594 BTC from 500 Single-Signature Addresses Moved in 25 Minutes, Valued at Approximately $38 Million

Odaily Planet Daily News According to Bitcoin News monitoring, approximately 594 BTC from 500 addresses were transferred within 25 minutes on Thursday, valued at about $38 million. The funds were subsequently consolidated into another wallet. Affected holdings all 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 previously compromised or weak seed. He 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. Currently, this coordinated transfer event is confirmed, but the source remains unknown. There is no evidence to suggest a Coldcard RNG flaw, supply chain vulnerability, or a failure in Bitcoin cryptography.