A coordinated hack of Coldcard wallets drained investors of 1,800 BTC, exceeding $116 million in losses, by exploiting a software flaw in 2021 firmware. This vulnerability allowed hackers to mathematically calculate private keys from device serial numbers. In response, U.S. spot Bitcoin ETFs recorded $620 million in net inflows in just a few days, particularly IBIT and FBTC. Bloomberg senior ETF analyst Eric Balchunas highlighted this massive shift of investors toward regulated funds over self-custody solutions.
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