'Funds may be at risk': Coinkite issues warning for Coldcard Mk3 users amid 594 BTC theft reports

Coinkite published a security advisory on Thursday, warning of an ongoing issue affecting seeds generated on Coldcard Mk3 devices.

"Out of an abundance of caution, Coinkite is warning all users who generated a seed using a Mk3 on version 4.0.1 (March 2021) or any subsequent version that their funds may be at risk," the crypto hardware maker wrote.

Coinkite said the issue exists through firmware version 5.0.3, which is the final release that supported the Mk3.

"Mk4, Q and Mk5 are not affected based on our early analysis of the issue," the company said.

Users who applied a BIP-39 passphrase to an affected Mk3 seed face limited exposure, Coinkite added. 594 BTC The advisory post followed multiple online and social media reports earlier on July 30 of bitcoin being drained from users' Coldcard wallets.