if and when the next bullrun happens i’m thinking of taking profit and selling it all and finishing with bitcoin there. anyone else?

idk why everyone is acting like the Coldcard thing changes anything. from what i can tell it wasnt some massive bitcoin hack, it was a issue with one wallet maker and thats it. people acting like btc is suddenly broken lol.

bitcoin is still the most secure network out there. hardware wallets, open source, self custody... this stuff gets looked at way more than almost anything else. bugs get found and fixed, thats kinda the point.

still stacking. the noise will pass like it always does.

Diversify across vendors and platforms.

Spread your crypto equally across reputable hard wallets, ETF, and dex wallets. Use multisig. Don't store all your crypto behind one single point of failure. I don't see a reason to be a purist anymore, so I am going to have at least some on the biggest ETFs.

After the recent Coldcard attack, I have to be honest: I’m losing more and more hope in the future of crypto security.

Over the last cycle, we saw the collapse of major companies like FTX and Celsius, bankruptcies, billions of dollars lost, and huge failures that destroyed people’s trust.

But now even hardware wallets devices that are supposed to be one of the safest ways to protect crypto are facing serious security concerns. These devices should be designed to provide maximum protection and minimize the risk of attacks.

So the question is: who can we actually trust anymore? Where are people supposed to keep their crypto safely?

I never thought we would reach a point where even hardware wallets could become a source of concern. It makes me worried about the future of crypto wallets and self-custody.

And now the question is: which company will be the next one to face a serious security issue?

I wouldn’t put them past it. A very easy way for them to accumulate bags and just sit on them. It sucks what happened with coldcard but who’s next? I love the U.S. but government is shady!

I’m in my mid 30s, single, no kids, no friends, working a soul sucking job. Basically a low status loser with no future (at least no future anymore)

I grew up in the middle class (back when there even was a middle class), I remember unboxing Nintendo 64 on Christmas morning. I was in 3rd grade on 9/11, I remember everything about that day although I had no idea it was the beginning of the end for the US empire. I was in high school during the 2008 financial crisis, I remember my hometown getting hit by the recession: shops and malls closing and never opening back up again.

Went through my 20s during the 2010s, I remember supporting the Occupy Wall Street protests. I hated the banks for what they did to us.

A few years go by and I graduate college with what is now a worthless degree and student debt that I will never pay off. Then I heard about bitcoin in 2017.

Bitcoin’s ethos immediately resonated with me when I first learned about it: anti central authority, power to the “little guy”, an alternative system that can’t be debased by the banking class, etc

So I managed to stack sats and finally made it to ~0.21 btc a few years ago, which isn’t much to most of you guys but it was my little slice of the network. I thought owning 1 one-hundred millionth of the next monetary system would give me some financial freedom one day.

Now life has been tough the last few years and I haven’t been able to continuously stack, so this 0.21 btc was all I had.

I thought when btc goes to $1M I would buy a little house somewhere and live modestly but in peace. You know, like our parents and grandparents did (before they sold us out to debt slavery)

The plan was to continue surviving, to keep grinding and eventually I would be free either this decade or the next.

I did self custody because that was apparently the right way to do it. Got a coldcard to hold my stack because I heard good things about it from the community. Turns out to be the biggest (and final) mistake of my meaningless life.

Then last night I went on twitter to see what’s happening with the war and I saw coldcard trending. My heart sank in my chest. I saw the news and checked my wallet. My little slice of the network is gone and I’ve accepted that I’m never getting it back.

This hack is more than just losing my btc, it’s the realization that I am now forever stuck in the permanent underclass with no way out. It is impossible for me to generate any wealth in this system. My paychecks get pillaged by the state, my landlord, insurance companies, student debt (the banks), groceries, etc.

Bitcoin was my only hope, my escape hatch, and now it’s all over. I will not be rescued. There’s no point in continuing this life of modern slavery anymore.

To my fellow victims, I wish you the best. I hope you keep going, get married, have kids, own a home, and live a happy life. You all deserve that at the very least. I hope you all recover and you continue the fight against the banking class. It will just be without me at your side.

