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Meet the Red Team: How Open-Source AI Is Rewriting Security
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Who is the Red Team? One week after the Coldcard entropy bug came to light, a loose web of trusted Bitcoin developers has been quietly ripping through open source repos with AI — and finding things. In this special episode, Zack Cohen and Ken Egan are joined by Rob Hamilton and James O'Beirne for the first public account of how it came together: the tweet, the few hundred dollars on a personal credit card, the harness Rob built in 30 minutes and pushed across roughly 200 repos, and why Codex and Fable downgraded him the second he pointed them at the Coldcard firmware while Kimi K3 just printed everything out. Then: James on Tripwire, his honeypot experiment seeding deliberately weak UTXOs to map the attacks in progress — the default Mk3 wallet was emptied in about an hour, while two dice rolls of added entropy has so far survived — and what that tells us about how long the attacker was…
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Analysis last updated August 25, 2026 · Read the methodologyRead the creator’s original video description
Who is the Red Team? One week after the Coldcard entropy bug came to light, a loose web of trusted Bitcoin developers has been quietly ripping through open source repos with AI — and finding things. In this special episode, Zack Cohen and Ken Egan are joined by Rob Hamilton and James O'Beirne for the first public account of how it came together: the tweet, the few hundred dollars on a personal credit card, the harness Rob built in 30 minutes and pushed across roughly 200 repos, and why Codex and Fable downgraded him the second he pointed them at the Coldcard firmware while Kimi K3 just printed everything out. Then: James on Tripwire, his honeypot experiment seeding deliberately weak UTXOs to map the attacks in progress — the default Mk3 wallet was emptied in about an hour, while two dice rolls of added entropy has so far survived — and what that tells us about how long the attacker was precomputing before anyone noticed. Plus: whether self-custody survives this, why security through obscurity is dead, OpenSats stepping in to fund the effort, and the policy fight over open-weight models — including whether open source developers will end up KYC'ing for frontier access just to stay alive. ⚠️ If you still have funds secured by seeds generated on a Coldcard, move them immediately — and if you were affected, don't throw away the device. 🔶 Connect with Rob Hamilton on X: 🔶 Connect with James O'Beirne on X: 🔶 Connect with Zack Cohen on X: 🔶 Connect with Ken Egan on X: 🔶 Track the ongoing attacks: 🔶 Learn more about the Bitcoin Policy Institute: 🔶 Join us at Freedom Tech DC this September: Chapters: 0:00 — Introducing Rob Hamilton and James O'Beirne 1:58 — Meet the Red Team 2:42 — Codex Downgraded Him. Kimi K3 Printed Everything. 4:27 — Building the Harness: Scanning 200 Repos at Scale 7:21 — Why Now: Did Unconstrained AI Catalyze the Coldcard Hack? 9:53 — Can Anyone Still Trust Self-Custody? 11:35 — Security Through Obscurity Is Dead 13:44 — Tripwire: Honeypots Tracking the Attacks in Real Time 18:00 — Is the Red Team Permanent? OpenSats Steps In 21:59 — Replaying the 90s Crypto Wars: Making Math Illegal 24:02 — The Real Asymmetry: China Had Kimi K3 First 26:28 — The Pitch to Policymakers on Open-Weight AI #Bitcoin #BitcoinPolicy #RedTeam #Coldcard #ColdcardBug #SelfCustody #HardwareWallet #BitcoinSecurity #Multisig #OpenSource #OpenSourceAI #OpenWeights #KimiK3 #AIPolicy #CyberSecurity #VulnerabilityResearch #ResponsibleDisclosure #Tripwire #Honeypot #OpenSats #AnchorWatch #CryptoWars #CLARITYAct #FreedomTech #BitcoinPolicyInstitute #BPI