Coldcard, the popular bitcoin hardware wallet manufacturer, has issued an urgent warning to its customers, advising them to move their funds after confirming that an active exploit responsible for roughly $114 million in losses remains ongoing.
An Ongoing Threat
The company disclosed that the vulnerability driving the losses has not been contained and continues to put user funds at risk. According to Coldcard, certain wallet models and firmware versions remain exposed to the flaw, leaving affected holders vulnerable while the situation unfolds.
Rather than waiting for a comprehensive patch, the manufacturer took the unusual step of telling users to relocate their bitcoin as a precaution. The advisory underscores the severity of the situation, as hardware wallets are typically marketed as one of the most secure ways to store cryptocurrency offline.
The company is telling holders to move their bitcoin now, before the live exploit reaches them.
What Users Should Know
Coldcard specified that the danger is limited to particular device models and firmware builds rather than its entire product lineup. Users are being urged to verify whether their setup falls into the exposed category and to act quickly if it does.
The reported $114 million in losses highlights the scale of the incident and the appeal that cold storage wallets present to attackers, given the large sums they often protect. Hardware wallets are designed to keep private keys isolated from internet-connected devices, making any active exploit particularly alarming for the broader crypto community.
Holders concerned about their exposure should consider the following steps:
- Confirm the model and firmware version of their device
- Move funds to a secure, unaffected wallet if at risk
- Monitor official Coldcard channels for further guidance
As the exploit remains live, the company's message is clear: swift action may be the best defense until a full resolution is in place.