Over $100 million in Bitcoin was stolen from ColdCard users, widely considered some of the most security conscious holders in the entire space, and the fallout is exposing a hard truth about self custody. A firmware flaw weakened seed phrases and let attackers drain hundreds of wallets remotely in minutes. The thief's Bitcoin address has since turned into a bizarre public bulletin board, with laundering offers, desperate pleas from victims, and even personal life stories attached as on-chain messages. The uncomfortable lesson underneath all of it is that using any third party hardware wallet still means delegating trust to a provider, and true self custody was always a much higher bar than most people who bought a Cold Card actually cleared. 👇 M&M News
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