{"id":49287,"date":"2026-08-07T18:02:38","date_gmt":"2026-08-07T18:02:38","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=49287"},"modified":"2026-08-07T18:02:38","modified_gmt":"2026-08-07T18:02:38","slug":"coldcard-bitcoin-hack-victims-report-median-loss-of-1-btc-as-theft-tops-111-million","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=49287","title":{"rendered":"Coldcard Bitcoin Hack: Victims Report Median Loss of 1 BTC as Theft Tops $111 Million"},"content":{"rendered":"

Bitcoin Magazine<\/a>
\n
\nColdcard Bitcoin Hack: Victims Report Median Loss of 1 BTC as Theft Tops $111 Million<\/a><\/p>\n

<\/div>\n

New analysis of Bitcoin theft reports reveals that stolen funds overwhelmingly came from long-dormant wallets, with victims reporting a median loss of over one coin.<\/p>\n

Data posted<\/a> on X from Galaxy Research\u2019s Alex Thorn looked at 250 victim reports and found the typical stolen coin had sat untouched for 3.5 years, and a striking 88% of pilfered funds were at least a year old.\u00a0<\/p>\n

By address, losses ranged from a median of 0.014 Bitcoin to a mean of 0.212 Bitcoin, while individual victims reported a median loss of 1.022 Bitcoin and an average of 4.04 Bitcoin \u2014 with one unlucky holder losing as much as 58.97 coins.\u00a0<\/p>\n

Hackers started by taking over $35 million in Bitcoin from wallets last week Thursday. Coinkite, which makes Coldcard, said that a firmware bug in Coldcard Mk3 devices \u2014 starting with version 4.0.1 in March 2021 \u2014 caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator, allowing hackers to essentially guess investor seedphrases.\u00a0<\/p>\n

The theft continued throughout the weekend while Coinkite and other Bitcoiners urged Coldcard users to immediately move their funds.<\/p>\n

Galaxy Research said<\/a> Friday that a total of $111 million has been confirmed stolen but the number could be much higher as it continues its research.\u00a0<\/p>\n

\u201cWe have many more coins we are vetting for confirmation \u2014 we think total losses likely exceed $130 million,\u201d the firm wrote on X.\u00a0<\/p>\n

Since the attack, cautious investors have been moving their coins to other storage solutions \u2014 including exchanges.<\/p>\n

Coinkite said in a statement this week that the bug in its software \u201csilently went unnoticed\u201d and \u201cits potential impact grew with every release\u201d of its products.\u00a0<\/p>\n

Days after the first hack, the company urged investors to update their software or move their funds off the popular hardware wallet.\u00a0<\/p>\n

This post Coldcard Bitcoin Hack: Victims Report Median Loss of 1 BTC as Theft Tops $111 Million<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Mathew Di Salvo<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Coldcard Bitcoin Hack: Victims Report Median Loss of 1 BTC as Theft Tops $111 Million New analysis of Bitcoin theft reports reveals that stolen funds overwhelmingly came from long-dormant wallets, with victims reporting a median loss of over one coin. Data posted on X from Galaxy Research\u2019s Alex Thorn looked at 250 victim […]<\/p>\n","protected":false},"author":1,"featured_media":49288,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-49287","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin"],"yoast_head":"\nColdcard Bitcoin Hack: Victims Report Median Loss of 1 BTC as Theft Tops $111 Million - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=49287\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coldcard Bitcoin Hack: Victims Report Median Loss of 1 BTC as Theft Tops $111 Million - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Magazine Coldcard Bitcoin Hack: Victims Report Median Loss of 1 BTC as Theft Tops $111 Million New analysis of Bitcoin theft reports reveals that stolen funds overwhelmingly came from long-dormant wallets, with victims reporting a median loss of over one coin. 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