Losses from the Coldcard hardware wallet exploit have now soared to 2,055 BTC, valued at approximately $130 million. Citing data updates from Galaxy Research and monitoring by the @lookonchain account on X, more than 7,700 user addresses have been recorded as victims. This figure is a sharp revision from the fourth-wave findings, which previously detected the theft of 448.7 BTC from 709 addresses. Tracking the first four waves of attacks, the combined total was once projected at 1,815.75 BTC across 5,294 wallet addresses before WatcherGuru confirmed that losses from this hack had surpassed one hundred million dollars.
Amid the growing number of victims, a peculiar fact was recorded on-chain: the hacker left 90% of the vulnerable coins untouched. Instead of sweeping the balances in thousands of addresses whose keys had been compromised, the perpetrator only breached a portion of the targets. Prompt users actually still have an opportunity to save their coins. Several asset transfers in the fourth wave were proven to use the Replace-by-Fee (RBF) feature. This means that victims who quickly spot an unrecognized outgoing transaction that has not yet received network confirmation can frontrun it by resending the transaction with a higher miner fee.
Why Device Updates Alone Are Not Enough
Coinkite, the maker of this physical wallet, has already distributed a firmware fix. Unfortunately, downloading this patch is often misunderstood as a complete cure. Installing new firmware does not secure seed phrases that were already created using the flawed version. Users must generate a new seed from the updated device and immediately move their coins. The panic effect of this evacuation was captured by CryptoQuant charts: the volume of movement in small wallets under 1 BTC jumped past 39,600 BTC on Friday - the highest level of activity since the FTX exchange collapsed in November 2022.
Bitcoin Withstands Pressure from Three Sides
Outside of the hacking drama, Bitcoin is testing its defenses against selling pressure from other directions. Analyst Martinez revealed that miners dumped around 1,774 BTC worth $112 million over the past week. Additional burden was contributed by the company Strategy, which reported releasing 1,638 BTC as its third sale for 2026. This corporate action immediately prompted CEO Michael Saylor to comment that his company is a public entity and not his personal wallet. Interestingly, despite being bombarded by supply, the price of Bitcoin was still able to hold in the $63,600 to $64,117 range.
From the chart readings, this price cushion is not yet supported by trend reversal signals. Bitcoin’s Stochastic RSI indicator is crawling in the lower area near the 22/14 level, and the MACD line continues to cling below the signal line. The $60,000 mark is the decisive short-term support line; losing this boundary could drag market sentiment down again to test $56,000. This string of multi-million dollar exploits slaps us with a technical reality: no matter how deeply you lock a physical vault, its contents will still vanish if the key pattern was easily guessable from the moment it was created.
Reported by @lookonchain on X.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
