COLDCARD says an unauthorized phishing post on its verified X account urged Bitcoin users to migrate funds through an impersonation site. The cause and any impact remain unknown; the post is separate from a documented seed-generation flaw affecting some earlier firmware.
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Bitcoin’s oldest coins are stirring, but that doesn’t automatically mean OGs are cashing out. The onchain data points to a mix of security migrations, wallet cleanup, custody changes, and some selling — because Bitcoin can show movement, not motives.
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In 2026, crypto’s biggest losses came less from broken code and more from broken trust: compromised keys, signers, governance, and even hardware wallet firmware. TRM Labs says H1 hacks hit $972 million, exposing how easily “secure” systems still fail at the human layer.
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Coldcard has disclosed a seed-generation flaw that may have exposed some Bitcoin wallets to theft, but the widely repeated $112 million figure isn’t firmly verified. A firmware update helps going forward — it won’t rescue a weak seed already created.
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Coldcard firmware 5.6.1 hardens wallet security by requiring user entropy in standard new-seed generation and tightening several attack surfaces. It’s a solid step forward — but if an old seed was created under weaker conditions, a firmware update alone won’t save it.
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Coldcard has fixed the firmware bug that could generate weak Bitcoin seed phrases, but anyone who created a wallet on the affected versions still needs to migrate funds to a fresh seed. The patch helps future wallets; it does not save compromised ones.
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Coldcard’s firmware flaw didn’t break Bitcoin — it exposed weak seed generation in affected wallets, putting funds at risk when randomness was poor. Losses climbed toward $116 million, and the fix is migration, not just a firmware update.
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A Coldcard seed-generation flaw reportedly exposed about $116 million in Bitcoin across thousands of addresses, reminding everyone that self-custody is only as strong as the randomness behind it. The problem hit wallet firmware, not Bitcoin itself, and affected users need to regenerate seeds and move funds.
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AI-assisted red teaming flagged 4,962 potential issues across about 390 Bitcoin-related open-source projects, including 85 critical and 635 high-severity findings. The numbers aren’t all confirmed exploits, but they expose how much risk still lives in the software around Bitcoin.
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Hardware wallet sales are surging in Russia as new crypto rules move closer, with buyers seemingly racing to self-custody before regulated access gets tighter. The shift shows growing demand for control, but also a reminder: self-custody helps only if users handle it correctly.
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