Move assets from Coldcard wallets immediately following significant losses attributed to a persistent vulnerability.
The Coldcard wallet developers have issued an urgent warning, advising users to migrate their Bitcoin holdings in response to a continuing exploit. As much as $114 million has reportedly been drained from self-custodied wallets since the initial breach was identified. The threat remains active, with those less engaged online considered most vulnerable.
Developers stated that a fix requires manual intervention. They issued a statement urging users to treat the situation with urgency and initiate a transfer of funds. The advisory recommends following specific steps including upgrading devices, generating new seeds and carefully moving assets.
According to CoinDesk, the exploit has impacted a substantial number of addresses. Galaxy Research reported a revised count indicating approximately 709 addresses were affected in recent sweeps, taking around 449 BTC. The cumulative losses prior to these developments reached $89 million.
The Coldcard wallet currently holds $65,242.60 in Bitcoin. Analysts believe the maximum loss attributable to this ongoing activity is $114 million, reflecting the scale of the vulnerability and the extent of funds impacted.
A Coldcard wallet statement reiterated its call for immediate action, stating: “Please treat this as urgent. Migrate your funds.” This highlights the seriousness of the situation and underscores the need for prompt preventative measures among users.
The continued activity surrounding the exploit demonstrates the importance of proactive security practices within the cryptocurrency landscape. Moving assets from vulnerable wallets remains a critical step for those utilising the Coldcard system.
Written by Daniel Brooks
Security Desk
