Galaxy said nearly 1,200 addresses were drained of more than 1,000 BTC worth roughly $70 million tied to a Coldcard vulnerability.

Bitcoin security experts said the unexplained $38 million wallet drain may involve flawed seed-generation entropy, though the cause and any Coldcard link remain unconfirmed.

Coinkite recommends that Mk3 users create a strong, unique BIP-39 passphrase on the device and move funds to the resulting wallet.

Over $70 million in Bitcoin has been pinched. Coldcard has since urged its users to take precautions.