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Following
BTC Coldcard Emergency Warning: Users need to immediately migrate Bitcoin
Coldcard issues an emergency warning to users requesting that Bitcoin (BTC) be immediately migrated to a newly generated wallet. The damage caused by this vulnerability incident has exceeded US$100 million, and some estimates are even close to US$130 million.
Key Points
Coldcard said the threat remains and urged users to upgrade devices, create new seeds and move funds carefully. Galaxy Research confirmed that losses have exceeded $100 million, while some reports indicate the total potential losses may be close to $130 million. Joe Consorti pointed out that blockchain tracing could make it difficult for attackers to use most of the stolen bitcoins.
Coldcard Migration Warning
Coldcard issued a warning on the X platform on August 4, requiring users to follow the model-specific instructions and treat this issue as an emergency. The company said: "Please make sure to treat this as an emergency. Move your funds now." He added: "The threat continues."
This warning follows multiple rounds of attacks since the end of July. After users reported missing funds, Coinkite admitted that the wallet code was severely flawed. Updating firmware alone is not enough to resolve the problem. Coldcard pointed out that users should install updated software, generate new seeds, and move assets carefully. At the same time, Coldcard calls on users to alert people who may not have seen the warning. Users must create completely new seeds.
Impact of Bitcoin theft incident
Galaxy Research confirmed that the confirmed theft amount exceeded $100 million. Other estimates suggest the total loss could be close to $130 million as investigators review more suspicious transfer records. More losses may be discovered in the future, and the final figure remains uncertain.
Consorti said it may be difficult for attackers to use most of the stolen bitcoins because analysts are tracking the movements of the coins through the public blockchain. This visibility does not recover money.
The Coldcard crisis began in late July when users reported that funds in their hardware wallets had disappeared, and the team later admitted that there was a vulnerability. Damage estimates climbed from millions of dollars to more than $100 million, while repeated warnings suggested the risks were not yet under control.
