Coldcard Exploiter Moves 45% of Stolen Bitcoin, Galaxy Reports

Coldcard exploiter — The attacker behind the ‘Wave 3’ Coldcard exploits has moved nearly half of the stolen Bitcoin, according to a new analysis from Galaxy Digital.

Galaxy’s research, current as of mid-August, indicates the exploiter transferred 45% of the funds stolen in this specific attack series. The firm had previously identified approximately 1,779 BTC stolen from 190 victims across more than 8,600 addresses linked to the Wave 3 attacks.

The Coldcard exploit refers to a series of attacks targeting users of the popular hardware wallet. The movement of such a large portion of the stolen funds is a notable on-chain event that market monitors and security firms often track to gauge an attacker’s activity.

While the report confirms the movement of funds, it does not specify the destination addresses or the current disposition of the stolen Bitcoin. Such large-scale transfers can sometimes precede attempts to liquidate assets through exchanges or mixing services.