New Evidence Ties Coinkite CTO to Unheeded RNG Warning Ahead of 1,800+ BTC Theft

Odaily Planet Daily reports that researchers have uncovered new evidence indicating the anonymous "switck" account behind portions of the LibNgU code may be Peter Gray, Coinkite's cofounder and CTO. The LibNgU code sits at the center of the COLDCARD entropy failure incident. According to the researchers, Gray's GPG key signed dozens of commits attributed to "switck," and additional identifiers are said to connect the two identities. Bitcoin developer James O'Beirne said he warned Coinkite in May 2025 that LibNgU's RNG implementation looked suspicious and recommended removing it. He added that the response suggested any problem should already have been detected. Screenshots also indicate users had questioned the LibNgU rewrite as early as April 2021. If confirmed, the findings would imply that the engineer who introduced the code was later linked to the theft of more than 1,800 BTC and had received direct warnings about the RNG implementation over a year before the vulnerability was publicly disclosed. (Bitcoin News)