Galaxy Research estimates 1,789.28 BTC were stolen in the Coldcard incident, affecting 8,865 addresses, with ~87% still parked in attacker-controlled holding addresses. The large unmoved balance represents latent distribution risk if it begins to move, while CoinJoin and chain-stripping activity complicates tracing. Galaxy has shared attacker addresses with exchanges, compliance firms, and law enforcement to support potential freezing when funds hit centralized venues.
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Galaxy Research estimates the Coldcard hacking incident impacted 8,865 addresses and resulted in the theft of 1,789.28 BTC, worth about $114.7 million at the time, according to Cointelegraph on Aug. 25.
The firm said roughly 1,561 BTC, or 87.3% of the stolen amount, has not moved and is still sitting in attacker-controlled aggregator or holding addresses. Galaxy Research head Alex Thorn added that a portion of the funds has been obscured using CoinJoin transactions and chain-stripping techniques.
The dataset also includes 221 victim reports totaling 790.72 BTC in losses, representing 44.2% of the overall losses attributed to Galaxy's accounting. The median loss per report was 1.04272 BTC.
Galaxy said it has shared attacker-linked addresses with crypto exchanges, compliance providers, and law enforcement to support freezing actions if the funds enter centralized venues.