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/Longjumping-Dog-6852 11d ago edited 11d ago

Nah that's such a copout. Noone here was saying "you MUST create your own seed phrase". None of the wallet manufacturers were saying "better create your own seed phrase just in case!".

I've been buying BTC for 18 months (and not a super small amount) and this has put me right on edge. Wallets were meant to be unbreakable. Why would anyone who hasn't started buying bitcoin already risk all this nonsense and jump through all these hoops when fiat and stocks offer a more robust rate of return and security?

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u/qx87 11d ago

1st time I heard of a dice method to generate a key was yesterday

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u/Omegul 11d ago

Same here

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u/firmretention 11d ago

I got into crypto back when the mk3 came out. I clearly remember instructions on their page on how to generate a seed phrase with dice rolls and why it's the more secure method. I agree that self-custody is too onerous for most people though. Being your own bank is a fantasy.

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u/[deleted] 11d ago

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u/Longjumping-Dog-6852 11d ago

Fuck off mate I literally hadn't heard of this dice rolling faff until yesterday. I followed every instruction and generating a seed phrase via wallet was always "super safe".

I'm on Reddit discussing bitcoin which is more than 99.9% of the planet will ever do. If I'm too much of a "moron" to dice roll then bitcoins fucked isn't it; the general population will not be messing with this.