Coldcard Hardware Wallet Hack Drains Over $111 Million in Bitcoin — Here's What Went Wrong and What You Need to Know
(56 days ago) · 1 source · Summarized by CryptoBipto
A major security breach affecting Coldcard hardware wallets has resulted in over $111 million in stolen Bitcoin, with victims reporting a median loss of 1 BTC each. The hack represents one of the most significant hardware wallet compromises in crypto history, shaking confidence in what many considered one of the most secure ways to store Bitcoin.
WHY IT MATTERS
Think of a hardware wallet like a personal safe for your Bitcoin — it's a physical device designed to keep your crypto keys completely offline and away from hackers. Coldcard was considered one of the most secure safes available. This hack is like discovering that a top-rated home safe brand had a hidden flaw that allowed thieves to crack it open. It matters because many people chose Coldcard specifically because they wanted maximum security. If you're new to crypto, this is a reminder that no solution is 100% bulletproof, and it's important to stay informed about security updates for whatever wallet you use. 'Self-custody' means you hold your own crypto keys rather than trusting a company like an exchange — it gives you full control, but also full responsibility for keeping those keys safe.
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