Bitcoin cold-wallet attack spreads to 4,500 addresses as losses near $89 million
A sophisticated cyberattack targeting Bitcoin cold wallets has expanded significantly, now affecting approximately 4,500 addresses with cumulative losses approaching $89 million, according to reporting by CoinDesk. The attack, which initially appeared limited in scope, has grown rapidly as investigators continue to assess the full extent of the breach. Security researchers are actively working to identify the attack vector responsible for compromising wallets that are typically considered among the most secure storage methods available to cryptocurrency holders.
Cold wallets, which store private keys offline and disconnected from the internet, have long been regarded as a reliable safeguard against remote hacking attempts. The fact that this attack successfully targeted such devices suggests either a supply chain vulnerability, a flaw in firmware, or a compromise occurring during the wallet setup process. Similar hardware wallet vulnerabilities have emerged in recent years, though rarely at this scale or with losses of this magnitude.
The incident raises serious concerns across the broader cryptocurrency industry regarding the reliability of hardware-based security solutions. If cold storage can no longer be considered an adequate protection standard, both institutional and retail investors may face pressure to reevaluate their custodial strategies. Market participants are closely monitoring whether affected asset holders will be forced to liquidate positions, which could introduce additional selling pressure on Bitcoin.
Investigators have not yet publicly attributed the attack to a specific threat actor. Further disclosures regarding affected wallet manufacturers and potential remediation steps are expected in the coming days.
Source: CoinDesk
