594 BTC from 500 Single-Sig Addresses Moved in 25 Minutes, Worth Approximately $38 Million

Odaily Odaily Planet Daily News According to Bitcoin News monitoring, approximately 594 BTC from 500 addresses were transferred within 25 minutes on Thursday, worth about $38 million, with the funds subsequently consolidated into another wallet. All affected holdings used single-signature addresses, with balances ranging from approximately 0.15 to 0.26 BTC, and many UTXOs had been dormant for years. Early speculation centered on Coldcard, as at least one victim used that device. Coldcard CEO NVK denied the existence of a device-wide vulnerability, stating that the user may have imported a seed that had previously been compromised or was weak, and noted that the transfers involved keys from different wallets. Jameson Lopp indicated that another victim only lost a portion of their UTXOs, not their entire wallet balance, which may suggest exposure of individual private keys rather than a full seed compromise. At present, the coordinated transfer event is confirmed, but the source remains unknown, with no evidence yet of a Coldcard RNG flaw, supply chain vulnerability, or a failure in Bitcoin cryptography.