ME News reports that on August 5 (UTC+8), Chainalysis posted on X that the Coldcard hack was particularly damaging to Canadian Bitcoin holders. Our analysis of the attackers and victims found that Canadian BTC holders accounted for 25% of the attributable losses. According to estimates compiled by Galaxy Research, losses reached up to $110 million; we analyzed the geographic distribution of this ongoing hack. Significant losses were also observed among users in Australia, the United States, and Thailand. (Source: ChainCatcher)
Coldcard hack results in 25% attributable loss for Canadian BTC holders
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Summary
Chainalysis data indicates that Canadian BTC holders lost 25% of the total value in the Coldcard hack. Galaxy Research estimates the damage at up to $110 million, with significant losses also reported in Australia, the U.S., and Thailand. BTC prices remain under pressure as the incident underscores existing security risks. BTC dominance slightly declined in response to the market reaction.
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