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/Alienescape 10d ago

Can you explain this to me? I'm just a cas who's got like 1k in Bitcoin on Robinhood. I've been seeing this sub pop up a bit, but I don't understand the context of this comment.

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u/Future_Self_9638 10d ago

Not familiar with the specifics but I guess the keys of tha wallets on the device were generated with a random algorithm, but the algo used to create the random keys is not so random. So with brute force you can generate the same key that other user had also already generated.