Nearly $32M in 'Dormant' Bitcoin Suddenly Moves — And It May Be Linked to a $130M Coldcard Hack
3h ago · 1 source
Approximately $32 million worth of previously inactive Bitcoin has been transferred on-chain, with analysts linking the movement to an ongoing exploit of Coldcard hardware wallets that has now reached an estimated $130 million in total losses. The dormant coins, which had not moved in years, appear to have been compromised as part of a broader vulnerability affecting the popular cold storage device.
WHY IT MATTERS
Think of a hardware wallet like a personal safe for your Bitcoin — it's a physical device that stores your private keys (essentially the passwords to your crypto) offline, away from hackers on the internet. Coldcard is one of the most well-known brands of these safes, trusted by many serious Bitcoin holders. This hack is like discovering that a popular brand of home safes has a flaw that lets burglars open them remotely. 'Dormant' Bitcoin means coins that haven't been moved in a long time, usually belonging to long-term holders who thought their funds were completely secure. The fact that $130 million has been stolen suggests a serious vulnerability, and it's a reminder that even the most trusted security tools need to be regularly reviewed and updated. If you use any hardware wallet, this is a good time to check for firmware updates and consider using additional security measures like multisig, which requires multiple keys to move your funds.
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