UPDATE: Most of the $BTC stolen in the Coldcard hack sits in just a handful of wallets, with the top 5 addresses holding nearly 83% of the confirmed stolen funds, per CryptoQuant's Julio Moreno.

What happened

CryptoQuant analyst Julio Moreno reported that most of the Bitcoin stolen in the Coldcard hack is now concentrated in a few wallets, with the five largest addresses holding about 83% of the confirmed stolen funds.

Confirmed

Global impact / market context

The concentration of stolen BTC in a few wallets makes it easier for investigators to track the funds and could increase pressure on the thieves to move or cash out, potentially affecting Bitcoin’s price stability.

Analyst inference

Bitcoin’s market has been sensitive to security breaches; large movements of stolen coins often trigger price volatility as traders react to potential sell‑offs or regulatory scrutiny.

Analyst inference

What to watch

1. Any large transfers from the top five wallets, which could signal attempts to liquidate the stolen Bitcoin and impact market supply. Analyst inference
2. Law enforcement or exchange actions to freeze or seize the identified wallets, which may reduce the amount of illicit Bitcoin in circulation. Proposed
3. Changes in Bitcoin price volatility following news of the hack’s fund concentration, as traders adjust positions based on perceived risk. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• x.com