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Public · Published
UPDATE: Block's Max Guise says the team traced the Coldcard wallet drains to a random-number-generation flaw affecting Mk2 through Mk5 devices. Affected users are urged to move funds to a new, unaffected wallet as soon as safely possible.
Block's Max Guise said the team identified a random-number‑generation flaw in Coldcard Mk2‑Mk5 devices that allowed funds to be drained, and users are being asked to move their assets to a safe wallet immediately.
Published:
Updated:
What happened
Block’s Max Guise said the team identified a random-number‑generation flaw in Coldcard Mk2‑Mk5 devices that allowed funds to be drained, and users are being asked to move their assets to a safe wallet immediately.
Confirmed
Global impact / market context
A security flaw in a widely used hardware wallet can cause direct financial losses for investors and raise doubts about the safety of offline crypto storage, prompting a shift to other solutions.
Confirmed
Coldcard is a popular hardware wallet used by crypto investors to store private keys offline. A flaw that lets attackers drain funds can quickly spread concern across the broader cryptocurrency security market.
Confirmed
What to watch
- Whether Coldcard releases a patched firmware or new hardware, which will determine how quickly users can secure their holdings. Analyst inference
- The speed at which affected users transfer funds, influencing short‑term demand for alternative wallets and related services. Analyst inference
- Regulatory responses or guidance on hardware‑wallet security that could affect industry standards and investor confidence. Analyst inference