Coldcard Hardware Wallet Thefts May Exceed $150 Million — Here's What Went Wrong and What You Need to Know
(49 days ago) · 1 source · Summarized by CryptoBipto
A Galaxy report reveals that thefts targeting Coldcard hardware wallets could surpass $150 million in total losses, though the pace of attacks appears to be slowing. The vulnerability highlights ongoing security concerns even with hardware wallets, which are widely considered one of the safest ways to store Bitcoin.
WHY IT MATTERS
Think of a hardware wallet like a personal safe for your Bitcoin — it's a physical device that stores your crypto keys offline, away from hackers on the internet. Coldcard is one of the most popular and trusted brands of these safes. This news is like finding out that a well-known safe manufacturer had a weakness that burglars exploited, resulting in over $150 million stolen. Even though the break-ins are slowing down, it's a big wake-up call: even the most secure storage methods aren't perfect. If you hold crypto, this is a reminder to use multiple layers of security — like requiring multiple keys to access your funds (called 'multi-sig') — and to stay updated on any security alerts from your wallet provider.
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