Coldcard breach sparks Bitcoin security moves; daily active addresses hit eight-month peak
AI Market Summary
A reported Coldcard hardware wallet hack prompted users to move BTC rapidly, pushing daily active addresses to an eight-month high and accelerating sending activity. Small exchange deposits also spiked, indicating heightened security-driven repositioning and potentially increased near-term liquidity on venues. The flow pattern suggests stress and risk management behavior rather than organic demand, raising sensitivity to custody and security headlines across crypto markets.
Impact level
● Medium
Affected assets
BTC/USDT+0.67%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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CryptoQuant Research Director Julio Moreno (@jjcmoreno) said a hack involving the Coldcard hardware wallet prompted users to move Bitcoin in large volumes as a precaution. On-chain metrics show Bitcoin daily active addresses jumped from 645,000 on July 30 to nearly 1 million on July 31, the highest reading since December 10, 2024. The increase was driven mainly by a sharp rise in active sending addresses, while receiving addresses grew more modestly. Smaller exchange deposits also accelerated: daily deposits of under 10 BTC climbed to 7,300 BTC, the highest level since February 6 this year.
