{"id":214522,"date":"2026-08-17T21:32:34","date_gmt":"2026-08-17T21:32:34","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=214522"},"modified":"2026-08-17T21:32:34","modified_gmt":"2026-08-17T21:32:34","slug":"losses-top-115m-in-coldcard-bitcoin-hack-galaxy-research","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=214522","title":{"rendered":"Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a><\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/news\/losses-top-115-million-in-coldcard-hack\">Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research<\/a><\/p>\n<div><\/div>\n<p class=\"wp-block-paragraph\">New data from Galaxy Research shows that $115 million in bitcoin has been lost in the Coldcard theft.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Writing on X Sunday, Galaxy Research <a href=\"https:\/\/x.com\/glxyresearch\/status\/2089002238391832948\">said<\/a> that it had spoken with over 200 victims to support them and gather intelligence on the attackers.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The figures are based on the price of bitcoin at the time of the attack.\u00a0<\/p>\n<div class=\"wp-block-embed__wrapper\">\n<p>Coldcard losses have exceeded $115M (based on the price when coins were stolen)<\/p>\n<p>Galaxy Research has spoken with 200+ victims to support them and gather intelligence on the attackers<\/p>\n<p>This thread contains additional charts and info  <a href=\"https:\/\/t.co\/H2K141mugF\">pic.twitter.com\/H2K141mugF<\/a><\/p>\n<p>\u2014 Galaxy Research (@glxyresearch) <a href=\"https:\/\/x.com\/glxyresearch\/status\/2089002238391832948?ref_src=twsrc%5Etfw\">August 16, 2026<\/a>\n<\/p><\/div>\n<p class=\"wp-block-paragraph\">Hackers <a href=\"https:\/\/bitcoinmagazine.com\/news\/coldcard-security-risk-immediate-action-required\">started taking<\/a> bitcoin stored using Coinkite\u2019s popular Coldcard hardware wallet on July 31.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Canadian company Coinkite said that a firmware bug in Coldcard Mk3 devices \u2014 starting with version 4.0.1 in March 2021 \u2014 caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator, allowing hackers to essentially guess investor seedphrases.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The number has slowly risen as the criminals have targeted more recent devices while Coinkite and other Bitcoiners have urged Coldcard users to immediately move their funds.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Galaxy Research last week said that it estimates at least 15 separate attackers were exploiting the bug independently.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Previous research from Galaxy found that the typical stolen coin had sat untouched for 3.5 years, and a striking 88% of pilfered funds were at least a year old.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The firm is still confirming how much is stolen, and has said that total losses could exceed $130 million.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Since the attack, cautious investors have been moving their coins to other storage solutions \u2014 including exchanges.<\/p>\n<p class=\"wp-block-paragraph\">Coinkite said in a statement this week that the bug in its software \u201csilently went unnoticed\u201d and \u201cits potential impact grew with every release\u201d of its products.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">Days after the first hack, the company urged investors to update their software or move their funds off the popular hardware wallet.\u00a0<\/p>\n<p>This post <a href=\"https:\/\/bitcoinmagazine.com\/news\/losses-top-115-million-in-coldcard-hack\">Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research<\/a> first appeared on <a href=\"https:\/\/bitcoinmagazine.com\/\">Bitcoin Magazine<\/a> and is written by <a href=\"https:\/\/bitcoinmagazine.com\/authors\/mathewdisalvo\">Mathew Di Salvo<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin Magazine Losses Top $115M In Coldcard Bitcoin Hack: Galaxy Research New data from Galaxy Research shows that $115 million in bitcoin has been lost in the Coldcard theft.\u00a0 Writing on X Sunday, Galaxy Research said that it had spoken with over 200 victims to support them and gather intelligence on the attackers.\u00a0 The figures [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":214523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-214522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/214522"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=214522"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/214522\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/214523"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=214522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=214522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=214522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}