#baby $BABY
Coldcard had an incident. A firmware bug hidden for 5 years—the hardware random number generator was skipped, and the chip’s serial number + clock registers were used as the “random number.” Attackers were able to compute the private keys remotely.
In 25 minutes: 500 wallets, 594 BTC, $38 million. Later, Galaxy Research estimated the actual figure was over 1,000 BTC and $70 million.
I didn’t touch your device. I didn’t hack your network. It’s just that your “random” was never random from the beginning.
This exposes a fundamental issue: what exactly should Bitcoin’s security model trust?
Hardware wallets? A single firmware bug is enough.
Centralized custody? Kraken froze funds, FTX ran away, and exchanges collapsed.
Wrapped tokens? FBTC/eBTC TVL fell 77%, getting liquidated and forced out by Aave.
TBV’s choice is: don’t trust anything—only trust the Bitcoin chain itself. Vault conditions are verified on the Bitcoin network using cryptographic proofs from BitVM3. No firmware, no company, no bridge—only cryptography.
@BabylonLabs_io $BABY #baby #BTC #DeFi
Coldcard had an incident. A firmware bug hidden for 5 years—the hardware random number generator was skipped, and the chip’s serial number + clock registers were used as the “random number.” Attackers were able to compute the private keys remotely.
In 25 minutes: 500 wallets, 594 BTC, $38 million. Later, Galaxy Research estimated the actual figure was over 1,000 BTC and $70 million.
I didn’t touch your device. I didn’t hack your network. It’s just that your “random” was never random from the beginning.
This exposes a fundamental issue: what exactly should Bitcoin’s security model trust?
Hardware wallets? A single firmware bug is enough.
Centralized custody? Kraken froze funds, FTX ran away, and exchanges collapsed.
Wrapped tokens? FBTC/eBTC TVL fell 77%, getting liquidated and forced out by Aave.
TBV’s choice is: don’t trust anything—only trust the Bitcoin chain itself. Vault conditions are verified on the Bitcoin network using cryptographic proofs from BitVM3. No firmware, no company, no bridge—only cryptography.
@BabylonLabs_io $BABY #baby #BTC #DeFi