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Coldcard Hack Funds Moved to ‘Crypto Recovery Trust’ Address

Galaxy Research said some bitcoin stolen in the Coldcard hardware wallet exploit has been moved by white-hat actors into a new address labeled ‘Crypto Recovery Trust’. On Sept. 21, a transaction consolidated 40.71 BTC worth about $3.31 million across 11 addresses, 20 inputs and 480 outputs, with ‘claims: cryptorecoverytrust.com’ written into an OP_RETURN. Galaxy’s Alex Thorn later said a broader sweep moved 52.37 BTC from attacker clusters into the same address, roughly 2.8% of the total stolen.

Original source

AI take

This is a notable instance of on-chain recovery being attempted in public rather than through a centralized seizure, with white-hat actors consolidating attacker-linked coins into a labeled address and even embedding a claims URL in the transaction. The open question is whether that address functions as a genuine restitution mechanism or simply a staging point, since the identity and authority behind the trust label are not established by the transaction data alone. The roughly 2.8% figure also underscores how little of the total has been touched, leaving the bulk of the stolen bitcoin's movement the thing to watch.

Generated by AI for reference only.

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