Galaxy Research: 1,719 BTC Confirmed Stolen in Coldcard Exploit; Total Losses May Top $130 Million
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Galaxy Research's high-confidence attribution of 1,719 BTC stolen in the Coldcard exploit, with total losses potentially exceeding 2,300 BTC (> $130m), elevates operational and custody risk across crypto. Reports of 250+ victims and 25+ attack patterns suggest an active, multi-actor campaign and ongoing uncertainty around final loss totals. While impact appears limited to specific Coldcard models, the incident can pressure risk sentiment and security scrutiny around self-custody.
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Galaxy Research said it has confirmed with high confidence that 1,719 BTC—valued at about $111 million—was stolen in the recent Coldcard security incident. The firm estimates total losses are likely to exceed $130 million.
According to its analysis, more than 25 distinct attack patterns have been identified, and multiple threat actors appear to be actively exploiting the vulnerability. Galaxy Research said it has received reports from over 250 victims. If all pending cases are ultimately validated, total losses could surpass 2,300 BTC.
Galaxy Research added it has found no evidence the bug affects signing devices or wallets beyond the Coldcard Mk3, Mk4, Mk5 and Q models.
