Galaxy Research: Coldcard Exploit Losses Climb to $88.6M, More Than 4,500 Addresses Impacted
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Galaxy Research reports a third wave of attacks against addresses generated by Coldcard, bringing estimated cumulative losses to 1,367.05 BTC (~$88.6M) across 4,585 addresses. The scale and repeated exploitation highlight ongoing operational and wallet-security risks, which can depress risk appetite, raise custody scrutiny, and prompt short-term shifts toward perceived safer storage and tighter counterparty controls across the crypto market.
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Galaxy Research said a third wave of attacks has hit addresses generated by Coldcard, with 207.7294 BTC stolen. Total losses tied to the Coldcard-related incidents are now estimated at 1,367.05 BTC, or about $88.6 million, spanning 4,585 addresses.
In earlier analysis, Galaxy Research reported that 1,196 addresses were fully drained for a combined 1,082.65 BTC, worth more than $70 million. The firm noted the theft unfolded within 41 minutes and began roughly 30 hours before Coldcard issued a public warning.