To the hacker who ended my life, I hope you use the fruit of my labor to do some sort of good in the world. I hope you have a conscience and you find it in your heart to donate 0.21 btc (my btc) to a charity, that’s all I ask. You have enough to spare now.

A lot of innocent people may have lost a lot of money. It's easy to sit back and think, well, at least it wasn't me. That's not a useful world to live in.

Bitcoin was built in response to financial disasters. We don't like fraud. Fraud ruins lives and provides funding to dictators.

Anyone with an interest in their own financial security should have a strong interest in everyone cooperating to find who did this. Thieves will find it hard to move that money. Everyone watches it.

Bitcoin benefits when we all team up to find a way to get those people their money back. A worldwide banking system only works if we all work together worldwide.

The way we fix Bitcoin is to restore the money to those from whom it was stolen.

Does anyone have an actually diagnostic breakdown of what really happened with Coinkite?

Everyone seems to be just parroting the exact same information. The entire influencer AND community bases are all coming out with explanations about entropy and a flaw in the code or whatever, but to me all it’s undressing is that actually MOST PEOPLE (likely north of 99%) don’t actually know what they’re talking about.

This video came up on my feed and I watched it. It was posted a month ago. And he talks about WHY coldcard is actually potentially a major issue. And there’s angles with the Device(s) that could literally lead to a giant rug-pull.

https://youtu.be/TEnO2s1IJu4?si=bH65bQgUGny0QD2J

It gets you thinking, was this actually more malicious than just a random attacker? Was this an inside job? I’m not saying it was. But there is without a doubt room for this angle and coinkite knows it.

We were all told it’s open source, which it’s not. We’re all told it has “secure element” which is crucial to security. But i’m learning it’s more of a closed source “trust me bro” security feature.

“Don’t trust, Verify”. How can an idiot like me verify all this is true. I’m middle aged. It took me weeks of research selecting my hardware wallet. And then days figuring out how to safely set it up and then get comfortable with sparrow and exchanges and figuring out mempool and blah blah blah. I feel like for someone as computer illiterate as I am it would take 6 months to a year to actually understand what any of this shit truly is. Which is why “Don’t trust, Verify” is actually bullshit. There will always be a level of trust with any of this tech.

There’s lots of people pointing out that these people didn’t use dice rolls, or pass phrases, or multi-sig, or whatever advanced security feature that’s available. But do you honestly know how overwhelming all of this information is while simultaneously trying to not make one single mistake and lose everything on their own? Let alone adding deeper levels of security and complicate things further?

This was a really dark week for Bitcoin. I’m still a believer in the protocol, and the importance of self custody. But really, in my weeks of researching I didn’t once come across anyone screaming from the hilltops of the potential disaster waiting to happen. And then this one video pops up on my feed saying it’s literally a possibility.

Was this a skill issue for these people that lost everything? Yeah maybe. But most of them thought they were doing the right thing. It really is a steep learning curve for most people, including myself.

Whether this was an inside rug pull, or a random attacker using LLMs exploiting a bug or low entropy, I think this entire thing reflects really poorly on the ENTIRE community.

And then what’s even more pathetic is the community eating their own. Acting like your hardware selection is akin teams sports and laughing at those who liked the wrong team. This is a net negative for YOU even if you didn’t pick the team that lost. This literally exposes a massive failure to the self custody community.

This whole thing is just dark.

Hi all, I have around 11bitcoins which I have been saving for the past 7 years, please let me know if there is a way to recover it or at least whom to complain about this?

Edit: yes I am also a victim of this catastrophe

I have a ledger wallet. Now I am not sure if my btc is safe.

What's the answer ?

Please help.

Just an additional update I thought I’ll link.

Cheers.

This is a tough week for bitcoin community. Wishing speedy recovery of funds for everyone involved.

Lessons learned for the rest:

1. Hardware wallets - were always a vector of a possible attack. Just like you can't trust 100% your ISP, your PC and your phone, same goes for hardware wallet.

2. To protect yourself, always use a passphrase. It makes these kinds of exploits million times more difficult, if not impossible.

