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Hardware wallet security has moved to the center of Bitcoin's custody debate as the estimated cost of the Coldcard wallet incident reaches $70 million.
Galaxy Research placed that figure on the event after identifying 1,196 addresses that lost 1,082.65 $BTC inside a 41-minute window, expanding the estimated scope of the incident beyond prior assessments.
Galaxy Research expands the loss count Earlier tallies understated the damage. Galaxy Research's analysis traced 1,082.65 $BTC in losses across 1,196 distinct addresses, all within a 41-minute window.
The compression of that sweep into under an hour points to a systematic process rather than a manual one, a distinction that shapes how the incident is categorized and how exchanges should approach screening inflows from the affected wallets.
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