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Cooling DownSnapshot Window: 2026-08-04 13:30 UTC · ← Back to Crypto Overview
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Verbatim Community Citations & Social Evidence 1 source posts analyzed
Today, let's chat with everyone about this Coldcard incident—another wallet has run into trouble. But I think what truly deserves our attention this time isn't how much money was lost, but how it strikes at the core belief of the entire crypto industry: Is self-custody really
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AI visual note: This infographic in Chinese titled "Coldcard事件全解析" (Coldcard Incident Full Analysis) explains how a firmware RNG (Random Number Generator) vulnerability, affecting only 40-72 bits out of 128-256 bits of entropy, led to an estimated $70M-$114M loss across thousands of addresses from a flaw buried since 2021. It outlines the timeline (2021 leak→2021-2025 silent seed generation→2025 exploitation) and emphasizes key takeaways like the need for short Coldcard wallets created after 2021 to migrate to new seeds, reinforcing the post's central question about whether self-custody is truly safe.