Key facts
- Galaxy Research estimates 1,789.28 Bitcoin were stolen in the Coldcard hack.
- The value of the stolen Bitcoin was $114.7 million at the time of the theft.
- 87.3% of the stolen Bitcoin, totaling 1,561 BTC, remains unmoved.
- More than half of 221 victim reports involved losses exceeding 1 Bitcoin.
- Galaxy has shared attacker addresses with exchanges and law enforcement.
Galaxy Research has tallied the losses from the Coldcard hack, estimating that 1,789.28 Bitcoin, valued at $114.7 million at the time of the theft, were stolen. According to Alex Thorn, Galaxy's head of research, a significant majority of these funds, 1,561 Bitcoin or 87.3%, remain untouched in addresses controlled by the attackers. The majority of the stolen Bitcoin is still held in collection or holding addresses, including all funds from the initial attack phases. While some Bitcoin from later attacks has been moved using obfuscation techniques like CoinJoin and peel chains, the largest stolen amounts are still visible on-chain. Galaxy's analysis also incorporated data from 221 victim reports, which collectively accounted for 790.72 Bitcoin in losses. The median loss among these reported cases exceeded 1 Bitcoin, indicating substantial individual losses for many victims. Galaxy has shared the identified attacker addresses with cryptocurrency exchanges, compliance firms, and law enforcement agencies in an effort to freeze the funds should they be moved through centralized intermediaries.