Coldcard has urged customers to transfer their Bitcoin to new wallets as losses linked to its ongoing security vulnerability continue to grow, with some estimates placing the total value of stolen funds at nearly $130 million.
Days after acknowledging a critical flaw that exposed users’ wallet seeds, the hardware wallet maker issued an urgent notice on its official X account, advising customers to act without delay.
The company instructed users to update their devices, follow the security guidance specific to their wallet model, generate a new recovery seed, and carefully transfer their Bitcoin to wallets created with secure firmware.
The security incident first came to light in late July after several users reported that Bitcoin stored on their Coldcard devices had disappeared. Coldcard later confirmed that a vulnerability in its software had weakened the randomness used to generate wallet recovery seeds, making some wallets susceptible to attack.
According to Galaxy Research, confirmed losses have already exceeded $100 million, while other estimates suggest the total amount stolen may now be approaching $130 million as additional compromised wallets are identified.
Despite the growing scale of the theft, market commentator Joe Consorti has argued that the attacker may face significant challenges moving or spending much of the stolen Bitcoin. Because every transaction is permanently recorded on Bitcoin’s public blockchain, the stolen funds remain under close scrutiny from blockchain investigators, cryptocurrency exchanges, and law enforcement agencies.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
