{"id":54171,"date":"2026-08-17T16:32:34","date_gmt":"2026-08-17T21:32:34","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=54171"},"modified":"2026-08-17T16:32:41","modified_gmt":"2026-08-17T21:32:41","slug":"losses-top-115-million-in-coldcard-hack","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/news\/losses-top-115-million-in-coldcard-hack","title":{"rendered":"Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p class=\"wp-block-paragraph\">New data from Galaxy Research shows that $115 million in bitcoin has been lost in the Coldcard theft.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Writing on X Sunday, Galaxy Research <a href=\"https:\/\/x.com\/glxyresearch\/status\/2089002238391832948\">said<\/a> that it had spoken with over 200 victims to support them and gather intelligence on the attackers.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The figures are based on the price of bitcoin at the time of the attack.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Coldcard losses have exceeded $115M (based on the price when coins were stolen)<br><br>Galaxy Research has spoken with 200+ victims to support them and gather intelligence on the attackers<br><br>This thread contains additional charts and info \ud83d\udc47 <a href=\"https:\/\/t.co\/H2K141mugF\">pic.twitter.com\/H2K141mugF<\/a><\/p>&mdash; Galaxy Research (@glxyresearch) <a href=\"https:\/\/x.com\/glxyresearch\/status\/2089002238391832948?ref_src=twsrc%5Etfw\">August 16, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Hackers <a href=\"https:\/\/bitcoinmagazine.com\/news\/coldcard-security-risk-immediate-action-required\">started taking<\/a> bitcoin stored using Coinkite&#8217;s popular Coldcard hardware wallet on July 31.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Galaxy Research last week said that it estimates at least 15 separate attackers were exploiting the bug independently.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The firm is still confirming how much is stolen, and has said that total losses could exceed $130 million.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since the attack, cautious investors have been moving their coins to other storage solutions \u2014 including exchanges.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Coinkite said in a statement this week that the bug in its software &#8220;silently went unnoticed&#8221; and &#8220;its potential impact grew with every release&#8221; of its products.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Days after the first hack, the company urged investors to update their software or move their funds off the popular hardware wallet.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The amount of bitcoin stolen has been confirmed at $115 million, according to Galaxy Digital&#8217;s latest figures. <\/p>\n","protected":false},"author":3860,"featured_media":54172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4378],"tags":[76,1263,1692,594],"class_list":["post-54171","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","tag-bitcoin","tag-coinkite","tag-coldcard","tag-hack"],"author_data":{"id":3860,"name":"Mathew Di Salvo","nicename":"mathewdisalvo","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/07\/cropped-Mathew-Di-Salvo-scaled-1.jpeg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2026\/08\/Losses-Top-115M-In-Coldcard-Bitcoin-Hack-Galaxy-Research.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54171","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3860"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=54171"}],"version-history":[{"count":1,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54171\/revisions"}],"predecessor-version":[{"id":54175,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/54171\/revisions\/54175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/54172"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=54171"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=54171"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=54171"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}