Posted on 08/01/2026 1:41:07 PM PDT by delta7
Experts have since said that those holding Bitcoin on a Coldcard device should move funds now.
Since over $70 million in Bitcoin was stolen yesterday by an attack that exploited a fault in the Coldcard’s system, it has been reported that the thief used a top blockchain services provider for help.
Writing on X Friday, engineer at payments company Block, Clay Garrett, said that the provider — who he did not name at the request of the services provider — had been contacted after finding blockchain movements matched the “suspected workflow” of the attacker.
“During our investigation of the Coldcard drain yesterday, we identified an unusual pattern in the sweeps,” Garrett said.
“That pattern led us to a hypothesis that has since been confirmed: the operator used a paid account at a well-known blockchain-services provider to query the source addresses and perform other related activity during the sweeps,” Garrett continued, adding that the authorities had been notified.
Galaxy Digital’s research arm also wrote on X that the thief had an unusual pattern of moving the coins.
“The pattern tells us these were all the same attacker — it does not capture the attack itself, which looks the same as if a coin owner chose to move coins,” the company said, adding that Bitcoiners should move funds out of single-signature Coldcard addresses and into secure custody.
After over $35 million in Bitcoin was drained from wallets on Thursday, Coinkite said that a firmware bug in Coldcard Mk3 devices — starting with version 4.0.1 in March 2021 — caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator.
This allowed private keys for many single-signature wallets (especially those created without dice rolls or a strong BIP-39 passphrase) predictable enough for attackers to brute-force.
Later on Friday, Coinkite admitted all of its models were vulnerable following more thefts. Over $70 million has so far been swiped and engineers have warned that more Bitcoin addresses could be at risk.
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With huge losses YOY, this could finally sink the Bismark.
* 128,00 down now to 62,000, YOY. The E money digital types are learning a hard lesson in what " money" is.
I only post the news. Do with the facts as you may. You are a big boy, Keep buying your Bitcoin and Digital currencies.
When the globalists eventually get their mandatory social credit score system in place, offline Bitcoin might be the only other game in town.
...for your viewing enjoyment.
“A second Coldcard hack has been reported. A total of 1,158.81 more $BTC
has been stolen from 2,673 addresses so far, according to Galaxy Research.”
.....sink the Bismark comes to mind.
You Bitcoiner e money pumpers need to stay up to speed. What would your wonderful thoughts be about Michael Saylor’s Strategy authorizing the sale of up to $5,000,000,000.00 more in Bitcoin?
Please oh great one explain this away.
“firmware bug” or backdoor?
“128,00 down now to 62,000, YOY. The E money digital types are learning a hard lesson in what “ money” is.”
$121 down to $58 now. You really tool a haircut on silver.
What I don’t understand is why you were selling every thing to buy silver at $121 when Socrates was telling you to a crash was coming?.
“What would your wonderful thoughts be about Michael Saylor’s Strategy authorizing the sale of up to $5,000,000,000.00 more in Bitcoin?
Please oh great one explain this away.”
Easy. Just another example of your misinformation.
Easy. It is an authorization. Not a sale.
Saylor is bullish on bitcoin and says the company will remain a net buyer.
firmware bug” or backdoor?
Anything that is only an electron on a screen, depends on electricity, an unknown computer program , has no intrinsic value, can not hold in your hand is not for me. Best to stick with time tested Wealth....land, property, equities only if they are registered with the DNTC, PM’s, and to some degree paper currencies for spending only.
That’s how us older, wiser guys accumulated our Wealth.
“One is decentralized digital scarcity, the other is physical with storage”
Never store gold in your mother’s basement!
Dollars can be embezzled or stolen by “brute force”. We’re learning that, if you have enough to matter, you want your money in more than one form and more than one location.
So that one bad bank, one stock market crash, one bad lawsuit, one hostile government, one burglar doesn’t wipe you out.
You might find this interesting.
He’s even a member of an organization called the American Philatelic Society, which is a fancy name for stamp collectors. Or at least Martin was a member of the American Philatelic Society, but as of today, he’s been kicked out.
The group has been getting complaints from Martin’s customers who say he hasn’t been fulfilling stamp orders, and when they ask for a refund, he refuses, which means either Martin has the rare items and just doesn’t want to part with them, or he’s pretending to hold stamps he doesn’t actually have.
https://podscripts.co/podcasts/scamfluencers/martin-armstrong-the-man-who-bet-billions-on-pi-224
“Dollars can be embezzled ... “
He knows all about that.
https://www.reuters.com/article/markets/us/ex-trader-armstrong-sentenced-to-5-years-idUSN10425035/
“you want your money in more than one form and more than one location. So that one bad bank, one stock market crash, one bad lawsuit, one hostile government, one burglar doesn’t wipe you out.”
He knows all about that.
https://caselaw.findlaw.com/court/us-2nd-circuit/1084705.html
Exactly! I am just a worn out old scrambler, took a few chances here and there, nearing the checkout counter now with a little better than pauper status -- but what I own is mine and I own it, can produce it, barter it if desired... am comfortable and leaving a little to my offspring - no debt for sure!
When Bitcoin first appeared I didn't understand it, it was cheap and easy to obtain, I just had to go to a pizza place across town and purchase a wallet, whatever, and remember a secure password. That is it! No proof of purchase, no gold card - nothing. Had I made the purchase then I suppose ideally I could be rich - if I could prove that I owned something... not for me!
At least a silver dollar is worth a dollar - I think, maybe more, maybe less. I can show physical proof of almost everything I own. If I missed out on some big chances - so be it. I am quite comfortable!
“That’s how us older, wiser guys accumulated our Wealth.”
You were selling everything to buy silver at $121 the day before the crash. You lost half.
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