Coldcard Wallet was attacked by hackers, leading to a significant increase in Bitcoin small-value transactions to the highest level since the FTX Rug Pull.

August 2nd. Recently, the Coldcard wallet has reportedly been the target of a hacking attack, causing a significant increase in small Bitcoin transfer activity. The volume has reached its highest level since the FTX rug pull, reigniting discussions in the market about Bitcoin self-custody security.

Julio Moreno, Research Director at CryptoQuant, revealed data showing that the number of Bitcoin transfers below 1 BTC in on-chain circulation has risen to the highest level since November 2022. Approximately 39,600 BTC were transferred in a single day, just about 300 BTC lower than the record set on November 16, 2022, a few days after the FTX bankruptcy filing (39,900 BTC). Users are proactively taking action to mitigate risks.

Previously reported, the Bitcoin hardware wallet Coldcard was attacked, with the stolen funds now totaling 1367.05 BTC, valued at around $88.6 million, involving 4585 addresses. Alex Thorn, Director of Research at Galaxy, stated that the attack is still ongoing. Users who have not yet moved their funds should immediately transfer their assets out of the addresses generated by Coldcard.