Binance founder CZ Zhao warned crypto owners against placing full trust in hardware wallets, citing an exploit that drained tens of millions from Coldcard devices. He suggested splitting funds across multiple wallets to reduce exposure but acknowledged no setup is fully foolproof.
Galaxy Research estimated the losses at about 1,082.65 BTC, worth approximately $70.2 million. The theft occurred in a 41-minute window on July 30, with addresses spanning native SegWit and older address types. Coinkite, manufacturer of Coldcard devices, shipped emergency hotfixes.
CZ: “Nothing is 100%. Holders should consider spreading their funds across several wallets as one way to reduce exposure.”
No future events or further developments are specified regarding the scope of the theft and details about the affected addresses.
Written by James Tobias
Bitcoin Desk
