{"id":49684,"date":"2026-08-17T21:32:34","date_gmt":"2026-08-17T21:32:34","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=49684"},"modified":"2026-08-17T21:32:34","modified_gmt":"2026-08-17T21:32:34","slug":"losses-top-115m-in-coldcard-bitcoin-hack-galaxy-research","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=49684","title":{"rendered":"Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research"},"content":{"rendered":"

Bitcoin Magazine<\/a>
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\nLosses Top $115M In Coldcard Bitcoin Hack: Galaxy Research<\/a><\/p>\n

<\/div>\n

New data from Galaxy Research shows that $115 million in bitcoin has been lost in the Coldcard theft.\u00a0<\/p>\n

Writing on X Sunday, Galaxy Research said<\/a> that it had spoken with over 200 victims to support them and gather intelligence on the attackers.\u00a0<\/p>\n

The figures are based on the price of bitcoin at the time of the attack.\u00a0<\/p>\n

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Coldcard losses have exceeded $115M (based on the price when coins were stolen)<\/p>\n

Galaxy Research has spoken with 200+ victims to support them and gather intelligence on the attackers<\/p>\n

This thread contains additional charts and info \"\ud83d\udc47\" pic.twitter.com\/H2K141mugF<\/a><\/p>\n

\u2014 Galaxy Research (@glxyresearch) August 16, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Hackers started taking<\/a> bitcoin stored using Coinkite\u2019s popular Coldcard hardware wallet on July 31.\u00a0<\/p>\n

Canadian company Coinkite 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 number has slowly risen as the criminals have targeted more recent devices while Coinkite and other Bitcoiners have urged Coldcard users to immediately move their funds.\u00a0<\/p>\n

Galaxy Research last week said that it estimates at least 15 separate attackers were exploiting the bug independently.\u00a0<\/p>\n

Previous research from Galaxy found that 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

The firm is still confirming how much is stolen, and has said that total losses could exceed $130 million.\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 Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Mathew Di Salvo<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research New data from Galaxy Research shows that $115 million in bitcoin has been lost in the Coldcard theft.\u00a0 Writing on X Sunday, Galaxy Research said that it had spoken with over 200 victims to support them and gather intelligence on the attackers.\u00a0 The figures […]<\/p>\n","protected":false},"author":1,"featured_media":49685,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-49684","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin"],"yoast_head":"\nLosses Top $115M In Coldcard Bitcoin Hack: Galaxy Research - 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=49684\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research - 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