🚨 Coinsbuy Loses $8M+ in Coordinated Attack • Crypto exchange Coinsbuy lost over $8.07M from wallets across TRON and Ethereum. • The attacker moved most funds through cross chain swaps and FixedFloat. • Coinsbuy later refilled the wallets, while the exact attack method remains unknown. ⚠️

Security in our #Bitcoin wallets and the rest of the ecosystem doesn’t always fail due to exploits... sometimes it fails due to insufficient randomness 🧠 In the case of Coldcard, the seeds weren’t stolen—they were guessed due to weak entropy. We break down the technical details and implications of this incident with our guest @anibalcripto (Director of @academiabtcucab, CEO of @btctechno, and Co-Founder of @btctechnomag) 🎙️Host: @franklinroldan

Adding a passphrase to your wallet increases your security by thousands of times. Here’s a compelling real-world example: Experienced user @ColeTU used a Coldcard Mk3 wallet and, starting from the original seed, created four additional wallets—each with a unique passphrase. He then distributed funds equally across all five wallets to observe what would happen to his assets. To do this, he generated four additional derivations from his original seed using passphrases and sent funds to each: - Wallet 1: Seed phrase only - Wallet 2: Seed phrase + 1-word passphrase - Wallet 3: Seed phrase + 2-word passphrase - Wallet 4: Seed phrase + 3-word passphrase - Wallet 5: Seed phrase + random-number passphrase His goal was to test whether the funds remained secure—and how long it would take for them to be compromised and stolen. The results came quickly. Within minutes, the original wallet (seed only) was wiped clean—its entire balance stolen in an instant. Days passed, nearing a full week, and the remaining four wallets—each with varying passphrase complexity—remained completely untouched. Even the least secure one—the wallet with the simplest, single-word passphrase—still held its funds, completely unharmed. This demonstrates the immense protection a passphrase provides to your seed—even with a simple, single-word key. A week has passed, and one of the most critical benefits of this mechanism is TIME. Passphrases give you the most valuable asset in the world: TIME. Time to take action and secure your assets. Time to move your funds to a new wallet. Time between losing everything—and saving it all. If this user had been attacked at the moment his Coldcard was compromised, he would have lost only the “bait” funds in the primary wallet (seed only)—but he would have had ample time to safeguard the rest of his assets. This case, along with thousands of others, proves that passphrases add such a powerful layer of security that hackers abandon attempts to crack them—and instead redirect their efforts toward simpler, unprotected wallets. Protect your assets. Protect your security. GM DragonCrip

I am incredibly grateful to have worked with the @unchained team on rescue mission @MARA Slipstream over the past week. So far, ~9000 Bitcoin have moved out of Cold Card multisigs ($500M+) using our private mempool service — with the majority coming through Unchained’s wallet integration tool. More details on this story + thoughts on the future of Bitcoin security with @dhruvbansal on this special episode of MFTV.

@COLDCARDwallet hardware wallet exploit losses confirmed above $130M, 250+ victims. @glxyresearch confirmed with high confidence that 1,719 $BTC, or about $111M, has been stolen via the Coldcard vulnerability. Total losses are projected to exceed $130M across more than 25 attack patterns, and could reach 2,300 BTC if pending cases are verified. This is the largest crypto hack of July. This matters because: the scale of the losses may pressure sentiment around hardware-wallet security, even if most victims appear to be retail holders.

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A Miami resident is suspected of stealing $14 million from thousands of victims in a check fraud scheme, authorities reported— an investigation has been launched. #bitcoin #cryptocurrency #fraud