The $116 million Coldcard hack rattled Bitcoin holders last week. Ian Rogers, Ledger’s Chief Human Agency Officer, told Bloomberg that the attack was not evidence of inherent hardware wallet risks, but rather a 2021 firmware bug that generated private keys with insufficient entropy (40 to 72 bits) through a software pseudorandom number generator. TRM Labs confirmed that 1,082 BTC were drained in just 41 minutes on July 30. Rogers outlined three AI-driven threats: increased attacker firepower to find vulnerabilities, faster code shipping expanding the attack surface, and enterprise agents with access to internal secrets. Ledger, which generates entropy entirely in a certified hardware chip with no software fallback, was not affected.
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