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Bitcoin rebounds toward $64,000 after Coldcard exploit fallout

CoinDesk reports about 1,816 BTC, worth roughly $114 million, was reportedly moved from Coldcard-linked addresses after a firmware flaw was exploited.

Reported · Written up by our desk · Market Structure

Bitcoin rose to just below $64,000 as markets appeared to stabilize after a weekend hack involving Coldcard cold wallets and subsequent bitcoin sales by Strategy, even as broader sentiment remained in “extreme fear,” according to CoinDesk.

The outlet cited researchers tracking the hack, saying about 1,816 BTC, roughly $114 million, was reportedly removed from more than 5,200 addresses since July 30, after the exploit targeted a Coldcard firmware flaw.

CoinDesk also noted that Strategy sold 1,638 bitcoin between July 27 and Aug. 2 at an average price of $63,957, which was below its $75,419 average cost. The firm uses proceeds to support dividends and buybacks on its preferred stock, STRC.

Derivatives positioning in altcoins such as ATOM and ADA remained heavily hedged, while bitcoin and ether futures stayed subdued, CoinDesk said. It added that spot bitcoin ETFs saw $61.5 million outflows last week, with $170 million outflows on Monday, while ether ETFs recorded $27.4 million inflows last week before additional $11.4 million left on Monday.

Latest closeBitcoin $63,729.65 ▲0.4%

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