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Coldcard vulnerability exploited by at least 15 attackers, Galaxy says

Galaxy Research estimates losses at $100 million across three confirmed attack waves, with a suspected fourth wave that could raise totals to about $130 million in Bitcoin.

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Galaxy Digital says at least 15 different attackers have exploited the Coldcard vulnerability, citing newly received victim reports since the incident, according to Cointelegraph. Galaxy Research head of research Alex Thorn said the victim reports helped the company identify additional attackers because the exploit differed from hacks on centralized exchanges. Thorn added that one victim reported less than 1 BTC stolen, which enabled Galaxy to identify a new attack involving 12 BTC siphoned from 126 addresses, per Cointelegraph. Cointelegraph reports Galaxy estimated total losses from three confirmed attack waves at about $100 million, in Bitcoin terms. The firm also identified a suspected fourth wave that could bring total losses to roughly $130 million. The incident has renewed debate over cold storage wallet security and whether users are safer self-custodying Bitcoin, Cointelegraph said. Dragonfly managing partner Haseeb Qureshi argued that about $2 of AI hardening could have helped prevent the vulnerability from being rediscovered quickly, though Cointelegraph also cited concerns from a crypto analytics platform that AI models were unlikely to find the issue independently before it became public.

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