Coldcard Losses Pass $115 Million, Galaxy Research Data Shows

Galaxy Research mentioned that Coldcard losses have exceeded $115 million, masking 1,778.58 Bitcoin (BTC) swept from 8,680 addresses since July 30, in line with Galaxy knowledge by August 13.

One new chart from the agency ranks the ten largest sweep teams by transaction habits. However, a lot of the drained addresses nonetheless don’t have any named proprietor.

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Coldcard losses have exceeded $115M (based mostly on the worth when cash have been stolen)

Galaxy Research has spoken with 200+ victims to assist them and collect intelligence on the attackers

This thread incorporates extra charts and data 👇 pic.twitter.com/H2K141mugF

— Galaxy Research (@glxyresearch) August 16, 2026

Every Stolen Coin Postdates the 2021 Firmware Release

The flawed firmware was shipped on March 17, 2021, at block 674,951. Galaxy discovered no stolen coin created before that point.

Zero of 6,303 cash taken within the waves predate the discharge. The identical holds for 3,598 dated addresses reported by victims. The earliest sits at March 22, 2021.

That boundary is the flaw’s personal signature. Keys made on affected units solely exist after the discharge, so their cash do too.

Holding intervals present the attain. Drained addresses had sat untouched for a median of 1,292 days, about 3.5 years. Meanwhile, Galaxy had warned of contemporary attacks on August 3.

Wave 1 Took 61% in beneath an Hour

The newest tally pushes the {hardware} pockets loss above earlier counts. The opening sweep did the heaviest injury. 

Galaxy attributes $70.2 million, or 61% of the overall, to Wave 1 alone. The tempo even drew a warning from Binance Founder CZ.

The sweeps ran throughout 9 blocks in 41 minutes. That operator paid a set charge of round 30 sat per vByte and drained one tackle per transaction.

It reached 1,195 addresses and despatched the proceeds to 4 collector wallets. In distinction, Footprint E touched extra addresses at 2,147, batching as much as 795 right into a single transaction.

Most of Wave 1’s haul has not moved. Of 1,082.65 BTC taken, 1,082.57 nonetheless sits in place. Footprint E moved practically all of its 209.94 BTC, leaving 4.38.

Wave 3’s take rests in a different way. Attackers received it in ordinary wallets, however 207.73 BTC now sits in script-hash vaults.

Reporting nonetheless lags the chain knowledge. Just 192 folks have reported losses throughout the revealed whole, totaling 714.81 BTC, or 40.2% of the Bitcoin taken. 

Individual studies run as high as 58.97 BTC, with a median close to 1.03. The remaining 6,890 addresses, holding 1,063.76 BTC, don’t have any proprietor connected.

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