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Galaxy: Coldcard Hack Stole 1,789 BTC, 87% Still Unmoved

Galaxy reports that a hack involving Coldcard wallets resulted in the theft of 1,789 BTC, with 87% of the stolen funds still not transferred. The incident highlights security risks in the crypto space.

Original source

AI take

The standout figure here is not the loss itself but the dormancy: most of the stolen bitcoin has not moved, which suggests the attacker is either consolidating control, waiting out chain-surveillance attention, or holding keys it cannot yet safely use. That matters for anyone relying on hardware wallets as a custody backstop, since the episode points to a failure mode around the device rather than an exchange or counterparty. Whether the remaining balance eventually moves, and how it is split, is the open question worth watching.

Generated by AI for reference only.

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