Coldcard Wallet Losses Hit $114M as Fourth Theft Wave Emerges

Key Facts

Amid escalating cybersecurity threats targeting digital assets, reports have revealed a sharp increase in thefts targeting Coldcard wallet users. According to reports, total losses may reach $114 million following the detection of a fourth wave of unauthorized fund sweeps. These attacks stem from a vulnerability in the seed generation mechanism of Coldcard Mk3 devices, which has allowed attackers to drain Bitcoin balances in successive waves.

Technical data indicates that the currently pending transactions utilize the Replace-By-Fee (RBF) feature, offering victims a brief window to recover their funds before transaction confirmation. Per market data, this feature allows users to attempt moving their funds to secure addresses by paying higher transaction fees than those set by the attacker, provided the transaction remains in the mempool and has not yet been confirmed on the blockchain.

Looking ahead, the outlook remains bearish for users of affected devices who have not yet updated their firmware, though no current price data is available for related instruments at this time. Investors should monitor for further security updates from manufacturer Coinkite, noting that the upcoming economic calendar does not list any direct catalysts for crypto-cybersecurity in the immediate days ahead.