Coldcard hardware wallet exploit led to $130M theft and prompted $15B in Bitcoin to move to safer custody.

Security & Exploits · 2026-08-12

A firmware exploit in Coldcard hardware wallets resulted in approximately $130 million in stolen Bitcoin across multiple attack waves starting July 30. Following the breach, 233,000 BTC worth roughly $15 billion moved out of long-term holder wallets as users including Ledger and Trezor owners shifted to multisig custody arrangements. Casa CEO Nick Neuman characterized the mass migration as evidence that distributed self-custody strengthens Bitcoin's resilience rather than weakening it, citing onchain data showing user movement toward safer storage exceeded stolen amounts by more than 100 times.

Previously on Telem

Coldcard exploit triggers Bitcoin address surge to 330,000 from 260,000 2026-08-11
Polymarket raises $1B at $20B valuation, Coldcard hack exceeds $100M 2026-08-10
Coldcard hardware wallet exploit confirmed at $130M+ losses, 1,719 BTC stolen 2026-08-09
Coldcard firmware exploit leads to over 2,000 BTC stolen 2026-08-07
Coldcard exploit results in estimated $130M in stolen cryptocurrency 2026-08-07