I always believed that cold wallets are the safest and unbreakable. Today Coldcard has had an incident—looks like we need to learn from Koreans about using physical dice-rolling to generate mnemonic phrases. I’m using a Ledger cold wallet now; I didn’t realize the official one also has an offline tool. I should set it up as soon as I can. According to Beincrypto, the Coldcard vulnerability incident was caused by a flaw in the random number generator (RNG) of the Coldcard hardware wallet, which allowed the vulnerability to be exploited. A total of more than 1,596 bitcoins (about $130 million) were stolen from roughly 7,300 addresses. Korean community situation Even though experienced Bitcoin holders in Korea widely use Coldcard, there have been almost no reports of direct losses from that community. The core reasons Korean holders are avoiding risk DIY randomness (Entropy): The Korean community has long advocated not relying on any single vendor’s internal randomness generator. Entity-generated mnemonics: Users create true randomness by tossing dice or coins (e.g., 128 or 256 tosses) and export the BIP39 mnemonic completely offline. Strict physical isolation: Use a paper-based BIP39 single-word table for verification, and only compute the checksum (Checksum) via offline tools like SeedSigner; meanwhile, add an extra layer of protection with a passphrase generated from the dice. Differences in how information is shared within communities Limitations of the English community: The English community relies too heavily on KOLs and influencers, and some influencers and the manufacturer Coinkite have sponsorship or interest ties—leading to trust being amplified within the same echo chamber and independent verification being overlooked. Independence of the Korean community: Korean community leaders tend to remain neutral, with no commercial entanglements, allowing them to provide more objective risk assessments and security advice. Key takeaways The principle of “Don’t trust, verify” for Bitcoin should not be applied only to code, but also to information sources. Any RNG preset in a hardware wallet should be considered untrusted. It’s recommended to generate randomness in a physical way yourself whenever possible.
Another expert is bullish on $BTC today. He said it could reach $1 million or even higher. This guy is Arthur Hayes, a well-known crypto entrepreneur in the industry, a former investment banker, and co-founder of the crypto derivatives trading platform BitMEX. Yes, the BitMEX that is set to stop operating. According to Cointelegraph, Hayes believes the debt-driven AI infrastructure boom could trigger a credit crisis similar to 2008. And the government’s liquidity-infusion rescue measures that follow would ultimately push Bitcoin (BTC) to $1 million or higher. Key thesis (a credit crisis, not an internet bubble) Hayes argues that the AI wave is more like “2008 credit risk” rather than the “2000 internet bubble.” Investors mistakenly treat data-center and power-infrastructure investment as high-growth tech investment, when in essence it’s closer to highly leveraged real estate. Bitcoin and Ethereum price outlook Before the credit cycle evolves and liquidity is released, Bitcoin could stay in the $60,000 to $70,000 range, with a pullback dipping toward $50,000. Then, it would surge as policy-driven rescue efforts boost liquidity. In addition, he predicts that Ethereum (ETH) will reach $5,000 by year-end. The worry stemming from massive lease commitments and leverage differences Microsoft, Meta, Oracle, Amazon, and Alphabet have already locked in about $1.09 trillion in data-center lease agreements that have not yet taken effect. Even though these expenditures are spread over many years and can’t simply be viewed as direct liabilities, the financial strain on each of these giants varies—Oracle, for example, has a debt/EBITDA ratio of 4.3x, and there is a maturity-mismatch risk between its data-center leases lasting 15–19 years and customer contracts that are only about 5 years.
A new EIP-8361 proposal for Ethereum has sparked widespread controversy in the community. Aave founder Stani Kulechov was the first to strongly question and oppose the proposal. His reason: low staking yields are bad for DeFi projects—but in the long run, they may be favorable for ETH’s price. Of course, the new proposal is a double-edged sword; it depends on how to balance things. Without the ETH ecosystem, the price would still be unable to stand firm. According to content introduced by Fxstreet: EIP-8361 Proposal Content and Purpose Background: Ethereum’s staking rate exceeded one-third of total supply in April. The development team predicts that, if no restrictions are added, the total staked amount could surpass 70 million ETH by January 2028 (more than 55% of total supply). Mechanism: The proposal suggests introducing a “SATURATION_BALANCE” parameter (about 50% of total supply). When the staking ratio approaches 50%, the system will gradually deduct and burn validator rewards, causing the net staking yield rate to decrease toward zero, thereby keeping the staking ratio below 50%. Goal: Control ETH’s growth rate, prevent network security risks caused by excessive staking (such as retail validators being pushed out and institutions monopolizing validation activities), and reduce the inflation-dilution cost borne by non-staking holders. Aave Founder’s Opposition Stani Kulechov believes the proposal is harmful to Ethereum’s network development. Damaging institutional and retail participation: The uncertainty of rewards would reduce staking returns, severely affecting institutional investors and independent validators (Solo Stakers) willingness to participate. Hitting the DeFi ecosystem: Removing staking rewards of more than 50% would weaken ETH’s lending strategies, undermine application scenarios within the DeFi system, and may cause capital to flow toward stablecoins and other yield-bearing assets. He argues that “Ethereum should not be punished for its normal growth,” and believes the proposal should not be approved.
Samsung is embracing crypto, too—and while big manufacturers usually aren’t optimistic about doing so, for example see SONY. According to a report from the website Pymnts, Samsung is further positioning itself in the digital-asset space by supporting stablecoins and acquiring a stake in a cryptocurrency exchange. The main highlights are as follows: Native stablecoin integration: At the Galaxy Unpacked event, Samsung announced native stablecoin support for Samsung Wallet, aiming to build a connected financial ecosystem spanning Galaxy devices and services, and to enhance the experience of quick and convenient value transfers. Stake in crypto exchange Dunamu: Samsung’s three affiliated companies (Samsung Securities, Samsung Bank/Samsung Card, and Samsung SDS) collectively invest KRW 612.8 billion (about $408 million) to acquire a 4% stake in Dunamu, the parent company that operates Upbit, South Korea’s largest cryptocurrency exchange, thereby entering the digital-asset infrastructure sector. Planning for regulation and the future market: As South Korea moves to advance the “Digital Asset Basic Act” to regulate trading, custody, and stablecoin issuance, analysts say Samsung’s series of initiatives will leave it well prepared for the promotion and issuance of USD and KRW stablecoins. $USDC $USDT