Bitcoin: Coldcard security update urges users to move funds - 02 Aug 2026

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.