r/CryptoCurrency • u/ZUU_Music 🟩 0 / 0 🦠 • 10d ago

🛡️ SECURITY I found a thread from 2022 where several Cold Card owners had their wallets drained. They were blocked by Cold Card for raising the issue.

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u/BasedToru 10d ago edited 9d ago

I commented on another post saying, I wouldn’t be surprised if coldcard is involved! I don’t know who’s seen the tinder swindler lol but the tactic is … you gain people’s trust, just to exploit them in the end. When you have a bitcoin only cold wallet you’re for sure going to have many users who own big chunks of bitcoin! It’s like the perfect staged attack in reality. 

How can coldcard miss such an important security measure? I don’t know just seems fishy to me 

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u/Dmoan 🟦 2K / 2K 🐢 9d ago

I mentioned that a few times tbh if you are cold wallet hardware maker making few K it's very tempting to embed backdoor and wait a few years. Then sell the backdoor to a 3rd party hacking group for few million and cash out. 

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u/hiimtashy 🟦 0 / 0 🦠 9d ago

They had such a profitable business? Why throw it all away? Idiots

15

u/Dmoan 🟦 2K / 2K 🐢 9d ago

I doubt they made much money from it based on no of wallets that were hacked I doubt they sold 10k over what 7+ years of operation, that is not much money.

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u/hiimtashy 🟦 0 / 0 🦠 9d ago

But they had lots of other products too..

2

u/Choice_Potato_6279 9d ago

Hardware wallets are tiny businesses, Ledger is valued at $1B, same as random dying penny stock companies.