News linked to both this project and an event.
Odaily News, Stacks co-founder Muneeb shared his views on the Coldcard wallet incident, summarizing lessons learned in three areas: Bitcoin storage strategy, quantum computing threats, and ecosystem security building. Regarding Bitcoin storage strategy, he noted that many industry security experts are not even familiar with Coldcard, and top-tier security research institutions may not have conducted thorough audits of its code. Muneeb believes the best approach going forward should be asset diversification rather than concentrating all funds in a single solution, and suggested:1. Allocate 20%-30% of BTC to ETFs, such as BlackRock's Bitcoin ETF IBIT, for professional custody and regulatory protection;2. Allocate 40%-50% of BTC to multisignature solutions like Casa, such as the three-key model, spreading keys across security companies, mobile devices, and hardware wallets;3. Allocate 20%-30% of BTC to more advanced self-custody approaches, combining different hardware wallets and diverse entropy sources.On the quantum computing threat, Muneeb stated that once quantum computers break through existing encryption systems in the future, Bitcoin users may experience a shock similar to "BTC suddenly being transferred out of cold wallets." The quantum threat is real, and the industry should prepare in advance rather than underestimate technological progress, especially against the backdrop of large language models accelerating scientific research breakthroughs.
Bloomberg Senior ETF Analyst Eric Balchunas commented on the Coldcard wallet security incident, questioning whether a company with only about 5 employees is suitable to undertake such critical Bitcoin storage responsibilities. He stated that the number of employees behind Coldcard "seems unbelievably low," asking whether people would be willing to store their life savings in a bank with only 5 employees headquartered in Canada. In the crypto industry, this might be viewed as a feature, but from a traditional finance perspective, it becomes a clear risk signal. Balchunas further stated that, in comparison, institutions with larger teams such as Coinbase and Ledger may hold advantages in security investment and operational capabilities, even if users need to bear higher transaction costs. Bitcoin ETFs offer another option: investors can obtain the security guarantees provided by large, professional, regulated financial institutions while also enjoying lower management fees.
According to the South China Morning Post, researchers from the People's Public Security University of China have developed an AI framework capable of detecting illegal cryptocurrency transactions, with an overall accuracy of 89.4%, a precision of 89.1% for illegal transactions, and a recall rate of 64.5%. The system combines dynamic graph neural networks, memory modules, and large language models. By analyzing transaction structures, fund flows, and historical illegal transaction patterns, it generates risk scores and reasoning chains, providing regulatory agencies with a traceable basis for decision-making. The research results were published in the peer-reviewed journal Journal of Intelligence, with the test dataset sourced from the public Elliptic Bitcoin transaction dataset, containing over 200,000 transaction nodes.
as the suspected hacking incident involving Coldcard wallets continues to unfold, Bitcoin small-value transfers have surged significantly, reaching their highest level since the FTX exchange collapse, reigniting market discussions on Bitcoin self-custody security.Julio Moreno, Head of Research at CryptoQuant, disclosed data on X platform showing that the number of on-chain Bitcoin transfers below 1 BTC has risen to its highest level since November 2022, with approximately 39,600 BTC transferred in a single day—only about 300 BTC below the record of 39,900 BTC set on November 16, 2022, just days after FTX filed for bankruptcy. He believes that users proactively taking action to address risks is a positive signal. Additionally, Eric Balchunas, Senior ETF Analyst at Bloomberg, noted that Bitcoin ETFs, backed by a mature regulatory framework and convenience, may offer some users a safer investment approach.However, industry insiders point out that the Coldcard incident more likely reflects issues with a single wallet provider or specific security processes, rather than indicating a failure of the entire Bitcoin self-custody system. This event once again highlights the importance of security awareness, risk diversification, and wallet usage habits in personal asset management.
Odaily News: According to monitoring by Galaxy's Head of Research, a victim's Coldcard wallet was compromised in a hacker attack involving nearly 30 BTC, of which 17 BTC were swapped for ETH via THORChain and subsequently deposited into Duel.comcasino. The victim and a researcher have sent emails to all known addresses associated with Duel.comcasino, requesting that the relevant funds be frozen, and provided all transaction and deposit information. The hacker deposited 229.72497255 ETH, valued at $445,000, into Duel.comcasino—funds originating from the Coldcard attack involving approximately 30 BTC. The victim stated that Duel.comcasino responded by saying that the police would need to contact their team. Duel.comcasino's anti-money laundering policy claims it enforces Know Your Customer (KYC) procedures and complies with all applicable laws. Duel.comcasino was notified within minutes of the deposit being completed. To date, Duel.comcasino has not frozen the relevant funds. Since most of the Western world had already passed midnight at the time of the incident, police reports cannot be filed until at least Monday. If Duel.comcasino fails to freeze the funds, the victim will pursue legal action against them. Duel.comcasino's X account has been suspended, and Galaxy's Head of Research has also flagged individuals on X suspected of being associated with the platform, including team members and dealers: @korraflow, @atrois7, @MiaMalkova.
