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BTC Coldcard hacking incident: The real story is not in the 130 million stolen funds, but in the 15 billion transferred bitcoins.
The Coldcard hacking incident is increasingly like a piece of encryption news, but the real story is not hidden in the stolen $130 million... but in the trace of the $15 billion transferred bitcoins.
In short,
15 billion versus 130 million: For every dollar stolen by Coldcard hackers, hundreds of dollars are carefully transferred to safer wallets.
AI discovers a five-year vulnerability: This entropy vulnerability has been hidden in Coldcard's public code since 2021 until it was detected by AI.
Defense speed must keep up with attack speed: Dispersing use of different wallets reduces risk, but it cannot be eradicated. The real defense lies in the speed at which you audit your own code.
After Coldcard robbery, US$15 billion in Bitcoin quietly moved to safety
As hackers cracked Coldcard Bitcoin wallets one by one, another bigger thing was happening silently. Casa CEO Nick Neuman revealed that 233,000 bitcoins (approximately US$15 billion) flowed out of wallets held for more than 155 days. Analysts see this indicator as a bellwether for serious, patient investors-who don't panic just because of a tweet. Most interestingly, some of these transfers didn't even come from Coldcard users. Ledger and Trezor holders took advantage of the panic and turned to multi-signature wallets, fearing they might be the next target. For every dollar stolen, hundreds of dollars are carefully transferred. Glassnode data confirmed this massive move: Long-term holders 'reserves fell from nearly 15 million bitcoins to approximately 14.7 million bitcoins, the largest weekly decline since December 2024. Neuman believes this proves that distributed self-hosting is like an immune system, not a weakness.
AI, the new enemy of cold wallets?
The hacking of Coldcard's Bitcoin wallet is no longer just news. Ledger's Ian Rogers explained in Bloomberg that AI changes the nature of threats-not by creating new vulnerabilities, but by giving attackers the tools to discover vulnerabilities quickly. Charles Guillemet, chief technology officer at Ledger, further pointed out that the vulnerability lay dormant in public code for five years before attackers used AI to discover it. Five years. This proves that open source is not the same thing as being truly audited. The public repository that has existed on GitHub since 2021 is useless if no one bother to actually review it. The incident is now a wake-up call for any company developing Bitcoin hardware or software: sensitive code urgently needs to be reviewed before malicious AI does. Defense must be synchronized with attack speed-which means there is little breathing room between audits.
After the Coldcard Bitcoin Wallet (BTC) was hacked, the solution was to spread assets among the wallets of different manufacturers, which reduced the risk but never completely eliminated. There is no 100% guarantee in the field of cryptographic security. The real line of defense today is no longer limited to the hardware itself... It also depends on how quickly each ecosystem participant audits its own code-before malicious AI does.
