Coldcard maker Coinkite preparing technical post-mortem on wallet hack: Report

Hardware wallet maker Coinkite will publish a detailed technical post-mortem of the Coldcard firmware exploit once it is safe to do so, the firm said in a statement to Bloomberg.

The exploit that surfaced last week has resulted in confirmed losses exceeding $100 million, according to Galaxy Research.

Researchers have verified the theft of 1,596 BTC from approximately 7,300 addresses across three coordinated attack waves. Including suspected but unconfirmed incidents could lift total losses to around $130 million, the firm said.

Coinkite declined to confirm estimates that hackers stole about $130 million in Bitcoin, saying it lacked the customer data needed to verify those figures due to its privacy-first design. The team stated that its immediate focus was on helping customers affected by the exploit.

Coinkite said it would continue providing real-time updates through its public blog before publishing a comprehensive review of the incident. It added that an industry-wide AI-assisted security audit has already identified several critical bugs across crypto software systems.

The incident has triggered a sharp rise in on-chain Bitcoin activity, with daily active addresses increasing to about 980,000, their highest level since December 2024, according to Glassnode.

At the same time, US spot Bitcoin ETFs saw $620 million in cumulative inflows as of Aug. 6 following the exploit, though ETF experts said there is no evidence the two developments are directly linked.