Coldcard exploit crosses $100M with 1,596 Bitcoin stolen: Wave 4 can push losses to $130M

What happened

A vulnerability in the Coldcard hardware wallet was exploited, leading to the theft of 1,596 Bitcoin, worth more than one hundred million dollars, and a later wave could increase total losses to about one hundred thirty million dollars.

Confirmed

Global impact / market context

The breach shows that even trusted self‑custody wallets can be hacked, increasing risk for users who keep crypto themselves and may push them toward services that handle security for them.

Analyst inference

The theft raises concerns about the safety of self‑custody crypto wallets, which could shift investor preference toward custodial services or more secure hardware, affecting demand in the crypto security market.

Analyst inference

What to watch

1. Coldcard’s release of patches or firmware updates that fix the vulnerability, which could restore user confidence and limit further thefts. Analyst inference
2. Regulators’ focus on self‑custody wallets, possibly leading to new security standards or disclosure rules for hardware wallet makers. Analyst inference
3. Investor movement toward custodial platforms or alternative hardware wallets, influencing capital flows within the broader cryptocurrency infrastructure sector. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• ambcrypto.com