Over $100 million Stolen—Coldcard Hardware Wallet Hacked! Can BTC at $64,062 Hold Up?
💡 Bearish Warning: Hardware wallets have been hit one after another, and panic sentiment is spreading—directly bearish for BTC.
Galaxy Research uncovered that the Coldcard hardware wallet has been confirmed hacked in three rounds, with cumulative losses exceeding $100 million. Even more alarming: 90% of the stolen BTC still hasn’t been dumped to sell off and exit. Investigators are now watching for a suspected fourth wave of attacks—once confirmed, total losses could jump directly to $130 million.
What’s going on?
Simply put, it’s the hardware wallet Coldcard—branded as “the safest” —that has turned out to be the problem. Galaxy Research’s report shows that hackers successfully stole Bitcoin worth over $100 million in three separate batches. This isn’t a small incident; it’s a real, chain-reaction security breach. The detail that’s most chilling is this: that 90% of stolen BTC is still sitting in the hackers’ address and hasn’t moved. Think about it: Bitcoin worth tens of millions of dollars is hanging overhead, and could hit the market at any moment. If the fourth wave attack is confirmed, they will likely have even more coins in hand.
Impact on the market
The market impact is very direct:
- Short term: Pure sentiment-driven bearish pressure. While $100 million isn’t likely to be fatal to the entire crypto market, the panic narrative of “hardware wallets are unsafe” can spread fast. Retail investors’ first reaction is usually to move coins from smaller exchanges and self-custody wallets into cold wallets—or sell outright to reduce risk. This uneasy sentiment will suppress any rebound in price.
- Medium term: A sharp rise in industry trust costs. The leaders in the hardware wallet space will face a serious trust crisis. Regulators may also seize the opportunity to step in, potentially triggering a new round of security reviews targeting self-custody wallet providers.
My take
My view is clear: bearish in the short term. Even though BTC is currently quoted at $64,062.01 and has barely held onto a 2.00% gain over the past 24 hours, this “sword hanging over the market” effect from the hacker incident hasn’t really played out yet. If there’s any on-chain movement involving the stolen 90% of BTC, or if the fourth wave is officially confirmed, selling pressure could instantly punch through nearby support. Don’t rush in and catch a falling knife—focus on defense. For short-term trading, consider attempting a small short position on rallies in thin size. ETH will likely be dragged down by broader market sentiment as well; the $1,868.81 price is very likely to lose support, and breaking below the lower bound of the recent consolidation range is only a matter of time.
- Asset: BTC / ETH
- Direction: Bearish 📉 Predicting a fall
- Duration: BTC 12 hours / ETH 24 hours
If you find this useful, give it a like and share it with your group friends to remind everyone to manage the private keys in your hands and don’t blindly chase bottoms.
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After a similar post like “Galaxy helps early investors facilitate a potential $9 billion Bitcoin sale” (2025-07-25) was published, BTC 12h saw an increase/decrease of +0.65%. The bearish prediction was ❌ incorrect.
- There were 136 historical bearish-news items related to Bitcoin; 64 of them matched the actual price direction (accuracy 47%).
⚠️ Not investment advice
💡 Bearish Warning: Hardware wallets have been hit one after another, and panic sentiment is spreading—directly bearish for BTC.
Galaxy Research uncovered that the Coldcard hardware wallet has been confirmed hacked in three rounds, with cumulative losses exceeding $100 million. Even more alarming: 90% of the stolen BTC still hasn’t been dumped to sell off and exit. Investigators are now watching for a suspected fourth wave of attacks—once confirmed, total losses could jump directly to $130 million.
What’s going on?
Simply put, it’s the hardware wallet Coldcard—branded as “the safest” —that has turned out to be the problem. Galaxy Research’s report shows that hackers successfully stole Bitcoin worth over $100 million in three separate batches. This isn’t a small incident; it’s a real, chain-reaction security breach. The detail that’s most chilling is this: that 90% of stolen BTC is still sitting in the hackers’ address and hasn’t moved. Think about it: Bitcoin worth tens of millions of dollars is hanging overhead, and could hit the market at any moment. If the fourth wave attack is confirmed, they will likely have even more coins in hand.
Impact on the market
The market impact is very direct:
- Short term: Pure sentiment-driven bearish pressure. While $100 million isn’t likely to be fatal to the entire crypto market, the panic narrative of “hardware wallets are unsafe” can spread fast. Retail investors’ first reaction is usually to move coins from smaller exchanges and self-custody wallets into cold wallets—or sell outright to reduce risk. This uneasy sentiment will suppress any rebound in price.
- Medium term: A sharp rise in industry trust costs. The leaders in the hardware wallet space will face a serious trust crisis. Regulators may also seize the opportunity to step in, potentially triggering a new round of security reviews targeting self-custody wallet providers.
My take
My view is clear: bearish in the short term. Even though BTC is currently quoted at $64,062.01 and has barely held onto a 2.00% gain over the past 24 hours, this “sword hanging over the market” effect from the hacker incident hasn’t really played out yet. If there’s any on-chain movement involving the stolen 90% of BTC, or if the fourth wave is officially confirmed, selling pressure could instantly punch through nearby support. Don’t rush in and catch a falling knife—focus on defense. For short-term trading, consider attempting a small short position on rallies in thin size. ETH will likely be dragged down by broader market sentiment as well; the $1,868.81 price is very likely to lose support, and breaking below the lower bound of the recent consolidation range is only a matter of time.
- Asset: BTC / ETH
- Direction: Bearish 📉 Predicting a fall
- Duration: BTC 12 hours / ETH 24 hours
If you find this useful, give it a like and share it with your group friends to remind everyone to manage the private keys in your hands and don’t blindly chase bottoms.
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After a similar post like “Galaxy helps early investors facilitate a potential $9 billion Bitcoin sale” (2025-07-25) was published, BTC 12h saw an increase/decrease of +0.65%. The bearish prediction was ❌ incorrect.
- There were 136 historical bearish-news items related to Bitcoin; 64 of them matched the actual price direction (accuracy 47%).
⚠️ Not investment advice