Coldcard third-wave attacker moves 45% of stolen Bitcoin

The movement of nearly half the third-wave attacker's haul signals that dormant stolen funds are becoming active, which could heighten scrutiny on exchange and OTC liquidity points. With 82% of total stolen Bitcoin still untouched, the bulk of the theft remains a latent overhang, but the 18% in motion suggests a deliberate, gradual laundering process rather than a panic dump. This matters for forensic tracking and for any market participants monitoring supply dynamics, as the pace of future moves will indicate whether the remaining stash is likely to enter circulation. The key question is whether the pattern of partial transfers continues, which would confirm a methodical exit strategy.