News linked to both this project and an event.
according to Bitcoin News monitoring, this batch of Bitcoin is worth over $4 million, accounting for approximately 2.8% of the total Bitcoin related to the Coldcard vulnerability. Crypto Recovery Trust will verify the ownership of the funds and attempt to return them; Galaxy Digital research director Alex Thorn stated that another 3.0134 BTC was transferred to this address in the same transaction, but its source has not yet been confirmed.
According to Embers monitoring, an OTC whale or institution significantly reduced its ETH holdings following the market downturn, transferring 42,000 ETH to Galaxy Digital seven hours ago. The transfer was valued at approximately $112 million, executed at a price of around $2,664 per ETH. Over the preceding two months, this address had cumulatively acquired 52,000 ETH at an average cost of roughly $2,161, realizing a profit of approximately $21.12 million from this sale.
Odaily News — According to Onchain Lens monitoring, a whale deposited 42,000 ETH worth approximately $112 million to Galaxy Digital about an hour ago, reportedly for sale. Over the past two months, the whale had accumulated these ETH through over-the-counter (OTC) trades via Galaxy Digital.
Odaily reports: According to on-chain analyst Yu Jin's monitoring, a whale/institution accumulated 37,000 ETH two months ago through a Galaxy Digital OTC deal at an average price of $1,923. Today, it purchased another 15,000 ETH at $2,751, worth $41.26 million. It now holds a total of 52,000 ETH, worth $143 million, with an average cost of $2,161 and an unrealized profit of $31.1 million.
Odaily News: On September 21, a white hat actor transferred 40.71 BTC linked to the Coldcard vulnerability in a single transaction valued at approximately $3.31 million. The transaction consolidated funds from 11 addresses and included an OP_RETURN message pointing to the Crypto Recovery Trust.Alex Thorn, head of Galaxy Research, disclosed that the broader consolidation involved a total of 52.37 BTC across multiple clusters of attacker addresses, accounting for approximately 2.8% of the funds tied to the vulnerability. A firmware flaw in Coldcard devices dating back to March 2021 resulted in insufficient mnemonic seed randomness, with the total funds involved peaking at approximately $130 million. (Decrypt)
Odaily News: According to monitoring by Ai Yi, a certain whale has purchased 37,000 ETH through OTC since July, and after a one-month hiatus, has added to its position once again. Ten minutes ago, it received 2,500 ETH worth $6.868 million from a Galaxy Digital OTC address. Since July 22, this whale has accumulated a total of 39,501 ETH, with a position value of approximately $78 million and an average price of $1,974.72, now sitting on unrealized gains of $30.62 million.
Odaily News: According to monitoring by Galaxy's head of research, Coldcard white hat funds consolidated 52.37 BTC from Wave 2, Footprints AA, AU, and AX into a new address, which inscribed the OP_RETURN message "claim:cryptorecoverytrust dot com" in block 967,948. These white hat funds account for 2.8% of the Coldcard exploit attack funds.
Galaxy research director Alex Thorn (@intangiblecoins) noted in a post that BTC broke through and held above the 50-week moving average (50W MA) at this week's close, marking the first time in the past 45 weeks. Historical data shows that whenever BTC regains the 50-week moving average during a bear market, it signals that the bottom has been confirmed. Currently, BTC has gained 29% over 35 days, and market sentiment continues to recover.
According to Lookonchain monitoring, a whale bought another 116,400 HYPE worth $9.91 million 6 hours ago. Over the past 8 months, this whale has accumulated 1.89 million HYPE worth $159 million through Galaxy Digital, and has staked all of it.
Odaily News, according to Onchain Lens monitoring, over the past 4 hours, Galaxy Digital (0x1e4...58C7d) transferred 95,270 HYPE to Bybit and OKX, worth approximately $8.11 million. Among them, 36,420 HYPE was transferred to Bybit, worth approximately $3.1 million; 58,850 HYPE was transferred to OKX, worth approximately $5.01 million.
according to Bitcoin News monitoring, the Coldcard thief is prioritizing emptying the largest portion of the third wave of vaults. Galaxy Research stated that these wallets have transferred out 97.09 BTC, worth approximately $7.7 million, accounting for about 45% of the assets in this batch. The attacker created 293 2/2 vaults themselves and previously moved some tokens via THORChain on September 2, followed by multiple rounds of CoinJoin over the weekend. The vulnerability stems from a 2021 firmware flaw that reduced seed entropy to a minimum of 40 bits. Of the tokens stolen in this exploit, approximately 82% remain unmoved.
According to Galaxy Research, in the Coldcard wallet attack incident, the Wave 3 attacker has transferred approximately 45% of the stolen Bitcoin, with the related funds routed to Ethereum via THORChain or entering CoinJoin transactions to increase tracking difficulty. Galaxy stated that the attacker previously created 293 2-of-2 multisig vaults to hold victim funds, draining them from largest to smallest amount, and the funds in the 11 largest vaults have now been fully transferred out.
