{"id":230956,"date":"2026-09-22T17:20:11","date_gmt":"2026-09-22T17:20:11","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=230956"},"modified":"2026-09-22T17:20:11","modified_gmt":"2026-09-22T17:20:11","slug":"white-hats-move-over-4-5-in-bitcoins-from-coldcard-to-recovery-trust","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=230956","title":{"rendered":"White Hats Move Over $4.5 in Bitcoins From Coldcard to Recovery Trust"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

White Hats Move Over $4.5 in Bitcoins From Coldcard to Recovery Trust<\/a><\/p>\n

<\/div>\n

White hats have moved bitcoin from the hacked Coldcard signing devices to a trust for would-be victims to reclaim, Galaxy Digital\u2019s Alex Thorn has said.\u00a0<\/p>\n

Writing on X on Monday, Thorn said<\/a> that the funds were taken by white hats to protect potential victims. They are now apparently sitting in an address controlled by Crypto Recovery Trust, a Wyoming Trust created to help white hats return funds to victims.\u00a0<\/p>\n

A total of 52.37 of the bitcoins \u2014 worth over $4.5 million at today\u2019s prices \u2014 were moved. Thorn added that the funds represented 2.8% of the coldcard exploit.\u00a0<\/p>\n

Criminals started taking<\/a> bitcoin stored using Coinkite\u2019s popular Coldcard hardware wallet on July 31.\u00a0<\/p>\n

Canadian company Coinkite said that a firmware bug in Coldcard devices 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

Galaxy Digital tracked the movement of funds and said 1,789.28 bitcoins were lost in the attacks. That\u2019s $154.1 million in bitcoin at today\u2019s prices.\u00a0<\/p>\n

Earlier this month, Nick Bax of universal market protocol Ump Labs said that he was involved in helping recover the funds.\u00a0<\/p>\n

\u201cFinally able to say that at the end of July, I was involved in the rescue of ~50 BTC which were \u201cimminently going to be stolen due to the COLDCARD entropy flaw,\u201d Bax wrote<\/a> on X.\u00a0<\/p>\n

He added: \u201cThe funds are currently held by a Wyoming trust, which will ensure that funds are returned to their rightful owners.\u201d<\/p>\n

Since the attack, cautious investors have been moving their coins to other storage solutions \u2014 including exchanges.<\/p>\n

Coinkite said in a statement 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

Days after the first hack, the company urged investors to update their software or move their funds off the popular hardware wallet.<\/p>\n

This post White Hats Move Over $4.5 in Bitcoins From Coldcard to Recovery Trust<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Mathew Di Salvo<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine White Hats Move Over $4.5 in Bitcoins From Coldcard to Recovery Trust White hats have moved bitcoin from the hacked Coldcard signing devices to a trust for would-be victims to reclaim, Galaxy Digital\u2019s Alex Thorn has said.\u00a0 Writing on X on Monday, Thorn said that the funds were taken by white hats to […]<\/p>\n","protected":false},"author":0,"featured_media":230957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-230956","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\/230956"}],"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=230956"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/230956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/230957"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=230956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=230956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=230956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}