Bitcoin cold-wallet attack spreads to 4,500 addresses as losses near $89 million
Galaxy Research flagged a third wave of sweeps tied to weak Coldcard-generated keys, with the attacker now targeting smaller balances and changing how funds are collected onchain.
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Summary
- A vulnerability in a March 2021 Coldcard firmware release has enabled attackers to systematically drain bitcoin from thousands of wallets by reproducing keys generated with weak software-based randomness.
- Three distinct waves of attacks have now swept 1,367 bitcoin—nearly $89 million at recent prices—from 4,585 addresses, with the latest wave targeting smaller balances and using more complex, harder-to-trace transaction patterns.
- Galaxy Research believes each wave is the work of a single operator, but cannot determine whether the same attacker is behind all three, as the blockchain does not reveal whether separate sweeps are coordinated.
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Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Why it matters:
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
