Coldcard Theft Losses Top $116M This Week; Bitcoin Hovers Near $64,000

According to Bitcoin.com News, Coldcard hardware wallet theft losses topped $116 million this week, with a fourth wave moving 388.9 BTC on Sunday evening. Developer James O'Beirne's tripwire wallet containing no added entropy was swept by attackers within an hour, confirming continuous scanning of vulnerable seed space. The device vulnerability, stemming from a March 2021 firmware bug, generated recovery seeds with roughly 40 bits of entropy instead of 128.

Bitcoin held near $64,000 despite the ongoing Coldcard crisis. Capriole Investments founder Charles Edwards highlighted bitcoin's production cost at $54,000, with the metric's electrical component at $40,000, establishing a potential floor for the current cycle.