[Title: Cold Card Vulnerability Leads to Theft of Over 1.778 BTC Worth $112 Million]
Hackers attacked the Cold Card hardware wallet, stealing 1.778 BTC (worth $112 million), sounding an alarm about self-custody wallet security.
Cold Card is a flagship product in the self-custody cryptocurrency solution space, but this time the hackers bypassed the device’s security safeguards through a vulnerability, directly stealing more than 1.778 bitcoins from users’ private keys. This incident shows that even hardware wallets can be targeted. The attackers’ method was to bypass Cold Card’s security verification process and directly access wallet files on a connected computer. The loss amount has already reached $112 million, a major blow to victims and it has also raised industry-wide concerns about hardware wallet security.
Impact on the market
- Short term: This event may prompt some users to shift toward custodial exchanges. Stocks related to Bitcoin and hardware wallets could face pressure. Risk-avoidance sentiment may rise in the market, and capital may flow out of cryptocurrencies toward safer assets.
- Medium term: The industry will accelerate the rollout of stronger security updates, but in the short term, demand for self-custody wallets may be dampened. Regulatory bodies may seize this opportunity to strengthen compliance requirements for hardware wallets.
My view
In the short term, Bitcoin is under pressure, with support around $63,000, but it needs to see signals of institutional capital returning before it can rebound. Users holding hardware wallets should immediately upgrade their firmware; those with a low risk appetite may consider reducing positions first.
- Coin: $BTC
- Direction: Bullish 📈 Predicting an upside move
- Duration: 12 hours
“Share with your crypto friends if you find it useful—avoid one more pitfall”
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After a similar news item, “Bitcoin margin surges by over $36 billion, driven by CME growth” (2024-10-14), BTC’s 12h price change was +0.94%; the outlook was bullish ✅ correct
- There are 282 historical bullish BTC-related news items; in 122 cases, the predicted direction matched the actual price action (accuracy rate: 43%)
#Security Incident
⚠️ This does not constitute investment advice
Hackers attacked the Cold Card hardware wallet, stealing 1.778 BTC (worth $112 million), sounding an alarm about self-custody wallet security.
Cold Card is a flagship product in the self-custody cryptocurrency solution space, but this time the hackers bypassed the device’s security safeguards through a vulnerability, directly stealing more than 1.778 bitcoins from users’ private keys. This incident shows that even hardware wallets can be targeted. The attackers’ method was to bypass Cold Card’s security verification process and directly access wallet files on a connected computer. The loss amount has already reached $112 million, a major blow to victims and it has also raised industry-wide concerns about hardware wallet security.
Impact on the market
- Short term: This event may prompt some users to shift toward custodial exchanges. Stocks related to Bitcoin and hardware wallets could face pressure. Risk-avoidance sentiment may rise in the market, and capital may flow out of cryptocurrencies toward safer assets.
- Medium term: The industry will accelerate the rollout of stronger security updates, but in the short term, demand for self-custody wallets may be dampened. Regulatory bodies may seize this opportunity to strengthen compliance requirements for hardware wallets.
My view
In the short term, Bitcoin is under pressure, with support around $63,000, but it needs to see signals of institutional capital returning before it can rebound. Users holding hardware wallets should immediately upgrade their firmware; those with a low risk appetite may consider reducing positions first.
- Coin: $BTC
- Direction: Bullish 📈 Predicting an upside move
- Duration: 12 hours
“Share with your crypto friends if you find it useful—avoid one more pitfall”
$BTC $ETH #BTC #ETH
📊 Historical backtest
- After a similar news item, “Bitcoin margin surges by over $36 billion, driven by CME growth” (2024-10-14), BTC’s 12h price change was +0.94%; the outlook was bullish ✅ correct
- There are 282 historical bullish BTC-related news items; in 122 cases, the predicted direction matched the actual price action (accuracy rate: 43%)
#Security Incident
⚠️ This does not constitute investment advice