Don’t say “Bitcoin was hacked” because there was an issue with Coldcard. This incident was not a flaw in the Bitcoin network, but rather a problem with how CoinKite, a specific hardware wallet manufacturer, generated seeds in past firmware. Bitcoin private keys must be generated from sufficient entropy—truly random, unpredictable values beyond human guesswork. However, some older Coldcard firmware did not properly use the hardware random number generator and instead relied on predictable software pseudo-random number generators. In simple terms: it’s not that Bitcoin’s lock was broken, but that the lock manufacturer produced some keys using overly simplistic methods. The attacker did not break Bitcoin’s cryptography, did not attack miners, and did not alter transaction records on the blockchain. The only possibility is that the attacker computed candidate seeds generated weakly and compared the resulting addresses against publicly visible blockchain data. In this case, the Bitcoin network operated exactly as intended: It validated transactions signed with valid private keys and permanently recorded them globally without authorization. Bitcoin does not outsource responsibility. Telling you not to trust exchanges does not mean you should blindly trust hardware wallet companies. Don’t trust, verify. You must confirm whether the software is open-source, how seeds are generated, whether the firmware is verifiable, and whether you can input additional entropy yourself. And here is the most critical point from this incident: Even if you update to the latest firmware, existing seeds generated under vulnerable firmware remain insecure. If you generated your seed in an affected environment, you must create a new seed in the updated firmware and directly move your Bitcoin to a new address. Restoring the old seed to another wallet is not a solution—the problem lies not in the device, but in the seed itself. Bitcoin did not break. Rather, holding Bitcoin directly means taking full responsibility for verification and management—not just freedom. Not your keys, not your Bitcoins.