Suspected 4th Coldcard attack wave sweeps 389 Bitcoin: Galaxy’s Thorn
Galaxy research head Alex Thorn warned that unconfirmed transactions may give some Coldcard users a narrow opportunity to save their funds.
A new wave of coordinated Bitcoin thefts targeting Coldcard hardware wallets has swept through the cryptocurrency network, according to Galaxy research head Alex Thorn. The attacks, which follow the disclosure of a previously unknown firmware flaw in Coldcard devices, have moved around 388.9 BTC (approximately $70 million) in just a few hours.
Thorn flagged 218 transactions impacting 462 potential victim addresses, noting that the activity averaged 13.8 sweeps per block, a rate 45 times higher than pre-incident levels. Most transfers have created a new destination for each victim, rather than converging on a central collection wallet, suggesting a targeted approach. Thorn expressed high confidence that these are indeed Coldcard victims, based on the pattern of vulnerable unspent transaction outputs and the elevated transaction volume.
The researcher warned that some funds have already been transferred to second hop addresses, and affected users may be able to recover their funds by broadcasting conflicting transactions with higher fees. This wave of attacks comes after the first wave of thefts on Thursday, raising concerns about the security of Coldcard devices and the broader Bitcoin ecosystem.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
