Tracking the Coldcard Hackers: Inside the $120M Bitcoin Theft with Alex Thorn

About this episode

Over $120 million in Bitcoin has been drained from Coldcard hardware wallets and the attack is still ongoing. Alex Thorn, Head of Firmwide Research at Galaxy, joins Spencer Nichols to break down exactly how the critical entropy bug in Coldcard's 2021 firmware was exploited, how he's tracing stolen funds on-chain, and what victims must do right now to have any chance of recovery. Thorn also explains why multisig and collaborative custody may be the only responsible path forward for Bitcoin self-custody. 🔶 Host: Spencer Nichols — Bitcoin Magazine 🔶 Alex Thorn — Head of Firmwide Research, Galaxy Chapters: 09:26 – Which Coldcard Devices Are Vulnerable 15:18 – Tracking the Attackers: Waves,…