Odaily News, Galaxy Research Head Alex Thorn posted on X platform, stating that the attack targeting wallet addresses with weak random numbers generated by Coldcard is still ongoing. Users who still hold funds in Coldcard single-signature wallets should immediately migrate to secure addresses. New victim addresses and attacker addresses are continuously being added to the investigation database, and Galaxy Research plans to release updated statistics on the number of affected addresses.He noted that the previously identified waves 1, 2, and 3 of the attack exhibit clear programmatic characteristics, and the stolen BTC currently remains in the attacker's addresses without any transfers. However, in recent times, smaller-scale attackers have begun exploiting the vulnerability to steal funds and move them through peeling chains, cross-chain services, and other methods. It is certain that single-signature wallet addresses generated by Coldcard after the March 2021 firmware upgrade are all potentially at risk, and users should migrate funds as soon as possible.Previously reported, Galaxy Research has disclosed that the Coldcard vulnerability attack has affected approximately 1,367.05 BTC (approximately $88.6 million), involving around 4,585 addresses.
According to Livecoins, during a routine inspection of a scrap factory in Belo Horizonte, the Brazilian Minas Gerais State Military Police discovered an illegal Bitcoin mining farm on the second floor. At least 15 ASIC miners (suspected to be Bitmain Antminer S17 series) and three servers were seized on site, with the equipment valued at over 200,000 reais. Local energy company Cemig confirmed that the mining farm had been operating using stolen electricity for a long time, causing monthly losses of approximately 60,000 reais. A 37-year-old employee was arrested on the spot for theft and fencing stolen goods after failing to provide the source and invoices for the equipment, and two company executives were also placed under investigation. The police stated, "There may be some kind of criminal organization behind this," and are currently tracing the flow of the cryptocurrency mined by the farm.
Galaxy Research stated in a post on X that the attack targeting wallet addresses generated with weak randomness by Coldcard is still ongoing. The team urges users to immediately migrate funds from affected Coldcard single-signature wallets to secure addresses.They stated that approximately 600 suspected attacker addresses have been submitted to federal investigators, industry compliance bodies, and cross-industry cybersecurity investigators. These addresses are believed to hold funds stolen from Coldcard wallets with weak randomness.The team also noted that victims have proactively shared wallet addresses and transaction hashes, helping researchers establish on-chain attack patterns and further identify more affected wallets and attack addresses. Currently, multiple parties within the Bitcoin and crypto industry are assisting in user asset protection and attack tracing efforts.Galaxy Research previously stated in a post on X that a third wave of attacks suspected to target Coldcard-generated addresses has emerged, with 207.7294 BTC already transferred out. According to on-chain tracking data, the Coldcard wallet attack incident has so far involved approximately 1,367.05 BTC, valued at approximately $88.6 million, affecting 4,585 addresses.
: Michael Saylor posted on X platform that the company announced its BTC monetization plan on June 29, which was earlier than the release of its second-quarter earnings, and it was not introduced after incurring losses.He stated that the company has never adopted a policy of "never selling Bitcoin," and the BTC monetization plan does not necessarily mean the company must sell Bitcoin. The company expects to continue being a net buyer of Bitcoin in the future.
Odaily News: The U.S. Securities and Exchange Commission (SEC) has frozen the approval of Nasdaq's QBTC bitcoin options in order to re-examine the decision after a legal challenge from CME Group. CME Group argues that, since bitcoin is a commodity, options linked to its value should fall under the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC), not the SEC. The approval remains suspended while the SEC reviews the dispute, with interested parties able to submit comments until August 24.
