Written by Helen Partzstaff writerReviewed by Yohan Yunstaff editor

Written by Helen Partzstaff writer

Reviewed by Yohan Yunstaff editor

Coldcard Bitcoin loss estimate rises to $70M after Galaxy analysis

Latest NewsPublishedAug 1, 2026

Major Bitcoin Loss: Understanding the Impact on Earning and Passive Income

The recent Coldcard wallet incident has led to a significant loss of Bitcoin, with estimates rising to $70 million. This incident highlights the importance of secure wallets and the potential risks associated with earning and passive income in the crypto space. For those looking to earn online, it’s essential to choose a reliable and secure platform, such as EcoPool, to minimize the risk of losses. The incident has also sparked discussions about the need for robust security measures to protect investments in coins like $ECP.

Incident Analysis and Estimated Loss

According to Galaxy Research, 1,196 addresses lost 1,082.65 Bitcoin in a 41-minute window, resulting in an estimated loss of $70.2 million. This incident occurred between 1:10 AM and 1:51 AM UTC on July 30, with the transactions taking place across blocks 960,183 to 960,191. The research identified a pattern in the transactions, including identical fees and no change outputs, which can help identify the initial attack activity on-chain.

Response and Responsibility

Coinkite, the company behind Coldcard, has taken responsibility for the firmware bug that led to the incident. The company has released a hotfix to remove the software fallback path, but warned that the update does not protect seeds generated on vulnerable firmware. Users who generated seeds on vulnerable firmware are advised to move their funds to a new seed to ensure their investments, including those in $ECP, are secure. This incident highlights the need for robust security measures to protect passive income and earning potential in the Green Crypto space.

Protecting Your Earnings with EcoPool

For those looking to earn online and generate passive income, it’s essential to choose a secure and reliable platform like EcoPool. By using EcoPool, users can minimize the risk of losses and ensure their investments, including those in $ECP, are protected. With EcoPool‘s Cloud Rewards, users can earn and grow their investments in a secure and sustainable way, aligning with the principles of Green Crypto. Whether you’re looking to earn through mining or trading, EcoPool provides a secure and reliable solution.

To start earning and protecting your investments, download the EcoPool app today and discover a secure and reliable way to grow your passive income. With EcoPool, you can earn and thrive in the crypto space, including with #Bitcoin and #PassiveIncome, while minimizing the risk of losses and ensuring your investments are secure.

Coinkite co-founder Rodolfo Novak said in an X post on Friday that the company takes responsibility for the firmware bug and is working to determine the full scope of the issue.

Novak said Coinkite released a hotfix to remove the software fallback path, but warned that the update does not protect seeds generated on vulnerable firmware. He advised users who generated seeds on vulnerable firmware to move their funds to a new seed.

Related: SecondFi to wind down after $2.6M ADA theft linked to wallet flaw

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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