13h ago

Bitcoin falls 1.3% to $62,591 amid Coldcard wallet hack concerns

AI Market Summary

Bitcoin weakened on reports of a serious vulnerability potentially affecting Coldcard wallets, with researchers suggesting losses could reach ~$70m in under an hour. Coinkite's call for users to move funds raises near-term concerns around self-custody security and operational risk across crypto infrastructure. Concurrent spot bitcoin ETF outflows add incremental selling pressure and reinforce risk-off positioning.

Impact level

● High

Affected assets

BTC/USDT+0.30%

AI Insight · BTC/USDTAI Insight

▼ Bearish

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Bitcoin fell 1.3% to $62,591 after a serious security flaw was reported in Coldcard hardware wallets that researchers said could have allowed roughly $70 million to be stolen in under an hour. Hardware wallet maker Coinkite issued an urgent recommendation for users to move funds. Bitcoin spot ETFs also saw net outflows on Friday, adding to selling pressure. The incident hit confidence in the security of self-custody and is a typical off-chain infrastructure security event.

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