A critical vulnerability discovered in the seed phrase generation of ColdCard Mk3 hardware wallets led to the theft of nearly 1,400 BTC across approximately 4,500 addresses, valued at approximately $89 million. Contrary to analysts’ fears, BTC holders did not panic-sell on exchange platforms. Instead, they moved their funds to new wallets as a precautionary measure, evidenced by a record surge in active Bitcoin addresses rising from 645,000 on July 30 to nearly one million on July 31. In total, 77,402 BTC from older UTXO bands were moved following the public disclosure of the flaw.
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