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Coldcard exploit prompts Bitcoin transfers as Clarity Act stalls
CryptoQuant data cited by Cointelegraph shows transfers below 1 BTC hit a 2022-era high, with 39,600 BTC moved on Friday.
An exploit tied to Coldcard hardware wallets has triggered a shift in Bitcoin custody behavior, with holders moving funds toward centralized exchanges and alternative storage after an estimated $90 million in Bitcoin was reportedly drained from cold storage.
Cointelegraph cites data shared by CryptoQuant research head Julio Moreno showing that Bitcoin transfers below 1 BTC climbed to the highest daily level since 2022, with 39,600 BTC moved on Friday. Galaxy Research, the research arm of Galaxy Digital, estimated losses of 1,367 BTC, or $88.6 million, across 4,585 addresses as a third wave of attacks hit Coldcard users over the weekend.
Galaxy Digital’s Alex Thorn warned that the attack was still ongoing and urged users to move funds from Coldcard-generated addresses immediately if they had not already done so. The outlet reports the exploit targets a flaw in Coldcard seed generation that did not use a genuinely random number generator.
Cointelegraph also links the broader crypto sentiment backdrop to US legislation, saying the Clarity Act is facing time pressure, with just five days left to hold a Senate vote. It adds that President Donald Trump is considering a revised ethics proposal for the bill developed by Senators Thom Tillis and Ruben Gallego, including a change in enforcement dynamics involving state attorney generals.
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