Coldcard Hackers Are Still Draining Bitcoin Wallets Right Now. What You Need to Know — Key Takeaways
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Coldcard Hackers Are Still Draining Bitcoin Wallets Right Now. What You Need to Know
Natalie Brunell55mAug 11, 2026
Watch the originalAlex Thorn (Galaxy Digital) has confirmed 8,300 addresses and 1,720 BTC (~$112M) stolen via the Coldcard vulnerability, with 92% of stolen funds still sitting unmoved — and every remaining vulnerable address will eventually be drained.
Key takeaways
Thorn: victims 'did everything right' — this is the most tragic crypto hack he's seen
Thorn: victims 'did everything right' — this is the most tragic crypto hack he's seen
- Victims used air-gapped devices, never touched the internet, held coins avg 4 years — no user error involved.
- Contrasts with exchange hacks or DeFi losses where user behavior contributed; here the fault is entirely the manufacturer's.
Coldcard hack: 8,300 addresses, 1,720 BTC (~$112M) confirmed stolen as of Aug 10
Coldcard hack: 8,300 addresses, 1,720 BTC (~$112M) confirmed stolen as of Aug 10
- Galaxy Digital tracking 29+ distinct attack patterns (footprints A–AC); total may reach 2,100 BTC as new patterns are corroborated.
- Median victim loss: 1 BTC; mean loss: 4 BTC — primarily long-term holders, avg coin dormancy ~4 years.
Red team audited 500+ Bitcoin repos; libsecp256k1 — Bitcoin's core signature library — passed clean
Red team audited 500+ Bitcoin repos; libsecp256k1 — Bitcoin's core signature library — passed clean
- 25 volunteers ran 100 repos in parallel on bare-metal servers using AI agents for continuous vulnerability scanning.
- libsecp256k1 showed no bugs after dozens of hours of adversarial testing — Bitcoin's cryptographic foundation appears intact.
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In this video
- 1mUnderstanding the Coldcard Security Situation
- 3mWas the Coldcard one attack or several?
- 7mHow many wallet addresses have been stolen from?
- 9mOne attacker started, then copycats jumped in
- 10mWhere's the stolen Bitcoin now?
- 13mWhat will the hackers do - coin mixing and coin joins?
- 15mSome hackers are using casinos to launder the stolen Bitcoin
- 18mCan Coldcard hack victims get their money back?
- 20mAre white hat actors trying to save people's Bitcoin?
- 21mHow to prove the Bitcoin is yours
- 23mAre all Coldcard wallets vulnerable?
- 28mHow did Coldcard let this hack happen?
- 31mCould Coldcard have warned people about the bug?
- 33mWhat is the Red Team? How are they helping?
- 40mWhat devices are affected?
- 45mVictims can DM Alex on X
- 50mResponse to BIP 110 failure
“Eventually, all vulnerable Coldcard generated Bitcoins will be stolen. If you do not move them, they will be stolen.”
— Alex Thorn
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