According to Julio Moreno (@jjcmoreno), Research Director at CryptoQuant, following a hack of the Coldcard hardware wallet, users massively transferred their Bitcoin for security reasons. On-chain data shows that Bitcoin’s daily active addresses surged from 645,000 on July 30 to nearly 1 million on July 31, reaching the highest daily level since December 10, 2024, with a significant increase in active sending addresses and a relatively smaller rise in receiving addresses. Meanwhile, daily exchange deposits of less than 10 BTC spiked to 7,300 BTC—the highest level since February 6 of this year.
Coldcard hack triggers Bitcoin transfers; daily active addresses reach eight-month high
TechFlowShare
Summary
Bitcoin news emerged as the Coldcard hardware wallet experienced a security breach, triggering mass Bitcoin transfers. Daily active addresses surged from 645,000 on July 30 to nearly 1 million on July 31—the highest level since December 10, 2024. Sending addresses rose sharply, while receiving addresses increased more gradually. Exchange deposits under 10 BTC reached 7,300 BTC, the highest since February 6. The incident underscores the risks associated with exchange hacking events.
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