Coldcard Warns Users to Move Bitcoin Immediately as Wallet Exploit Drains $114 Million

Bitcoin’s hardware wallet ecosystem is facing a rare and dangerous moment. The maker of Coldcard has confirmed that an exploit still actively draining funds from specific devices has already led to roughly $114 million in losses, and the flaw remains unpatched as of Tuesday.

The company is telling users to move their bitcoin off vulnerable hardware immediately, according to the original report. The warning lands after weeks of escalating concern among Coldcard owners.

The exploit appears to target certain firmware versions and hardware configurations, bypassing the normal security checks that make hardware wallets a cornerstone of self-custody.

Unlike phishing attacks or seed phrase leaks, this is a direct compromise of the device layer, making the default advice—keep your private keys offline—less reliable.