500 Single-Signature Addresses Transfer 594 BTC in 25 Minutes, Worth Approximately $38 Million

594 BTC were transferred from 500 single-signature addresses within 25 minutes, valued at approximately $38 million, and the funds were subsequently consolidated into another wallet. The affected addresses had balances ranging from about 0.15 to 0.26 BTC, with many UTXOs having been dormant for years. Early speculation focused on the Coldcard device, as at least one victim used this device. Coldcard CEO NVK denied any device vulnerabilities, stating that the user may have imported a leaked or weakened seed, and pointed out that the transfer involved keys from different wallets. Jameson Lopp noted that another victim only lost part of their UTXOs, indicating that individual private keys were exposed rather than a complete seed leak. Currently, the coordinated transfer event is confirmed, but the source remains unknown, and there is no evidence to prove the existence of a Coldcard RNG defect, supply chain vulnerability, or Bitcoin cryptographic failure.

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