ALERT: Coldcard exploit confirmed to have stolen at least 1,719 BTC ($111 million), total losses seen topping $130 million

Galaxy Research reports at least 1,719 BTC (~$111m) confirmed stolen via a Coldcard-related exploit, with total losses expected to exceed $130m. The incident is significant for BTC market microstructure because it can trigger risk-off positioning, tighter custody scrutiny, and potential sell-pressure from compromised funds. It also increases perceived counterparty and operational risk across self-custody workflows and hardware wallet supply chains.