Odaily Planet Daily reports: Alex Thorn, Head of Galaxy Research, stated on X that attacks targeting the Coldcard hardware wallet vulnerability have significantly decreased, but cumulative losses continue to rise as more victims come forward. The incident has had a major impact on the Bitcoin community, as the victims were primarily long-term BTC holders who adhere to the principle of self-custody and cold storage, rather than individuals who lost assets through high-risk trading or DeFi activities.
With a loss of $112 million, this incident ranks among the top 20 largest hacks in cryptocurrency history and is one of the most severe security breaches to date in the hardware wallet self-custody space. Bitcoin culture may be entering a new phase, as the previous approach of relying solely on ideological promotion and extreme self-custody advocacy is coming to an end. The community must place greater emphasis on technical security, lower barriers to entry for users, and avoid simplistically blaming ordinary users for security failures. This crisis may ultimately drive the Bitcoin ecosystem toward a more mature security framework.
Galaxy Research has directly contacted 190 victims and has high confidence that the vulnerability incident resulted in the theft of 1,778.84 BTC (approximately $112.7 million) from over 8,600 addresses. This figure does not yet include moderately credible suspicious attack records, such as the unconfirmed "Wave 4." If these potential attacks are included, the total loss could rise to 2,417.35 BTC (approximately $153 million).
Meanwhile, the incident is shifting market perceptions of self-custody security. Galaxy noted that multisignature wallets emerged as the "winners" of this event, with no stolen transactions traced to multisig wallets to date. Multisig providers including Casa, Unchained, Nunchuk, and Anchorwatch have all observed significant increases in user sign-ups and BTC inflows.