At least 15 attackers exploited Coldcard vulnerability: Galaxy
- Galaxy Research confirmed on Monday that the Coldcard hardware wallet exploit has impacted about 7,300 addresses, with confirmed losses surpassing $100 million across three major attack waves and 14 smaller incidents.
- Coldcard utilized a private key entropy level of 40 bits, significantly lower than the standard 128-bit seed used by other wallets, stemming from a firmware bug that made attacks easier.
- Alex Thorn, head of firmware research at Galaxy Research, identified a fourth 'organized wave' on Sunday evening that stole around 388 bitcoin, bringing total losses to more than $110 million.
- Coinkite, which owns Coldcard, stated 'the last three days have been some of the hardest in this company's history,' while advising users to generate new recovery seeds immediately.
- At least 15 different attackers exploited the vulnerability, which Dragonfly managing partner Haseeb Qureshi claimed could have been prevented with '$2 of AI hardening,' reigniting debate over cold storage security.
24 Articles
24 Articles
A shocking storage exploit bankrupts Bitcoiners — with lessons for us all
Coldcard, one of the better-known hardware wallets in the Bitcoin world, shipped a firmware bug that weakened the secret keys protecting customers' money. By Saturday afternoon, Galaxy Research had identified three waves of suspected theft totaling 1,367.05 Bitcoin, worth about $88.6 million, across 4,585 addresses.That is the observed damage, not necessarily the final bill. Galaxy's method spots a particular attacker's habits on the public Bitc…
Galaxy Research Puts Confirmed Coldcard Losses Above $100 Million as a Suspected Fourth Wave Nears $130 Million
Confirmed losses from the Coldcard hardware wallet exploit have crossed $100 million, with Galaxy Research saying Monday it has high confidence that 1,596 BTC was taken from about 7,300 addresses across three major attack waves and 14 smaller incidents. A suspected fourth wave, which Galaxy says it holds at medium-high confidence, would lift the total to 2,055 BTC, or roughly $130 million. Galaxy kept the fourth wave out of its confirmed count b…
Galaxy estimates Coldcard exploit may have stolen up to 2,055 Bitcoin
Galaxy Research has estimated that losses tied to the Coldcard hardware wallet vulnerability have reached 1,596 Bitcoin across confirmed attack waves and could climb to about 2,055 BTC, or nearly $130 million, if a suspected fourth wave is verified. Galaxy…
Coldcard Attack Drains up to $110 Million in Bitcoin From Thousands of Addresses, Researchers Say
Users of a popular bitcoin storage device, Coldcard, are being urged to protect or move their cryptocurrency after it was discovered that a software issue might have allowed attackers to allegedly steal upwards of $110 million over the past several days. A report from Galaxy Research over the weekend estimated that around $88 million, or 1,367.05 bitcoin, was stolen from 4,585 addresses in the Coldcard attack. The data, it said, was “derived sol…
As the balance sheet continues to grow for the owners of a ColdCard Wallet, at least 15 attackers would have taken advantage of the flaw. We're taking stock of the situation. Read more The balance sheet is growing for the holders of bitcoins: at least 15 hackers took advantage of the ColdCard flaw appeared first on Cryptoast.
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