$1.6 Million Bitcoin Wallet Hack: The Perils of Self-Custody
$1.6 Million Bitcoin Wallet Hack: The Perils of Self-Custody
A Canadian entrepreneur experienced a dramatic loss of over $1.6 million in Bitcoin (BTC) from a Coldcard hardware wallet in less than seven minutes. This incident, potentially part of a larger wave totaling 1,367.05 BTC, underscores the inherent risks and uncomfortable truths of self-custody, suggesting that even diligent security measures might not always suffice against sophisticated attacks.
A Canadian entrepreneur lost more than $1.6 million in Bitcoin (BTC) from a Coldcard hardware wallet in under seven minutes, part of a wave that may total 1,367.05 BTC. The case exposes an uncomfortable truth about self-custody: doing everything right may not be enough. How One Holder Lost 18 BTC in Seven Minutes Cold storage
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