Coldcard Hardware Wallet Hacked for Over $115M in Bitcoin — Here's What Went Wrong and What It Means for Self-Custody
(45 days ago) · 1 source · Summarized by CryptoBipto
A major security breach involving Coldcard hardware wallets has resulted in losses exceeding $115 million in Bitcoin, according to research from Galaxy Digital. The hack represents one of the largest hardware wallet exploits in crypto history, raising serious questions about the security assumptions behind cold storage solutions.
WHY IT MATTERS
Think of a hardware wallet like a personal safe for your cryptocurrency — it's a physical device that stores your digital keys offline, away from hackers on the internet. Coldcard was considered one of the most secure safes available, especially for Bitcoin holders. This hack is like discovering that a top-rated home safe brand had a hidden flaw that allowed thieves to crack it open. For anyone holding crypto, this is a reminder that no security solution is perfect, and it raises important questions: Should you trust yourself to guard your own crypto (called 'self-custody'), or is it safer to let a company hold it for you (like a bank)? This event will likely shape that debate for years to come.
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