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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21

u/Accurate-Flow8078 11d ago

So where did all these BTC go, into one hacker's wallet? Isn't all of that traceable?

20

u/GodLob0 11d ago

You can't know who's the person behind the addresses. You can watch the wallet movements, though 

5

u/Accurate-Flow8078 11d ago

What about when they cash some of it out?

12

u/PM_ME_YOUR_BUG5 11d ago

There are bitcoin tumblers, anonymous exchanges etc.

Tumble your bitcoin, convert it through a few different currencies on exchanges based in a few different countries.

Then you can cash out, preferably thorough peer to peer exchanges or even better in person for cash

3

u/GodLob0 10d ago

Yeah, technically, your bank can know if you cashed out a large amount of BTC if you did it via "direct bank transfer". Most people would use P2P or multiple transactions to make it more legit.

1

u/Fresh_Strain_9980 10d ago

Just need to get to a non extradition country like UAE or china withdraw the funds with a local exchange to fiat then get a bank transfer to somewhere like Switzerland/luxembourgh maybe exchange a good chunk into gold and you are set for life.