Galaxy Research flagged a third wave of sweeps tied to weak Coldcard-generated keys, with the attacker now targeting smaller balances and changing how funds are collected onchain.
- A vulnerability in a March 2021 Coldcard firmware release has enabled attackers to systematically drain bitcoin from thousands of wallets by reproducing keys generated with weak software-based randomness.
- Three distinct waves of attacks have now swept 1,367 bitcoin—nearly $89 million at recent prices—from 4,585 addresses, with the latest wave targeting smaller balances and using more complex, harder-to-trace transaction patterns.
- Galaxy Research believes each wave is the work of a single operator, but cannot determine whether the same attacker is behind all three, as the blockchain does not reveal whether separate sweeps are coordinated.
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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.
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