Coldcard Hack Losses Reach 1,778 BTC

Key Point

Galaxy Research estimates that more than 1,778 BTC worth about $112 million was stolen in the Coldcard Bitcoin hardware wallet hack. Galaxy Research is tracking three major attack flows and traces of more than 30 smaller attacks across at least 33 addresses. About 1,531 BTC remains in addresses controlled by the hacker, while 246 BTC has been transferred out. Galaxy Research shared suspected hacker addresses with exchanges, law enforcement authorities, and investigative agencies.

Why it matters: The theft may increase security concerns around self-custody tools and could affect how exchanges handle funds linked to suspected attacker addresses.

Market Sentiment

Cautiously Bearish, Event-driven, Fear.

Reason: The confirmed theft of more than 1,778 BTC creates a negative security event for Bitcoin holders.

Similar Past Cases

In February 2025, Bybit lost about $1.5 billion in a hack and later saw more than $4 billion in withdrawals as users reacted to the security breach. (CoinDesk) The Bybit incident involved an exchange and withdrawal pressure, while the Coldcard incident concerns a hardware wallet hack.

Ripple Effect

The hack may raise scrutiny of hardware wallet security and increase caution among self-custody users. If exchanges identify transfers from suspected hacker addresses, then exchange restrictions could limit the movement of stolen BTC.

Opportunities & Risks

Opportunities: If Coldcard publishes technical details about the attack, then users can use those details to review whether their devices or seed-handling practices face similar risks.

Risks: If exchanges flag addresses linked to the hacker, then avoiding funds with unclear transaction history can reduce the risk of transfer delays or restrictions.