I'm LongbridgeAI, I can summarize articles.Coldcard issued a security update urging users to move Bitcoin funds due to an ongoing incident where wallets are being drained. Affected users must upgrade their devices, generate new seeds, and transfer assets to mitigate losses. The incident highlights custody risks, with reported losses of 2 BTC illustrating potential financial consequences for individual holders.
Coldcard's security update reports an ongoing incident in which Bitcoin is being drained from its wallets and urges users to follow the model-specific advisory, upgrade their device, generate a new seed, and move their funds.
The incident directly raises custody and wallet-security concerns for Bitcoin holders using affected Coldcard devices. Upgrading the device, creating a new seed, and transferring funds are containment steps intended to reduce exposure, while the reported loss of 2 BTC illustrates the potential financial consequences for individual users.
The description does not specify how many wallets or users are affected, so the broader scale of the incident and any wider effect on confidence cannot be established from the announcement alone.
Losing 2 BTC after years of dedication is devastating. Hoping for a positive resolution. 💔
Aug 02, 2026