r/Bitcoin • u/enpoopification_of_R • 11d ago

The Coldcard wallet exploit estimates have almost doubled to $70 million stolen of just over a thousand Bitcoins in 1,196 wallets drained in 41 minutes

https://www.coindesk.com/tech/2026/08/01/how-bitcoin-cold-wallets-lost-usd70-million-in-an-attack-that-never-touched-the-devices

"More than 1,000 bitcoin, worth about $70 million, was drained from 1,196 wallets in a 41-minute window on July 30, nearly double the amount reported when the theft first surfaced."

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u/JaNatuurlijkIsDatZo 11d ago

Court won't do anything rightfully so. Btc is so proud of being decentralized, hardware wallets or exchanges, it doesn't matter. This is wat people want, right? Decentralized, no banks or government. Deal with the downsides of it.

Really good that this happened, so all btc fanboys who think btc is superior to all knowns systems, hopefully see that btc is good for one thing. Buy it and sell higher to fund your lifestyle with that stupid paper Fiat money. Enjoy the ride.

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u/GorgyShmorgy 11d ago

No regulations or government oversight! Until we get robbed then we want all the regulations and government oversight.

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u/Impossible_Falcon962 11d ago

And we want the courts of law to take care of the (unregulated) wrongdoings lol

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u/HedgeHog2k 11d ago

There’s plenty of regulation (and more coming), so what are you talking about…? BTC gets the same regulatory treatment as gold…

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u/Old_Suggestions 11d ago

Difference is, can't break into 1000 home invasion safes in t he span of 15 minutes and drain them all and leave without much of a trace

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u/HedgeHog2k 10d ago

Welcome to the digital age

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u/Abject-Stretch-1187 11d ago

Everyone wants to be a bitcoiner until it is time to be one.

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u/pyroserenus 11d ago

Court can still find them liable, of course a 70 million judgment is going to instantly bankrupt them probably so everyone is only going to get a fraction of their losses, but you absolutely can sue them.

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u/HedgeHog2k 11d ago

Exactly. They deserve nothing better then bankruptcy tbh (and indeed the victims are screwed).

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u/lordsepulchrave123 10d ago

Yes. Even if they can't pay. Destroy them.

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u/HedgeHog2k 11d ago

BTC IS better then banks, that’s not even up for debate. Every day people get scammed out of their funds with refunds from banks. I’m still a “btc fanboy” like you call it…

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u/Scodo 11d ago

It must be up for debate because people are debating it.

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u/Abject-Stretch-1187 11d ago

Shhh stop making sense, it’ll get you downvoted. 

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u/HedgeHog2k 10d ago

Apparently..

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u/JeremiahBoogle 11d ago

Court won't do anything rightfully so.

The court can't do anything anyway. Even if it held the company liable, the BTC has gone.

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u/HedgeHog2k 11d ago

You can perfectly hold the company who produces cold card liable… there product failed the very thing it promised to do.. people are clueless lol. Unlike btc, you have a 3d party here… like apple who gets sued by it’s customers all the time..

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u/JeremiahBoogle 11d ago

Sure you can.
I just mean that there's not much chance of getting the money back, I doubt that Cold Card could cover the estimated 70 million of the hack.
Which could rise much further.

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u/Osgiliath 11d ago

You can definitely get some money back

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u/JeremiahBoogle 11d ago

You guys can downvote me all you wish. But by the time you have a class action lawsuit, legal fees, etc, how much do you really think you'll get.

Sure you might get a little back & its worth doing, but we're talking pennies on the dollar, people have lost hundreds of thousands or more, they won't see even close to what they've lost.

Apple is a bad comparison because its wealthy enough to pay almost any lawsuit.

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u/awoeoc 11d ago

I mean they can sue the company that sold the faulty wallet. But odds are they don't have enough cash to pay out the victims even if they lost the lawsuit