Alright guys, quick update on the Coldcard wallet hack. White-hat hackers have moved 52.37 $BTC (around $4M+) into a recovery trust. This Bitcoin belongs to people whose funds were affected by the Coldcard exploit.
So what happens now?
The BTC is now controlled by the Crypto Recovery Trust (Wyoming-based). Theyâll try to find the real owners and return the funds. But proving ownership might be tricky, because wallet addresses and key verification are strict.$QI
What was the Coldcard exploit?
In simple terms: there was a vulnerability in Coldcard firmware. When generating a wallet seed, the hardware random number generator failed and fell back to a weak software-based RNG. That made seeds predictable, so attackers could potentially guess them and drain funds.$ONDO
White-hats identified some wallets before attackers did and moved the funds to a safe address. Galaxy Digitalâs Alex Thorn said around 40% of Wave 2 Bitcoin was rescued by white-hats.
If youâre affected:
If you were a victim of the Coldcard exploit, check the Crypto Recovery Trust website and search your wallet address. If theyâre holding your funds, you may be able to start a claim.
My take:
This is a rare positive crypto story where white-hats outsmarted hackers. 52 BTC is only a small chunk (~2.8% of the total exploit), but recovery is moving. Research on the rest is still ongoing.
If you use Coldcard, check your firmware update. Stay safe!
#Bitcoin #Coldcard #CryptoRecovery #BinanceSquare #FedProposesRulesForBankIssuedStablecoins