Galaxy: 1,789 BTC Stolen in Coldcard Wallet Attack; 87% of Funds Still Dormant
AI Market Summary
Galaxy Research's tracking of the Coldcard hardware wallet attack confirms 1,789.28 BTC stolen across 8,865 addresses, with ~87% still unmoved. Limited CoinJoin usage and fragmentation in later waves suggests some laundering risk, while most funds remain identifiable. Distribution of attacker addresses to exchanges and law enforcement raises the likelihood of future freezes if coins hit centralized venues, elevating near-term operational and custody risk awareness for Bitcoin.
Impact level
● Medium
Affected assets
BTC/USDT+1.82%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Galaxy Research has refreshed its monitoring of the Coldcard hardware wallet attack, confirming that 1,789.28 BTC were stolen from 8,865 addresses—valued at about $114.7 million at the time of the incident, Cointelegraph reported.
Alex Thorn, Galaxy's Head of Research, said 87.3% of the stolen bitcoin (around 1,561 BTC) remains parked in attacker-controlled addresses. All BTC taken in the first three waves has not moved.
Bitcoin linked to later waves has seen limited activity, including CoinJoin mixing and small-scale fragmentation into smaller transfers.
The updated analysis draws on 221 victim reports, representing combined losses of 790.72 BTC. The median loss was 1.04 BTC, and more than half of reports involved losses above 1 BTC.
Galaxy said it has shared the attacker's addresses with exchanges, compliance firms and law enforcement in an effort to freeze funds if they reach centralized intermediaries.
