Coldcard Hack Losses Reach 1,789 BTC, With Most Funds Still Untouched

Galaxy Research has attributed the theft of 1,789.28 Bitcoin, worth about $114.7 million at the time of the attack, to the Coldcard hardware wallet hack. According to researchers, roughly 87% of the stolen funds, totaling 1,561 Bitcoin, remain unmoved and sitting in wallets controlled by the attackers, including all coins taken during the first three waves of the attack.

Some Funds Show Signs of Movement

While most stolen Bitcoin has stayed dormant, researchers noted that funds taken in later attack waves have started moving through privacy focused techniques such as CoinJoin transactions and peel chains, methods commonly used to obscure the trail of stolen cryptocurrency.

Victim Reports Reveal Scale of Losses

The findings are based partly on 221 victim reports covering nearly 791 Bitcoin in losses, representing about 44% of the total attributed theft. More than half of these individual cases involved losses exceeding 1 Bitcoin. Galaxy Research has shared attacker wallet addresses with exchanges and law enforcement in hopes of freezing the funds if they attempt to cash out.