Alex Thorn, head of research at Galaxy Research, suspects a fourth coordinated wave of attacks targeting Coldcard wallets equipped with vulnerable firmware. The total across four waves now exceeds 1,800 BTC, approximately 114 million dollars at current prices, after 1,367.05 BTC were stolen during the first three waves from 4,585 addresses. Coinkite has suspended shipments and destroyed affected devices, warning that firmware updates do not fix a seed generated on vulnerable firmware: exposed users must generate a new one. Bitcoin trades around $62,600, down roughly 1.3% on the day, but the decline cannot be directly attributed to the Coldcard affair, as the volume moved is too small to exert significant pressure on such a liquid market.
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