Boltz, a company that enables bitcoin transfers between the main blockchain, Lightning Network, and Liquid sidechain, shut down all swap services on August 3. The decision followed months of automated attacks that Boltz said were increasingly powered by artificial intelligence. The disclosure rattled Bitcoin users, especially as it coincided with a Coldcard-related event.
The AI-powered attacks
Boltz didn't detail the exact nature of the attacks, but described them as automated and escalating over time. The company said the attacks were increasingly driven by AI, making them harder to mitigate. The shutdown wasn't sudden — it came after a prolonged period of disruption that eventually made the service untenable.
Coldcard connection
The timing of Boltz's announcement overlapped with a Coldcard-related event, though the company didn't elaborate on the link. Coldcard is a popular hardware wallet known for its security focus. The coincidence added to unease among Bitcoin users, some of whom speculated about broader vulnerabilities.
What users lost
Boltz's swap service allowed users to move bitcoin between the main chain, Lightning, and Liquid without relying on a centralized exchange. That functionality is now gone. Users who had pending swaps or funds in transit were left in limbo. Boltz hasn't provided a timeline for resolving those cases.
Boltz hasn't said when or if services will resume. The company's silence leaves users waiting. For now, the Bitcoin ecosystem has one fewer tool for trust-minimized swaps — and a reminder that even decentralized services aren't immune to sustained, AI-driven attacks.
