Coldcard hack drains 1,367 BTC: predictable seed phrases expose $86M
The Coldcard vulnerability demonstrates how flawed random-number generation can compromise hardware wallets, a critical lesson for cryptographic security. Over 4,500 wallets lost $86M in Bitcoin as attackers reverse-engineered deterministic seed phrases. This ongoing breach forces a reevaluation of cold storage trust assumptions.
Source: The Business Times · Suvashree Ghosh