CryptoSlate
Coldcard's $130 Million Crisis Pushing Bitcoin Back Into Wall Street's Hands
August 5, 2026•06:45 AM
The Coldcard hardware wallet exploit has resulted in the theft of at least 1,596 BTC from approximately 7,300 addresses as users frantically move funds from potentially vulnerable wallets. Galaxy Research confirmed losses from three major attack waves and 14 smaller incidents, with a possible fourth wave currently underway.
This security crisis is accelerating the adoption of institutional custody solutions, reversing years of efforts to decentralize Bitcoin. Trust in independent hardware wallets has been severely shaken, prompting many to seek Wall Street-supervised alternatives. The stolen value, estimated at $130 million, represents a significant blow to the Bitcoin ecosystem and may accelerate the consolidation of power in the hands of large financial institutions.
This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.
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