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Coldcard users warned of coordinated theft wave moving 388.9 BTC

Galaxy research head Alex Thorn cited 218 transactions impacting 462 potential victim addresses, and said the pattern is consistent with sweeps that may be vulnerable to higher fee conflicting transactions.

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Cointelegraph reports that Galaxy research head Alex Thorn warned of a suspected fourth wave of coordinated thefts targeting Coldcard Bitcoin hardware wallets, days after earlier attack activity.

In a Monday X post, Thorn flagged 218 transactions impacting 462 potential victim addresses, with funds moved around 388.9 Bitcoin, and said the sweeps averaged 13.8 per block, roughly 45 times the rate seen in a pre incident control window.

Thorn said most transfers created a fresh destination for each victim rather than converging on a central collection wallet, and added that similar transactions were also seen in the mempool waiting to be confirmed.

The activity follows the disclosure of a previously undetected Coldcard firmware flaw that allegedly caused affected devices to generate wallet seeds with less entropy than intended, and Thorn said thousands of wallets may have been impacted, with more than $90 million in Bitcoin stolen.

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