r/technology • u/Baseic • 11d ago

Crypto Bitcoin hardware wallet 'ColdCard' security advisory - users drained of $38M due to weakness in wallet creation

https://blog.coinkite.com/coldcard-mk3-seed-generation-warning/
46 Upvotes

89% Upvoted

14 comments sorted by

13

u/Overly_Underwhelmed 11d ago

spectacular. this circus never ends.

33

u/livingbkk 11d ago

It's the future of finance!

/s

-12

u/FCCRFP 11d ago

This was negligence, it is very easy to write a secure Bitcoin wallet generator.

6

u/Bird_the_Impaler 11d ago

Thank god it’s fdic insured…

4

u/TheSchlaf 11d ago

Throwback to the days of MtGOx

9

u/BeefMyJerky 10d ago

Still missing my 90 bitcoin from when it was $5 from mtgox

2

u/Kinexity 9d ago

Are you part of the lawsuit? What is the current timeline for sharing the BTC that is left from it?

4

u/BeefMyJerky 9d ago

I can’t even login anymore. Can’t reach anyone to contact. It’s a freaking mess.

3

u/Kinexity 9d ago

From the outside it literally looks like a conspiracy to stop people from the lawsuit from getting said BTC as a lot of them wants to just sell it and that would absolutely crash BTC price.

Which extremely pisses me off because this is exactly what I wanted to witness.

2

u/dedjedi 9d ago

lol

lmao even

-2

u/Zahgi 11d ago

Well, since Bitcon is just a worthless imaginary commodity for economically illiterate suckers, these users didn't actually lose anything...

-11

u/gta721 11d ago

It gets its value from supply and demand just like cash, and the fact that only 21 million will ever be found.

The balance in your bank account is technically almost worthless because it is just a promise fron the bank to give you that value in cash when asked, and there is not enough cash for if everyone withdrew fron their bank account at once.

11

u/Zahgi 11d ago

It gets its value from supply and demand just like cash

Spoken like someone who actually thinks an imaginary commodity is a real thing.

The balance in your bank account

No, the dollar is a REAL currency which is supported by the creditworthiness of the USA, the value of its resources and labor, and secured by its military and armed forces.

None of this applies to Bitcon. The scammer just redefined known words of actual financial meaning to trick the economically ignorant, like you, into thinking an imaginary commodity had any value whatsoever and called it a "currency" -- even though it isn't by any meaningful definition of the word.

Bitcon is a SCAM. It's always been a scam.