The Coldcard hardware wallet exploit keeps getting worse. Losses have now topped $116 million as attackers continue to drain funds in ongoing waves. The hack, which first surfaced earlier this week, has hit users across multiple batches of the popular cold-storage device. Bitcoin is trading near $64,000, but the mood is sour.
Coldcard exploit continues
The theft isn't a one-and-done event. Fresh waves of withdrawals have been reported over the past 48 hours, suggesting the attackers still have access to private keys or seed phrases. Coldcard has not yet released a full post-mortem. Users are being told to move funds to other wallets. The $116 million figure makes this one of the larger hardware wallet breaches in recent years.
Strategy sells into the market
Strategy — the company formerly known as MicroStrategy — has been selling Bitcoin this week. The timing isn't great. With the Coldcard hack already spooking retail holders, additional sell pressure from a major corporate holder adds to the downward drift. Strategy didn't say why it's selling, but the market is taking note.
Clarity Act stalls
The Clarity Act, a bill meant to give Bitcoin and crypto clearer legal treatment, is stalling in Congress. No vote is scheduled. That leaves the regulatory landscape fuzzy — exactly the kind of uncertainty that makes institutions hesitate. For a market already dealing with a high-profile hack and corporate selling, the lack of progress on the bill is another headwind.
The big open question is whether the Coldcard exploit has been fully contained. If more wallets are compromised, the damage could grow. Meanwhile, Strategy's selling could accelerate or stop — the company hasn't given guidance. And the Clarity Act's fate may not be known until after the August recess. For now, Bitcoin is holding $64,000, but it's a fragile hold.
