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BTC 
DOGE Dogcoin community members warn that Coldcard wallet vulnerability led to the theft of a large amount of bitcoin
Mishaboar, an active member of the Dogcoin community, issued an urgent appeal to cryptocurrency holders, asking them to take immediate action. Previously, Coldcard, a hardware wallet widely used to store Bitcoin, suffered a serious security breach, putting a large amount of funds at risk.
Urgent action is urgent after the wallet vulnerability was exposed.
Mishaboar issued a warning to all users who have used any version of Coldcard devices, advising them to immediately transfer assets to a new wallet and generate new mnemonic words. Don't reuse old mnemonic words. The recommendation follows warnings from Coldcard officials, who have previously asked users to upgrade devices, create new mnemons, and carefully divert funds from affected wallets to avoid further losses.
Mishaboar also shared a key security tip for users who rely on hardware wallets: He warned users never to type mnemonic words into their computers, and emphasized that offline backups must be kept properly and at least one copy should be stored in a different location.
Alex Thorn, director of research at Galaxy Research, reported that attacks related to the Coldcard vulnerability continue. He urged affected users who have not yet migrated Bitcoin to act quickly because funds in wallets controlled by the attacker have not been moved since the vulnerability was exposed.
The vulnerability stems from a flaw in Coldcard's firmware version released in March 2021. The vulnerability allows malicious actors to exploit the weak randomness generated by software during key creation to steal funds from thousands of wallets.
Large-scale attack wave affects long-term holders
Galaxy Research conducted detailed on-chain analysis and disclosed that it identified three different waves of attacks targeting Coldcard generated addresses. These attacks affected a total of 4585 addresses, resulting in the theft of approximately 1,367.05 bitcoins worth approximately US$88.6 million. According to Galaxy Research, stolen bitcoins have been dormant for an average of 3.18 years, and the median age of the affected funds is 3.55 years, indicating that most victims are long-term Bitcoin holders who have stored assets for many years.
Coldcard users are advised to remain vigilant, pay close attention to their wallets, and take all possible measures to strengthen security protection in the context of ongoing threats.
Market innovation requires strengthened security protection
The continuous evolution of cryptocurrency technology and asset management highlights the importance of risk management. In responding to the current changing landscape, certain platforms have helped bridge the gap between traditional finance and cryptocurrencies, providing ways to simplify asset diversification. By bringing real-world assets such as leading U.S. stocks, gold and silver into the blockchain, and supporting direct access through wallets, these platforms reduce complexity and eliminate middlemen. Its pricing function automatically finds the most competitive exchange rates for users, enabling seamless and instant trading in the world's largest stock market.
