Coldcard Wallet Attacks Persist as Smaller Copycat Actors Surface
AI Market Summary
Galaxy's research director reports ongoing attacks targeting Coldcard-generated mnemonic phrases, with new imitator attackers emerging. Total stolen funds are reported at 1,367.05 BTC (about $88.6m) across 4,585 addresses, and at least one attempted freeze failed as funds were moved before action. The incident elevates operational and custodial risk perceptions in crypto, potentially weighing on near-term market confidence.
Impact level
● Medium
Affected assets
BTC/USDT+0.03%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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ChainThink reported on Aug. 2 that Galaxy Research's Research Director Alex Thorn said attacks targeting Coldcard wallets are still underway, with additional small-scale attackers and imitators now attempting to seize remaining Coldcard mnemonic phrases.
Thorn said that while assisting with efforts to identify the depositor tied to a recent incident, the funds were moved out before they could be frozen on the Duel platform. He added that these funds were not linked to the three major attack waves previously identified by Galaxy Research.
Coldcard, a Bitcoin hardware wallet, was previously reported to have been compromised. Total stolen funds have risen to 1,367.05 BTC, worth about $88.6 million, impacting 4,585 addresses. Thorn warned the campaign remains active and urged users who have not yet migrated their funds to move assets out of addresses generated by Coldcard.
