Coldcard wallet losses may near $114 million as possible fourth sweep emerges
Losses tied to compromised Coldcard hardware wallets may be approaching $114 million as investigators have identified what appears to be a fourth wave of unauthorized fund sweeps, according to a report published by CoinDesk on August 3, 2026. The newly detected sweep adds to a growing tally of victims whose Bitcoin holdings were drained from devices that were widely regarded as among the most secure in the industry.
Coldcard, manufactured by Canadian firm Coinkite, has long been positioned as a gold-standard hardware wallet favored by security-conscious Bitcoin holders and self-custody advocates. The device's air-gapped design and open-source firmware had previously earned it strong trust within the community, making the scale of the reported losses particularly significant. Details surrounding the root cause of the vulnerability or breach mechanism have not yet been fully disclosed by the company or independent researchers.
The incident raises serious questions about the reliability of hardware wallet security and the risks associated with self-custody solutions broadly. If confirmed, losses of this magnitude could dampen retail and institutional confidence in cold storage products and may prompt renewed scrutiny from regulators and security auditors across the industry.
Investigators and blockchain analysts are continuing to trace the movement of affected funds on-chain. Market participants and affected users are expected to watch for further official statements from Coinkite regarding the source of the compromise and any potential remediation measures.
Source: CoinDesk
