More than 1,700 bitcoins have been drained from Coldcard wallets belonging to people who did everything right when it comes to self-custody. Alex Thorn, Head of Firmwide Research at Galaxy Digital, has been tracing those coins on-chain since the second day of the attack, working directly with victims. He joins me with the fullest accounting of the hack that exists anywhere: how much was actually taken, where that Bitcoin is sitting right now, and what the people who took it have and haven't done with it since. ...
More than 1,700 bitcoins have been drained from Coldcard wallets belonging to people who did everything right when it comes to self-custody.
Alex Thorn, Head of Firmwide Research at Galaxy Digital, has been tracing those coins on-chain since the second day of the attack, working directly with victims. He joins me with the fullest accounting of the hack that exists anywhere: how much was actually taken, where that Bitcoin is sitting right now, and what the people who took it have and haven't done with it since.
In this episode:
• Where the stolen Bitcoin is sitting right now and how many waves of attacks there have been
• What Alex expects the hackers who took it to do next
• How could this seed generation flaw stay hidden for five years?
• The volunteer "Red Team" effort that formed overnight, and what it's turned up so far
• The one thing every victim should do today, whether or not they ever see their coins again
• His read on the failed BIP 110 fork, and what he'd say to the people who backed it
Follow Alex Thorn on X https://x.com/intangiblecoins - his DMs are open to help victims
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Disclaimer: The News Block and Coin Stories are for educational and entertainment purposes only and do not constitute financial, investment, legal, or tax advice. Nothing discussed in this episode is a recommendation to buy, sell, or hold Bitcoin or any other asset. Natalie Brunell is not a financial advisor. Some content may include sponsorships or paid partnerships, which are disclosed. Always do your own research and consult a licensed professional before making financial decisions. Bitcoin and digital assets are volatile — never invest more than you can afford to lose.
