Crypto video source · Discovered
He's Tracing Every Stolen Coin From the ColdCard Hack. Will Victims Get Them Back?
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More than 1,700 bitcoins have been drained from Coldcard wallets belonging to people who did everything right when it comes to self-custody. Alex Thorn, Head of Firmwide Research at Galaxy Digital, has been tracing those coins on-chain since the second day of the attack, working directly with victims. He joins me with the fullest accounting of the hack that exists anywhere. In this episode: - Where the stolen Bitcoin is sitting right now and how many waves of attacks there have been - What Alex expects the hackers who took it to do next - How could this seed generation flaw stay hidden for five years? - The volunteer "Red Team" effort that formed overnight, and what it's turned up so far - The one thing every victim should do today, whether or not they ever see their coins again - His read on the failed BIP 110 fork, and what he'd say to the people who backed it Follow Alex Thorn on X 📖…
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Analysis last updated August 22, 2026 · Read the methodologyRead the creator’s original video description
More than 1,700 bitcoins have been drained from Coldcard wallets belonging to people who did everything right when it comes to self-custody. Alex Thorn, Head of Firmwide Research at Galaxy Digital, has been tracing those coins on-chain since the second day of the attack, working directly with victims. He joins me with the fullest accounting of the hack that exists anywhere. In this episode: - Where the stolen Bitcoin is sitting right now and how many waves of attacks there have been - What Alex expects the hackers who took it to do next - How could this seed generation flaw stay hidden for five years? - The volunteer "Red Team" effort that formed overnight, and what it's turned up so far - The one thing every victim should do today, whether or not they ever see their coins again - His read on the failed BIP 110 fork, and what he'd say to the people who backed it Follow Alex Thorn on X 📖 Order Natalie's new book "Bitcoin is For Everyone," a simple introduction to Bitcoin and what’s broken in our current financial system ⚡ *Borrow against your Bitcoin without selling it with Ledn* Ledn offers Bitcoin-backed loans built for serious holders, with rates that get lower as your loan size increases. With Ledn’s custodied loan product, your Bitcoin is held in custody and not lent out. Ledn has operated through multiple market cycles without a loss of client assets and publishes Proof of Reserves so you can verify what they hold. Get 0.25% off your first bitcoin-backed loan → (Offer subject to terms and eligibility. Digital asset lending involves risk, including loss of collateral.) ⚡ *Bitdeer Technologies Group* (NASDAQ: BTDR) powers AI and Bitcoin mining infrastructure with 3 GW of secured global energy — and owns the entire stack, from equipment manufacturing to data centers to proprietary orchestration software. Learn more at ⚡ *Abundant Mines* Fully-managed Bitcoin mining in the U.S. You own the miners. You keep 100% of the Bitcoin. Voted #1 mining company by peers. Get 1 month of free hosting ⚡ *Speed Lightning Wallet* Speed is my go-to Bitcoin Lightning wallet! Send, receive, or swap stablecoins and digital gold into Bitcoin in one app. Run a business? Speed powers Bitcoin payments for Steak 'n Shake, and it can do the same for you. Download at and use code COINSTORIES10 for 5,000 free sats after your first transaction. ⚡ Download *Bitkey* today and use my promo code STORIES to get 10% off the new Bitkey. This episode was sponsored by Bitkey. ⚡ *The Bitcoin Way* Master Bitcoin self-custody and gain peace of mind with 1-on-1 training: ⚡ *BitcoinIRA* You can invest in bitcoin 24/7 inside a tax-advantaged IRA. Choose a Traditional IRA to defer taxes, or a Roth IRA for tax-free withdrawals later. Take control of your future with BitcoinIRA *Extra Services to Consider* ⚡ Stop over-paying for healthcare coverage. Join me at CrowdHealth with a discounted plan at: *IN THIS EPISODE* 00:00 Understanding the Coldcard Security Situation 2:40 Was the Coldcard…