Coldcard’s seed-generation flaw sent Bitcoin holders scrambling to move funds, lifting active addresses to 0.98 million a day even as BTC price stayed steady in the mid-$60,000s. The damage was real, but it was a custody failure — not a Bitcoin protocol failure.
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AI-assisted review flagged 4,962 possible issues across 390 Bitcoin codebases in under 30 hours after the Coldcard flaw exposed a brutal seed-generation bug. Most findings still need human verification, but the sweep shows how much security debt still lurks in Bitcoin software.
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A Coldcard firmware bug didn’t break Bitcoin — it broke seed generation. Weak fallback randomness left some offline wallets vulnerable, and once the seed is compromised, no firmware update can undo the damage.
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A Coldcard firmware flaw tied to weak seed generation has been linked to more than $100 million in Bitcoin thefts, and David Schwartz says it’s a blunt reminder that self-custody removes middlemen, not risk. Bitcoin wasn’t hacked — bad wallet security was.
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Galaxy Digital says a Coldcard firmware bug may have weakened seed generation and exposed Bitcoin holders to roughly $70 million in theft. Coinkite has patched the flaw, but affected users still need to create new seeds and move funds — because an updated wallet does not fix a tainted one.
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