Coldcard Exploit Fuels Market Fear as 2 Bitcoin Forks Loom Ahead
Key TakeawaysBitcoin traded near $63,000 after a Coldcard hardware wallet hack drained 1,082 BTC on July 30.Blackrocks IBIT led $265 million in Bitcoin ETF outflows on July 31.Miners will decide on BIP-110 near block 961,632 as an eCash fork looms on August 21. The worlds largest cryptocurrency traded between roughly $62,300 and $63,100 during early Saturday trading sessions after briefly pushing above $65,000 a day earlier. While bitcoin still finished July up about 7.36%, the calendar flip into August quickly erased much of that momentum as sellers regained control. The Coldcard Incident Changed the Conversation Security stories rarely stay isolated from price action, especially when they involve self-custody. The Coldcard incident did exactly that. Attackers exploited a long-standing firmware flaw to drain 1,128.6633 BTC from over 1,100 wallets in a tightly coordinated operation, reminding the market that even trusted hardware can become a source of risk if a vulnerability goes unnoticed for years. The response followed a familiar pattern seen after major security events. Coinkite released patched firmware and instructed affected users to generate entirely new wallet seeds rather than simply update their devices. That distinction matters because once a compromised seed exists, installing new software does nothing to restore its security. Migrating funds