SECURITY

The Coldcard funds are moving: what stolen crypto looks like weeks after a hack

Aug 7, 2026 · SECURITY

The attackers behind the Coldcard hardware wallet incident have begun moving the stolen assets — 64 BTC and 200 ETH — into cryptocurrency mixers, services designed to obscure the trail between a wallet's source and its destination. This is a predictable phase, not a new development in the underlying exploit: stolen funds sitting untouched in a traceable wallet are a liability to whoever holds them, and mixers are the standard next step once the immediate attention around a hack has cooled. For readers who followed the entropy guide on this same incident: this is what "after the hack" actually looks like in practice — not a dramatic reveal, but a quiet laundering process that on-chain analysts can still often trace, even through a mixer, by watching where the funds resurface. Recovery, when it happens, usually comes from that resurfacing — not from the mixing step itself.

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