Odaily News: Over the past 18 years, the Bitcoin market has repeatedly seen the narrative of "this time is different," yet the structure of each cycle has largely continued. In 2014, 2017, 2020-2021, and 2024-2025, BTC’s maximum drawdowns were approximately 85%, 84%, 77%, and 53%, respectively, showing a gradual narrowing trend.Alex Thorn, Head of Firmwide Research at Galaxy Digital, released a chart stating that the current BTC drawdown is significantly smaller than those of previous cycles. Analyst Willy Woo noted that as the supply shock from halvings diminishes, Bitcoin may be transitioning from a four-year cycle to a six-to-eight-year cycle, although this assessment cannot yet be confirmed.In previous cycles, gains from the low point to the next all-time high were approximately 580x, 130x, 22x, and 8x, respectively. Analyst James Check pointed out that Bitcoin’s price floor has risen each cycle, while its peak has remained relatively stable. Jesse Myers stated that BTC may have just entered a two-to-three-year bull market. (Bitcoin.com News)
Odaily News According to on-chain analyst Ai Yi's monitoring, Multicoin Capital has reportedly sold HYPE worth $112 million since July 28, with an estimated profit of $64.08 million, representing a return rate exceeding 134%. Between January and July of this year, the entity built a position of 4.95 million HYPE tokens from Galaxy Digital at an average price of $32.32, and subsequently appears to have taken profits in batches on exchanges. Its most recent deposit to Coinbase occurred 3 hours ago, involving approximately 150,000 HYPE tokens valued at $12.78 million.
Odaily News: According to Onchain Lens monitoring, a whale transferred 95 bitcoins, worth approximately $7.32 million, to Galaxy Digital, reportedly for sale through over-the-counter trading.
Odaily News reported that Galaxy Research tracking found that 6 bitcoin wallets, dormant since 2011, 2012, and 2014, transferred a total of 553.59 BTC between August 16 and 26, valued at $40.15 million at the time of transfer. Two of the wallets carry the "Salomon Client Dusted" tag linked to a New York lawsuit involving Noah Doe.One of the transfers involved 40 BTC from a wallet dormant since May 28, 2012, with the funds moved on August 26 to German crypto custodian bank Boerse Stuttgart Digital. Calculated at a cost of approximately $5, the funds appreciated by roughly 1,535,911%.The remaining transfers included 212 BTC, 150 BTC, and 132.31 BTC, originating from wallets inactive since 2012, 2014, and 2011, respectively. The Noah Doe lawsuit seeks to declare 39,069 dormant bitcoin addresses in New York State as lost property. Additionally, several long-term holding addresses moved funds following the July Coldcard hardware wallet vulnerability incident. (Decrypt)
According to Onchain Lens monitoring, a wallet transferred 772,470 LINK tokens worth approximately $8.91 million to Galaxy Digital and Cumberland, possibly for sale. Of this, 602,000 LINK (approximately $6.94 million) was sent to Galaxy Digital, and 170,470 LINK (approximately $1.97 million) was sent to Cumberland.
According to Onchain Lens, Galaxy Digital's OTC wallet transferred 55,990 HYPE to Gate.io minutes ago, valued at approximately $4.15 million.
On-chain data indicates that three wallets associated with Multicoin currently hold a combined total of approximately 1.777 million HYPE, valued at around $102 million. Previously, some of the relevant HYPE were transferred to Coinbase Prime and Galaxy OTC, but it cannot currently be confirmed that the sale has been completed.
Odaily News, Galaxy Research Head Alex Thorn stated on the X platform that attacks exploiting the Coldcard hardware wallet vulnerability have noticeably declined, but cumulative losses continue to rise as more victims come forward. The impact of this incident on the Bitcoin community is significant, as the victims are primarily long-term BTC holders who adhered to self-custody cold storage principles, rather than those who lost assets due to high-risk trading or DeFi activities.At a scale of $112 million, this incident ranks among the top 20 largest hacks in crypto history and is one of the most severe security breaches in the hardware wallet self-custody sector to date. Bitcoin culture may be entering a new phase—the era of relying solely on ideological advocacy and extreme self-custody promotion is coming to an end. The community needs to place greater emphasis on technical security, lower the barrier to entry for users, and avoid simply shifting the burden of security responsibility onto ordinary users. This crisis may ultimately drive the Bitcoin ecosystem to establish a more mature security framework.Galaxy Research has directly contacted 190 victims and has confirmed with high confidence that the exploit has led to the theft of 1,778.84 BTC (approximately $112.7 million) from over 8,600 addresses. This tally does not yet include certain moderately credible suspicious attack records, such as the unconfirmed "Wave 4." If these potential attack scopes are incorporated, total losses could expand to 2,417.35 BTC (approximately $153 million).Meanwhile, the incident is reshaping market perceptions of self-custody security. Galaxy noted that multisig wallets have emerged as the "winners" of this event, with no stolen transactions traced to multisig wallets so far. Multisig service providers including Casa, Unchained, Nunchuk, and Anchorwatch have all observed a notable increase in user registrations and BTC inflows.