SECURITYFORTUNE
Why the latest Bitcoin hack hurt more than most
Coldcard, a manufacturer of offline crypto storage devices, was hit by a security lapse that resulted in at least $100 million worth of Bitcoin being stolen from customers. The breach occurred because Coldcard failed to implement a randomized process for creating seed phrases, instead relying on a predictable pattern that allowed hackers to guess others. This incident has sparked debate about the reliability of hardware wallets versus using reputable exchanges.
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Adjacent reporting
- COLDCARD wallet RNG flaw likely linked to $88 million Bitcoin theft
- What we know about ongoing Coldcard hack that's stolen over $100M worth of bitcoin
- Coldcard Hardware Wallet Flaw Linked to $70 Million Bitcoin Theft in 41 Minutes
- Coldcard Bitcoin Theft Continues, Now Estimated Over $114 Million In Total Stolen