Coldcard Losses Near $114M as Small Bitcoin Transfers Spike - Decrypt

In brief

Transfers of less than 1 BTC reached 39,600 BTC on July 31, close to the 39,900 moved days after FTX failed, per CryptoQuant.

Daily active addresses jumped from 645,000 to almost a million, the highest since December 2024.

Galaxy Research has flagged a likely fourth wave of thefts, which would take losses to about 1,816 BTC.

Small Bitcoin holders moved coins on July 31 at a rate not seen since the collapse of FTX, according to CryptoQuant, as news spread that Coldcard hardware wallets had been generating guessable keys for five years.Transfers of less than 1 BTC totaled 39,600 BTC (around $2.5 billion) that day, the firm's Head of Research Julio Moreno tweeted. The last comparable figure was 39,900 BTC on November 16, 2022, days after FTX failed. Daily active addresses rose from 645,000 on July 30 to almost a million on July 31, the highest since December 2024, with the jump concentrated in sending addresses rather than receiving ones.