Strive Vice President Joe Burnett posted on X, saying that recent weeks may be among the worst in Bitcoin's history. Many people purchased approved hardware wallets, generated seed phrases offline, and followed established best practices, yet still lost significant amounts of Bitcoin due to a vulnerability affecting seed phrases generated by COLDCARDwallet since March 2021. The vulnerability went undetected for over five years. Joe Burnett stated this will permanently change people's confidence in self-custody. Self-custody will still exist, but it has been permanently changed. For those who want to directly control large amounts of Bitcoin, the standard should be multi-vendor multisignature, with keys independently generated using different hardware and different software, and stored in different physical locations. If they cannot accept this approach, they should use institutional-grade custodians. Joe Burnett noted that the current wave of Bitcoin adoption is occurring through ETFs, treasury companies, and institutional custodians, primarily driven by people who never intended to become experts in private key generation, hardware security, firmware, backups, inheritance planning, and physical storage. A single key generated by one hardware wallet protecting large amounts of Bitcoin carries excessively high concentration risk. Joe Burnett also said that institutional custody may ultimately lead to too much Bitcoin being concentrated in the hands of large companies, creating risks of censorship, seizure, and confiscation. However, Bitcoin's portability and settlement properties provide a critical counterbalance — users can create a wallet and request the custodian to send Bitcoin, shifting from counterparty risk to direct ownership within minutes. Joe Burnett believes that as long as Bitcoin itself remains secure, the failure of one custody method does not negate the underlying monetary system, but rather forces the market to develop better tools, stronger standards, and more resilient custody architectures. This week may ultimately mark the end of one era of Bitcoin custody and the beginning of the next wave of Bitcoin adoption.
Odaily News: Zurich-based crypto bank Sygnum Bank has integrated its regulated cryptocurrency services into the Bancastato online banking system, allowing clients in the Swiss canton of Ticino to buy, hold, and sell BTC, ETH, LTC, and SOL via Bancastato's web and mobile platforms without needing to open a separate exchange account. Bancastato has become the first bank to offer cryptocurrency trading through Sygnum's application programming interface within an Avaloq software-as-a-service banking environment. Clients can place market orders based on cryptocurrency quantity or dollar value, with Sygnum handling trade execution while Bancastato retains the client relationship, brand, and front-end experience. Sygnum stated that its B2B platform has provided trading, custody, compliance, and settlement infrastructure to more than 25 banks and international financial institutions, including partners such as Zuger Kantonalbank, Luzerner Kantonalbank, Postfinance, and VZ Vermögenszentrum. Sygnum noted that these collaborations have delivered regulated digital asset services to over one-third of the Swiss population through existing banking relationships.
Analyst Murphy stated that Bitcoin's current chip concentration is similar to that before the 2022 FTX collapse, and a highly concentrated chip structure could amplify price volatility. Jiang Zhuoer believes that if the CLARITY Act fails to pass before Congress adjourns, Bitcoin may witness the final drop of the bear market.
Galaxy Research stated on Friday that over 1,000 BTC from nearly 1,200 addresses have been moved, valued at approximately $70 million, with the transactions believed to be linked to a vulnerability affecting Coldcard hardware wallets.Earlier, Coldcard manufacturer Coinkite issued a warning on Thursday about an ongoing issue with seed phrases generated by Coldcard Mk3 devices. Out of caution, the company reminded all users who generated seed phrases using Mk3 devices with firmware version 4.0.1, released in March 2021, or later, that their funds may be at risk.Subsequently, Coinkite expanded the scope of its risk alert to include certain firmware versions of Mk4, Mk5, and Coldcard Q, and released emergency firmware updates for all affected models.Coinkite CEO Rodolfo Novak (also known as NVK) apologized on Friday and stated that the company takes "full responsibility" for the firmware vulnerability, acknowledging that internal review processes failed to identify the issue.Novak also suggested that the vulnerability may have been discovered with the help of artificial intelligence, noting that this incident reflects a "sobering reality under the new AI paradigm." He warned that AI-assisted code review could identify potential vulnerabilities faster than experienced security experts, while also making it easier for attackers to exploit weaknesses in public code.
Odaily News, according to Bitcoin News monitoring, Chainalysis analysis of the Coldcard exploit involving over $38 million shows that the attacker deliberately targeted the highest-value wallets first, including one holding $1.8 million, indicating that victims had already been profiled before asset transfers began. Approximately $30 million was stolen in the initial 10 minutes, followed by around 500 wallets being drained within 25 minutes. Block's Clay Garrett stated that investigators also confirmed the attacker used a paid account with a well-known blockchain service provider to query victim addresses during the operation. The provider's internal logs match the request timestamps and sequence, but Block stated that no evidence was found suggesting the company knowingly assisted in the theft. Relevant information has been shared with authorities.
