Coldcard Wallet Hack Losses Could Hit $114M With New Sweep
Losses tied to compromised Coldcard wallets may be approaching $114 million as a potential fourth wave of fund sweeps emerges.
If you're holding crypto on a Coldcard hardware wallet, pay attention — this story is moving fast and the numbers are getting ugly. Reports indicate that losses connected to compromised Coldcard devices could be closing in on $114 million, and a possible fourth sweep of affected wallets may already be underway. That's not a typo. Four sweeps.
Hardware wallets are supposed to be the gold standard of self-custody security. The whole pitch is that your private keys never touch the internet. When losses of this scale start piling up on a device built around that promise, it rattles confidence across the entire self-custody ecosystem — not just for Coldcard users.
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The emerging pattern of repeated sweeps is particularly alarming from a trader's perspective. Each new wave suggests that whoever is behind the exploit has either retained access to private key material or is systematically working through a compromised seed database. Either scenario is bad news for anyone who hasn't already moved their funds.
If you have assets on a potentially affected Coldcard, the tradeable move here is straightforward: don't wait for a fifth sweep to confirm the worst. Rotate your keys, move to a fresh wallet generated on a clean device, and treat any wallet touched by this incident as permanently compromised. The cost of action is low. The cost of inaction could be everything you've stored.
The full scope of the exploit and its origins are still being investigated. Continue reading at CoinDesk.
