TREE NEWS update: Galaxy Research reports that thefts from Coldcard Bitcoin wallets have slowed, likely because vulnerable holders have either migrated to safer solutions or have already been drained. However, cumulative losses from these incidents could still exceed $150 million, highlighting ongoing security risks in the crypto space.
Coldcard Bitcoin Thefts Slow, But Losses Could Top $150M: Galaxy
The slowdown is less a resolution than an exhaustion of the target pool: once vulnerable wallets are drained or migrated, attack volume falls by default, not because the underlying flaw was fixed. That distinction matters for anyone holding self-custodied Bitcoin, since Galaxy's estimate implies the damage is already substantial and the remaining exposure is what determines whether the figure climbs further. Whether other wallet providers with similar vulnerabilities surface — and whether affected holders can attribute losses to a specific exploit — is the open question.
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