According to BIT Official Chinese (@BITofficial_CN) analysis, the current crypto market faces dual pressure from the Federal Reserve's hawkish stance and the slowed progress of the CLARITY Act. Federal Reserve Chair Kevin Warsh maintains a hawkish stance; the 2-year US Treasury yield has risen cumulatively by approximately 35 basis points since late January, and the Committee has seen a pattern of 9 votes to maintain interest rates and 3 votes supporting rate hikes. Regarding the CLARITY Act, prediction markets indicate a mere 32% probability of it being signed by the end of 2026, with the legislative window continuing to narrow. Meanwhile, crypto market trading volume has retreated 80% from highs, total market cap has fallen approximately 50%, and USDT and USDC have shown no significant expansion since November 2025, reflecting an overall lack of new USD liquidity in the market. Despite this, Bitcoin remains within the $62,000 to $66,000 range, correcting only about 3% over the past week. It demonstrates stronger resilience compared to most altcoins, reflecting that active position adjustment pressure has been largely released. BIT points out that if Bitcoin subsequently regains $70,000 and drives multiple indicators to turn bullish, it will further confirm that the low point of this cycle has been established.
据 Cointelegraph 报道，加拿大比特币硬件钱包制造商 Coinkite 警告 Coldcard Mk3 用户立即迁移资金，受影响固件版本为 2021 年 3 月发布的 4.0.1 至最终版本 5.0.3，Mk4、Q 及 Mk5 不受影响。与此同时，比特币安全专家正在调查一起涉及 594.48 枚 BTC（约 3830 万美元）的异常清仓事件，涉及 1324 个 UTXO 在三个区块内通过 500 笔交易被转移，所有地址均为单签名地址。
Odaily News, BIT Official released a weekly report stating that trading volume in the crypto market has fallen 80% from its peak, contracting approximately 60% from the Q4 2025 high, while the total crypto market cap has also dropped 50%. The report noted that without a meaningful recovery in volume, the market will struggle to form a sustained rebound.Despite the market still digesting the double headwinds of the Fed's hawkish policy stance and stalled progress on the CLARITY Act, Bitcoin has held within the $62,000 to $66,000 range. BIT Official expects Bitcoin to eventually break upward.The report stated that Fed Chair Kevin Warsh has recently adopted a "say less, do less" communication strategy, and the uncertainty surrounding his policy stance is unsettling the market. Warsh has been known for his hawkish position over the past two decades, but the market had previously anticipated that, with Trump's support, he might push monetary policy in a more dovish direction. If that shift materializes, it could be a positive catalyst for Bitcoin.Additionally, prediction market data shows that the probability of the CLARITY Act being signed into law by the end of 2026 currently stands at just 32%. Senate Majority Leader John Thune has indicated that the Senate will prioritize other issues, and with the August recess approaching, the remaining legislative window for the bill is further narrowing.
Odaily News: Canadian Bitcoin hardware manufacturer Coinkite has warned users of Coldcard Mk3 signing devices to migrate funds from wallets whose seed phrases were generated by affected firmware. Coinkite stated that seed phrases generated by Mk3 firmware version 4.0.1 and later, released in March 2021, may put funds at risk, with the impact extending to version 5.0.3, the final version supporting the Mk3. Coinkite said that Mk4, Q, and Mk5 models are not affected; affected users should generate new seed phrases on unaffected devices, verify backups and receiving addresses, send a small test transaction first, and then migrate the remaining funds. The company said its investigation is still ongoing and that a formal technical review will be published. Bitcoin security experts are examining a centralized transfer of unclear origin involving 594.48 BTC in single-signature addresses, valued at approximately $38.3 million. Rob Hamilton, CEO and co-founder of AnchorWatch, stated that 1,324 unspent transaction outputs were moved via 500 transactions within a three-block window, with 562 BTC subsequently consolidated into another address. Kevin Loaec, CEO of Wizardsardine, said the current hypothesis is that a low-entropy random number generator has caused insufficient randomness in some wallets' seed phrases, with the relevant flaw potentially stemming from a software library, secure element, specific device batch, or firmware version. He added that this hypothesis has not yet been confirmed, and wallets from which only partial funds were transferred may still face the risk of subsequent theft.
: Bitcoin News posted on X platform, stating that Bitcoin Core developer instagibbs claimed to have successfully reproduced the reported COLDCARD vulnerability on a newly initialized COLDCARD MK3 device, using only the number of button presses during the setup process, and said, "Sorry, now is the time to panic." He believes the issue affects MK2/MK3 devices, but stated that it is currently unable to confirm whether the MK4 has the vulnerability. Developer Antoine Poinsot stated that the key difference is that the MK4 uses a hardware random number generator to provide entropy for the seed and actually utilizes the microcontroller's True Random Number Generator (TRNG), while the MK3 does not. The proof of concept and mnemonic phrase verification are still under review.