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Bitcoin losses tied to Coldcard vulnerability reach $70 million, Galaxy Research finds

8/1/2026

Hardware wallet security is under fresh scrutiny after Galaxy Research linked roughly $70 million in Bitcoin losses to a vulnerability affecting Coldcard signing devices.

Galaxy said nearly 1,200 addresses were drained of more than 1,000 $BTC, a figure the firm attributed directly to the flaw.

What the on-chain record shows The breadth of Galaxy Research's figure points to systematic exploitation.

Nearly 1,200 distinct addresses drained of more than 1,000 BTC implies the vulnerability was repeatable at scale across a large address population.