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CoinDesk·4 min read·hard

Unlike the FTX collapse, the $89 million Coldcard exploit has investors sending bitcoin back to exchanges

O
Omkar Godbole
Unlike the FTX collapse, the $89 million Coldcard exploit has investors sending bitcoin back to exchanges
✦AI Summary

A security vulnerability in Coldcard hardware wallets has led to the theft of approximately $90 million in Bitcoin, prompting users to move their assets back to centralized exchanges. The exploit stems from a firmware bug that weakened the randomness of seed phrase generation.

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Now they are doing the opposite by moving coins to exchanges, as the ongoing multi‑million‑dollar Coldcard hardware‑wallet incident, which began Friday, has raised fresh questions about the safety of self‑custody.

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Unlike the FTX collapse, the $89 million Coldcard exploit has investors sending bitcoin back to exchanges — Headlinne — headlinne