Coldcard wallet losses may near $114 million as possible fourth sweep emerges
A security vulnerability in older Coldcard hardware wallets has led to a series of attacks resulting in potential losses of up to $114 million in Bitcoin. The flaw stems from a 2021 firmware issue that allowed attackers to predict and reproduce private keys.
Alex Thorn, head of firmwide research at Galaxy Research, flagged the active wave and said the attackers opted into replace-by-fee, a Bitcoin feature that lets a pending transaction be overwritten by a later one paying a higher fee. Until a transaction confirms, a victim who finds their address in the mempool — the queue of unconfirmed transactions — can pay more and move the coins out first.
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