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TLDR On-chain analyses tie a legacy Coldcard firmware entropy flaw to thefts of roughly1,080- 2,055 BTC from thousands of wallets, triggering urgent migrations and security alerts. Deep Dive.... Researchers from Galaxy Research, Chainalysis and others traced coordinated sweeps starting around July30 to a bug in older Coldcard firmware that weakened seed entropy. The flaw replaced Coldcard's hardware random number generator with a predictable software fallback, cutting effective randomness and letting attackers brute-force seeds offline. Multiple attack waves have drained between about1,080 BTC and a likely ceiling near2,055 BTC, with estimates of5,200-7,700 vulnerable addresses. Coinkite has shipped patched firmware and urged users to regenerate seeds and move funds, while exchanges and ETFS report increased inflows as some self-custody holders relocate BTC. #BTC
#BTC This pump is going to get retraced, whether you like it or not. Price is now down roughly 4% from the highs, and still there are twice as many long liquidations as short liquidations. Usually, when there's an imbalance like this, it's just a matter of time before we see a correction. #BTC
#BTC Following the last seven FOMC meetings, price has dropped significantly right after every single one. What's interesting is that going into the March meeting, we saw a very similar setup to what we're seeing noW. Price pushed higher into the event, repeatedly Sweeping the highs and building up large amounts of liquidity below. That meeting marked the local top and was followed by a 13% correction, retracing most of the prior move. Heading into today's interest rate decision, all of these factors are in place again, with price now also sitting just below major HTF resistance, adding even more confluence to the downside scenario. If this plays out similarly, we could once again be looking at a local top forming around this event. #BTC