Coldcard Bitcoin Loss Estimate Surges to $70M After Galaxy Analysis
GLXY sits 25% above its 52-week low of $16.43.
Summary
Galaxy Research traced 1,082.65 BTC stolen in the Coldcard wallet exploit, valuing the loss at $70.2 million—nearly double the initial $38 million estimate. The analysis identified 1,196 addresses and a distinctive on-chain pattern of identical 30 sat/vB fees with no change outputs. While the incident directly impacts Coldcard users, Galaxy Digital's research arm is the source of the updated figure, tying the firm's brand to a major crypto security event. The news follows Galaxy's recent data center expansion and financing activities, adding a negative headline to the mix. Coinkite has released a hotfix but warns that seeds generated on vulnerable firmware remain at risk.
At the time of this announcement, GLXY was trading at $20.56 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $8.2B. The 52-week trading range was $16.43 to $45.92. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Cointelegraph.