Block’s engineering team identified the entity behind the COLDCARD hardware wallet exploit, tracing the attacker to a blockchain services provider. The breach, which occurred on July 30, drained approximately 594 BTC, worth roughly $38M, from around 500 wallets in a 25-minute window. The vulnerability stemmed from a firmware update in March 2021 (version 4.0.0) that deactivated the hardware random number generator on affected devices, primarily Mk3 models and some Mk2 units. Coinkite advised affected users to generate new seeds on unaffected hardware and migrate all funds immediately. Newer models, including Mk4, Q, and Mk5, were not affected by the RNG flaw.
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