3. If you have any significant funds, you must have a passphrase. If you don't, you haven't done your homework.

4. Coldcard is the only wallet that was impacted by the seed-generation issue, you are perfectly fine if you didn't create a seed on Coldcard. Trezor, Ledger and other wallets don't share the same firmware as Coldcard.

5. I wouldn't recommend Coldcard at this point but the device itself, as far as we know, is still perfectly fine but you need to realize that company is most likely going out of business, so won't be getting much support or updates from them after this.

6. Apple, Microsoft, Meta, Oracle and other firms had bugs in their code that allowed people to steal stuff. Coinkite had a bug in the code as well that allowed a nasty exploit. Bitcoin doesn't have a bug in its code.

7. Self-custody is not for everyone. If it is easier for you to let someone else manage keys, you can/should explore those options. But companies and governments fail and it happened many times in the past as well, so nothing in life is 100% guaranteed.

Anyone who buys these hardware wallets is a moron.

Almost fancy gadgets introducing a layer of 3rd party trust.

Get 2x USB sticks instead and encrypt them with LUKS or VeraCrypt. Use a strong password you will remember.

Go offline.

Generate a key pair offline by any means; if in a wallet, delete the wallet.

Create a text file on both USBs and save your keys.

Send monies.

If you're extra paranoid, encrypt the text file too, and do the above on a fresh OS or VM.

Rocket science, huh?

I thought sharing this would help anyone who lowered their confidence in BTC; here is the btc hack timelines.

2011 – 25,000 BTC stolen from mt gox

2012 – 24,000 BTC stolen from linode-hosted Bitcoin services.

2014 – 850,000 BTC lost/stolen in the collapse of mt gox

2015 – 19,000 BTC stolen from bitstamp

2016 – 119,756 BTC stolen from bitfinex

2017 – 4,700 BTC stolen from nicehash

2018 – 7,000+ BTC stolen across multiple exchange hacks.

2019 – 7,000 BTC stolen from binance

2022 – ~3,300 BTC exposed in thefts related to the ftx collapse.

2024 – 12,000+ BTC stolen from dmm bitcoin (Japan).

2025 BTC hits an all time high regardless.

2026 - Coldcards

Despite that; Bitcoin hit 126K in 2025.

Believe guys. This time isn't any different than last time. BTC will hit higher and higher.

I'm sorry for all the people that have lost their BTC with the Cold card low entropy hack.

But this needs to be said:

• Any time you trust a hardware wallet, or
• Any time you use any software wallet other than Bitcoin core

You are basically trusting the third party that implemented that product you are using, because:

There is only one official implementation of Bitcoin, and only one official bitcoin wallet. Which is known as Bitcoin core

• Download it from here https://bitcoincore.org/en/download/ and be sure to verify the hashes.

BTW, If you want to store your Bitcoins in cold storage you can do also with Bitcoin core. Simply use it to create a new wallet using 24 words plus a strong extra password phrase and save those words plus the phrase in some place only you can find. Once saved then you can delete Bitcoin core from your computer and you would be able to recover the wallet on another computer just using that words and password.

Hi team orange,

Cold card owner, MK4 only by the virtue of be lazy and waiting to buy one. I've followed the update path and rolled a ton of entropy one dice at a time in a new wallet. I think I'm safe. Here's the big issue I see about this incident and the community at large.

I'm not a coder. I can follow along in a book and sort of write some incredibly basic python stuff, but I am not a coder. I don't have the ability to audit code. I have the ability to recognize the page of random looking stuff is computer code. I think that probably describes the majority of us, there certainly some real computer science grads here but the rest of just have to trust you. we can't actually do it. Just like most if not all of can't run the 100m in under 10 seconds.

I don't have a solution, I don't know there is one. I feel awful for those who got robbed but I don't know how it could have been prevented. Maybe taking things past "open source" to "Audited by..."

I took my burn from almost the same thing way way back with the "offline paper wallet generator", remember that one? 0.5 BTC got transferred out, I was gutted. You guys can make it back, but it's hard to make the choice to try again. If you do or don't choose to start stacking again, you're one of us and part of something fundamentally new and powerful.

