Galaxy Research’s latest data shows that the Coldcard theft has cost $115 million worth of bitcoin.
Galaxy Research, Writing on X-Sunday said It had spoken to over 200 victims in order to provide support and collect intelligence about the assailants.
These figures were based on bitcoin’s price at the time the attack occurred.
Hackers started taking Bitcoin stored on Coinkite Coldcard’s hardware wallet by July 31.
Canadian company Coinkite said that a firmware bug in Coldcard Mk3 devices — starting with version 4.0.1 in March 2021 — caused seed generation to fall back to a weak software Pseudorandom Number Generator instead of the hardware true random number generator, allowing hackers to essentially guess investor seedphrases.
Coinkite, along with other Bitcoiners, have encouraged Coldcard users who have their money on Coldcard to move it immediately.
Galaxy Research said last week that they estimate at least 15 different attackers are exploiting this bug independently.
Galaxy Research found in previous studies that the typical coin was stolen 3.5 years ago and 88% were over a decade old.
It is not yet known how much money was stolen. However, the firm has stated that losses totaling more than $130 million could have occurred.
Since the attack, cautious investors have been moving their coins to other storage solutions — including exchanges.
Coinkite stated in a recent statement that the bug was in their software “silently went unnoticed” You can also find out more about the following: “its potential impact grew with every release” The company’s products.
The company warned investors that the second hack was coming and that they should update their wallet software.
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Source: bitcoinmagazine.com
