Galaxy Research: ColdCard Wallet Hacker Attack Scale Continues to Expand, Three Waves of Attacks Stole a Total of Approximately $88.6 Million Worth of BTC

TechFlow reports, August 2nd, according to monitoring by on-chain analysis firm Galaxy Research (@glxyresearch), the ColdCard wallet hacking incident has entered its third wave, with an additional 207.73 BTC stolen. To date, the three waves of attacks have cumulatively stolen 1,367.05 BTC (approximately $88.6 million), involving 4,585 addresses. On-chain data shows that the three waves of attacks exhibit highly similar characteristics: identical fund consolidation topology structures, identical P2WPKH target addresses, and mixed derivation paths. Each wave is spaced approximately 27 hours apart, suspected to be the work of the same attacker, but there is currently no direct evidence to confirm this.

Currently, all terminal addresses controlled by the hackers hold a total of 1,366.39 BTC (approximately $88.6 million), all of which are in an unspent state on-chain. Galaxy Research pointed out that the above data is based solely on Bitcoin block data and UTXO set analysis, and computational verification has not yet been conducted on whether the victim addresses have vulnerabilities due to low-entropy generation.