Coldcard Hardware Wallet Exploit Tops $100M in Stolen Bitcoin

A significant security incident involving the Coldcard hardware wallet has resulted in the theft of 1,596 Bitcoin, worth more than $100 million. Reports indicate a further wave of losses, referred to as 'Wave 4', could push total losses to around $130 million.

Hardware wallets are widely used to store cryptocurrency offline, away from internet-connected systems, and are generally considered a safer alternative to exchange-based storage. This exploit has renewed scrutiny of self-custody security practices, raising questions about how attackers were able to compromise devices intended to be highly secure.

While the technical details of the exploit are still emerging, the scale of losses highlights that even specialised security hardware can carry risk if vulnerabilities exist or are discovered by attackers. Businesses and individuals holding cryptocurrency assets should stay alert for official guidance from device manufacturers.