Home›Crypto›Market Structure›Bitcoin users move 39,600 BTC in small transfers amid…

Bitcoin users move 39,600 BTC in small transfers amid Coldcard hack

Data shared by CryptoQuant shows transfers below 1 BTC hit the highest daily level since November 2022, underscoring the continuing impact on self custody users.

Reported · Written up by our desk · Market Structure

Bitcoin users have moved 39,600 BTC in transactions below 1 BTC amid a suspected Coldcard hack that researchers say remained active, according to data shared by CryptoQuant head of research Julio Moreno, cited by Cointelegraph.

Cointelegraph reports that the surge in smaller transfers reached the highest daily level since November 2022 and was only 300 BTC below the 39,900 BTC moved on Nov. 16, 2022, shortly after FTX filed for bankruptcy. Moreno said he was encouraged by users taking action.

As the suspected Coldcard incident continued, Galaxy Research, the research arm of Galaxy Digital, reported that an additional 207.7 BTC was drained in the latest identified wave. Cointelegraph says estimated losses now total 1,367 BTC, worth $88.6 million, across 4,585 addresses.

Cointelegraph also notes that Galaxy Digital head of firmwide research Alex Thorn warned the attack was still ongoing and urged users to move funds from Coldcard-generated addresses immediately if they had not already done so, adding that reported victim and attacker addresses helped track stolen funds and identify new victims.

Latest closeBitcoin $63,186.69 ▲0.7%

More like this

Sources