According to Huoxing Finance, 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. Based on estimates compiled by Galaxy Research, losses reached up to $110 million, and we analyzed the geographic distribution of this ongoing hack. Significant losses were also observed among users in Australia, the United States, and Thailand.
Coldcard hack causes regional loss disparities; Canadian BTC holders bear 25% attributable loss
MarsBitShare
Summary
Chainalysis data shows that Canadian BTC holders were hit hardest by the Coldcard hack, accounting for 25% of the losses—up to $110 million, according to Galaxy Research. BTC prices remained stable despite the incident. Other major victims included users in Australia, the U.S., and Thailand. BTC’s market dominance showed no immediate change following the breach.
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