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Stacks founder Muneeb Ali proposes Bitcoin fund to buy Coldcard hack victims’ claims

AI Market Summary
Stacks founder Muneeb Ali proposed a Bitcoin fund to buy claims from Coldcard hack victims after Galaxy Research estimated at least 1,596 BTC was stolen from ~7,300 addresses, potentially up to 2,000 BTC. The incident highlights hardware wallet seed-generation and supply-chain risks rather than exchange or protocol flaws. Near-term market impact is mainly sentiment-driven, with heightened scrutiny of self-custody security and potential legal/compensation uncertainty.
Impact level
● Medium
Affected assets
BTC/USDT+1.18%
AI Insight · BTC/USDTAI Insight
● Neutral
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Stacks founder Muneeb Ali proposed setting up a Bitcoin fund to buy claims from victims of the Coldcard hardware wallet hack, aiming to give affected users immediate access to their lost BTC. The incident stems from a vulnerability in Coinkite’s Coldcard devices, with three confirmed major waves and 14 smaller incidents. Galaxy Research estimates at least 1,596 BTC—worth more than $100 million—was stolen from roughly 7,300 addresses, and said the total could reach about 2,000 BTC, or roughly $130 million, if suspected cases are included.
BTC
BTC+1.16%
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