A Coldcard firmware flaw let hackers drain $70 million in Bitcoin in 41 minutes, with losses now topping $88 million
Source: TechSpot· Skye Jacobs· August 2, 2026
SynaBot summary
A critical vulnerability in Coldcard's firmware allowed attackers to steal approximately $70 million in Bitcoin within 41 minutes. The exploit targeted the device's seed generation process, raising concerns about hardware wallet security fundamentals.
Key takeaways
- Firmware flaw enabled rapid Bitcoin theft
- Seed generation process was exploited
- Hardware wallet security fundamentals questioned
- Significant financial losses reported
Why it matters
This incident highlights the importance of understanding the security of your hardware wallet's core functions, not just its physical tamper resistance. Users should verify the security practices of their chosen hardware wallet providers.
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