Coldcard Warns Users to Ditch Mk3 Hardware Wallets — Here's Why $38M in Bitcoin Just Vanished
(63 days ago) · 1 source · Summarized by CryptoBipto
Coldcard has issued an urgent warning about its older Mk3 hardware wallets as security experts investigate a massive $38 million (594 BTC) Bitcoin wallet drain. The incident has raised serious questions about potential vulnerabilities in legacy hardware wallet models. Experts are still examining the root cause, but the warning signals that Mk3 users may be at risk.
WHY IT MATTERS
Think of a hardware wallet like a physical safe for your Bitcoin — it stores your private keys (the secret codes that prove you own your crypto) offline, away from hackers. Coldcard is one of the most trusted safe-makers in the Bitcoin world. Now imagine the company telling customers that an older model of their safe might have a weak lock. That's essentially what's happening here. Someone lost $38 million in Bitcoin, and Coldcard is warning people who still use their older Mk3 model to upgrade. For anyone holding crypto, this is a reminder that even the most secure tools need to be kept up to date — just like you'd update your phone's software to patch security holes.
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