$BTC Coldcard Hacker Swaps 10% of Stolen Bitcoin for ETH via THORChain
The attacker linked to the third wave of the Coldcard wallet exploit has begun swapping approximately 10% of the stolen Bitcoin for Ethereum via THORChain.
🔸 1,789 BTC (valued at around $114.7 million) was stolen from 8,865 addresses due to a 2021 firmware vulnerability, with 90% of the funds remaining in the original wallets.
🔸 The attacker encountered technical issues while swapping via THORChain, facing repeated transaction reversals and the need for multiple retries.
🔸 Analysts traced the $ETH to a new Ethereum address and shared the information with law enforcement, hoping to halt the money laundering process.
👉 This marks the first time funds from the original addresses involved in the three waves of Coldcard attacks have been moved on-chain. Using THORChain to swap BTC for ETH was a tactic intended to complicate tracking; however, technical difficulties slowed the process and led to its detection. The incident highlights the risks associated with hardware wallet seed generation vulnerabilities and underscores the importance of migrating assets to a new seed after patching the flaw.
💬 Do you think THORChain will face stricter scrutiny following this incident?
News is for reference, not investment advice. Please read carefully before making a decision.
$RUNE
The attacker linked to the third wave of the Coldcard wallet exploit has begun swapping approximately 10% of the stolen Bitcoin for Ethereum via THORChain.
🔸 1,789 BTC (valued at around $114.7 million) was stolen from 8,865 addresses due to a 2021 firmware vulnerability, with 90% of the funds remaining in the original wallets.
🔸 The attacker encountered technical issues while swapping via THORChain, facing repeated transaction reversals and the need for multiple retries.
🔸 Analysts traced the $ETH to a new Ethereum address and shared the information with law enforcement, hoping to halt the money laundering process.
👉 This marks the first time funds from the original addresses involved in the three waves of Coldcard attacks have been moved on-chain. Using THORChain to swap BTC for ETH was a tactic intended to complicate tracking; however, technical difficulties slowed the process and led to its detection. The incident highlights the risks associated with hardware wallet seed generation vulnerabilities and underscores the importance of migrating assets to a new seed after patching the flaw.
💬 Do you think THORChain will face stricter scrutiny following this incident?
News is for reference, not investment advice. Please read carefully before making a decision.
$RUNE
