Galaxy Research said weak seed generation let an attacker recreate likely private keys offline, sweep more than 1,000 BTC from nearly 1,200 wallets and continue searching without ever accessing the devices.

  • More than 1,000 bitcoin, worth about $70 million, were drained from 1,196 Coldcard wallets in a 41-minute span on July 30, nearly double the loss first reported.
  • Researchers say a firmware flaw in certain Coldcard hardware wallets made supposedly unguessable seed phrases computationally enumerable, allowing attackers to reconstruct private keys without ever touching the devices.
  • Security firms warn that more wallets could be hit because owners cannot reliably tell if their seeds were generated on vulnerable firmware, even as investigators trace the attacker through logs from a blockchain data provider.

The provider appears to have been supplying ordinary services to requests that gave no indication of their purpose. Block has passed the information to authorities.

Cold storage promises that a key is unguessable. Everyone read it as a promise that a key is unreachable, and the cost of finding and exploiting flaws in the first kind keeps falling.

Anthropic published research on Tuesday showing one of its models halving the security of a candidate post-quantum algorithm in 60 hours, against a design that had survived two years of expert review.

Storing a key safely is now the easier half of the problem.

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The Definitive Stablecoin Landscape Series: Asia Pacific

As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.

Why it matters :

As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.

Once a $2 billion Ethereum layer-2, Blast is shutting down after assets plunge 98%

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