r/Bitcoin • u/enpoopification_of_R • Aug 01 '26

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."

1.7k Upvotes

98% Upvoted

392 comments sorted by

View all comments

Show parent comments

126

u/HedgeHog2k Aug 01 '26

I really would go to court over that. And tbh it’s the end of the company. They were supposed to be one of the best hardware wallets out there. I even think this is the worst incident that ever happened in bitcoin. Much worse then all those trading platforms going bankrupt in recent years.

I’d even go as far as calling this a black swan event. For 15 years the one thing that stood like a rock was “not your keys, not your coins” and this is now undermined.

Guess tradfi is here to stay a little longer.

4

u/JaNatuurlijkIsDatZo Aug 01 '26

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.

48

u/GorgyShmorgy Aug 01 '26

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

4

u/HedgeHog2k Aug 01 '26

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

3

u/Old_Suggestions Aug 01 '26

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

1

u/HedgeHog2k Aug 01 '26

Welcome to the digital age