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White hats move 52.37 BTC from hacked Coldcard devices to trust

The 52.37 bitcoins, worth over $4.5 million at today’s prices, were reportedly transferred by white hats to a Wyoming trust, representing 2.8% of the Coldcard exploit.

Reported · Written up by our desk · Market Structure

White hats have reportedly taken control of more than 52 bitcoins from compromised Coldcard signing devices and moved the funds to an address controlled by the Crypto Recovery Trust, a Wyoming trust set up to return recovered assets to victims, according to Galaxy Digital’s Alex Thorn.

Thorn said in a post that the total moved was 52.37 BTC, worth over $4.5 million at current prices, and that the amount equals 2.8% of the Coldcard exploit. He added that the funds were seized to protect potential victims from thieves.

The Coldcard issue dates to July 31, when criminals began taking bitcoin stored on the hardware wallet. Coinkite, the Canadian company behind Coldcard, said a firmware bug caused seed generation to fall back to a weaker software pseudorandom number generator rather than the hardware true random number generator, enabling attackers to guess seed phrases.

Galaxy Digital tracked the attacks and said 1,789.28 BTC were lost, worth $154.1 million at today’s prices. Coinkite said the bug went “silently unnoticed” and urged investors to update software or move their funds off the device in the days after the first hack.

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