Just a few days after admitting to a key vulnerability that left millions and millions worth of BTC in jeopardy, the team behind the self-proclaimed ‘best bitcoin hardware wallet’ published a key message urging users to migrate their funds.
Coldcard’s official X account informed customers that they should “treat this as urgent” and move their funds. The posts added that they have to follow the advisory of their models, upgrade their devices, generate a new seed, and “carefully” move their funds.
Please treat this as urgent. Migrate your funds. Follow the advisory for your model, upgrade your device, generate a new seed, and carefully move your funds.
Help spread the word, especially to people who are less online and may not see this update.
The threat is still ongoing. https://t.co/cbJxJles8x
— COLDCARD (@COLDCARDwallet) August 4, 2026
The Coldcard saga unraveled at the end of July. Some users first issued warnings online that their funds, stored on the hard wallet, had disappeared before the team admitted to a critical vulnerability in the code.
According to the latest estimations by Galaxy Research, the confirmed amount stolen is over $100 million. Some reports noted that the actual number could be around $130 million.
Market commentator Joe Consorti argued earlier that the attacker may struggle to spend a large portion of the swiped BTC since every BTC is being tracked on the public blockchain.
The post Coldcard Urges Users to ‘Carefully Move Funds’ as Exploit Losses Mount appeared first on CryptoPotato.
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