damn.. this guy lost $1.6M worth Bitcoin from his wallet even though his wallet never touched the internet..
his Coldcard was sitting inside a safety deposit box. the seed was never shared. no phishing link, no leaked screenshot, no random dapp approval..
and it still got drained.
he says, the weakness was inside the code that originally generated the seed phrase.
basically,
a seed phrase is supposed to be completely random. but if the device creates it from a smaller, more predictable set, attackers don’t need your wallet or physical access.
they can keep guessing possible seeds somewhere else until one opens a real wallet.
so the cold wallet wasn’t necessarily “hacked” later.
the key may have been weak from the moment it was created.
that’s so scary asf.. if u think about it..
keeping a wallet offline protects a strong key from leaking. it does nothing if the key itself was predictable from day one.
but i have a solution for you,
if you are someone with serious money, one seed and one device is still one point of failure..
the safer setup is:
- 2-of-3 multisig
- each seed generated independently
- different hardware-wallet vendors where possible
- extra verified dice entropy
- watch-only alerts for every outgoing transaction
with proper 2-of-3 multisig, one compromised seed still cannot move the funds..
also don’t make fake multisig by generating every key on the same device or importing the same seed into multiple wallets.
and never enter your seed into some website claiming it can check whether you’re affected..
so yeah, the lesson here isn’t “cold storage doesn’t work.”
it’s that $1.6M was protected by one key, and one weak key was enough to lose everything..
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20.0K @itscoachgoodman $1.6 million dollars in Bitcoin was drained from my account on July 29th in the Cold Card wallet hack.
My Bitcoin was in cold storage. My keys were on a ColdCard device kept in a safety deposit box that had never been connected to the internet.
This part's nerdy, but here's what happened:
Hackers discovered a vulnerability in the part of the hardware wallet code used to create seed phrases.
This allowed them to use AI to brute force guessing seed phrases.
I was at our cottage and heard about the hack today.
"No way this affects me." I thought.
I logged into Wasabi––software that lets me view my bitcoin wallets online.
Right away I saw lines of red transaction–withdrawals–and I knew.
From 9:36pm - 9:43pm on July 29th, every wallet I had had been emptied.
18.25245043 btc gone. That's just over $1.6 million dollars CAD.
Perhaps the hardest part about this is that I did everything right.
I never shared my seed phrase with anybody. My devices never touched the internet. Everything was kept in multiple
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If high-cost miners are in the red, they withdraw, causing difficulty to decrease, and when difficulty drops they return. Thus miners are generally kept in profit.
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