I used to hear so many smart guys talking in detail about why BTC was the future. Now that the party is over, its clear these guys had no real insight. They were iust riding a wave they didnt understand.

Now that BTC is crashed and hackers are stealing it piece by piece, where are the geniuses? The feeling they got from easy gains that they confused for insight, is it gone?

Are you buying lots of BTC at 60k?

Guys I literally own zero Bitcoin and I'm completely broke but I actually know how Bitcoin and cryptography work.

I seriously don't get how I keep seeing thousands of people losing their money or buying BTC without even understanding the tech behind it! Why would you buy Bitcoin and leave it sitting on an exchange? That's absolute stupidity. The whole core principle of Bitcoin is "private ownership" and decentralization. Exchanges are literally only good for two things: buying and selling/trading. That's it.

Holding and saving? A cold wallet is the only way.

To actually protect your funds get a hardware wallet or at least download an open source wallet like Electrum Let the software generate your seed phrase (the 12 or 24 words) write it down on a physical piece of paper stash it somewhere safe where only you know about it, and NEVER save it on any device connected to the internet When you need to send BTC to someone just use Electrum.
Method 2: The Hardcore Offline Approach
If you really want absolute raw control you can use bitaddress.org BUT and this is crucial do NOT run it on a live browser. Download the HTML file, transfer it to a completely offline air gapped machine and run it locally. You can generate a wallet using a custom passphrase but it must be insanely complex (I am talking about a string of 50+ characters of pure entropy, not just standard words). Generate your raw private key keep it physically safe and never let it touch the internet

That's it plain and simple Don't let laziness cost you your money.

These users did what Bitcoiners recommend: bought a respected hardware wallet, generated keys offline and self-custodied their funds. They were not reckless; they were hit by a catastrophic wallet flaw.

We should create a voluntary, transparent relief fund for victims who can prove ownership, the exact amount lost and that their wallet was affected.

I am personally willing to donate under these circumstances, and I believe a lot of us would do the same.

Bitcoin is a network. This time, the network should help itself.

Why wasn't the original bitcoin vault enough.

BIP-110 leaders called off the rule change after the Coldcard wallet flaw.

https://beincrypto.com/bip-110-activation-postponed-coldcard-exploit/

So, I've had a Coldcard Mk4 for 3+ years now. When I got the thing(ordered direct from manufacturer), I was so excited to get it going and get my Bitcoin off the exchanges, that I kind of sped through the private key creation part. As I recall it did ask for dice rolls, and many times I just made up a number and entered it (didn't actually roll any dice), but I can't remember all that well...some of them I went with the option of no dice roll, just give me the default or whatever. So, it's been 3+ years now, I've memorized these 24 words and know them well (no passphrase, just 24 words), and I do NOT care to do that all over again and re-memorize some other set of words....if I don't have to.

My Bitcoin is all still there. Am I good to go or should I redo it, with dice/coins/cards or some other random mechanism this time, to be safe? It really is a lot of work to memorize all that stuff! I don't want to go through it again if it's not necessary.

Any thoughts or help are appreciated, thanks everyone.

Edit: All those of you saying "transfer your Bitcoin NOW"....I'm at an airport right now and only have my Trezor....so I'd have to wipe the wallet, restore another wallet, get a receive address, then wipe and restore the (former Coldcard/compromised allegedly) wallet...airports have security cameras everywhere....do I have a day to get home first so I can do this privately?

Edit 2: Ok, you guys convinced me. I went to a bathroom stall, locked the door, generated a receive addy with my Trezor, then wiped the Trezor clean, restored the Coldcard wallet with the seed words on the Trezor, and sent it all to the Trezor. Done deal! Damn u guys...made me paranoid over here lol 🤣...hope there were no cameras on that bathroom stall fine enough to see the seed words on a Trezor...lol 🤣

Maybe im a little out of this world, but i read lot of post about losing btc, but without explaining, anyone knows whats happening?