From 500 Wallets to $114M: Three More Waves of COLDCARD AttacksIn our previous investigation, we covered the first wave of mass BTC theft, where 594.477 BTC was drained from 500 Bitcoin wallets. BitOK analysts traced the complete flow of the stolen funds.
Further investigation revealed that this was not an isolated incident.
BitOK identified three additional waves of coordinated wallet drains that took place between July 30 and August 3. The total amount linked to these incidents has now reached 1,815.78 BTC, worth approximately $114.8 million.
Where did the funds go?In the first wave, a significant portion of the stolen BTC was gradually consolidated into three major wallets holding approximately 562 BTC, 398 BTC, and 89 BTC.
In the second wave, BitOK identified two additional addresses containing approximately 45.9 BTC and 30.18 BTC.
Funds from the third and fourth waves remain spread across numerous addresses, and no single final destination wallet has been identified yet.
More than 1,158 BTC remain on the largest identified addressesAt the time of analysis, the six largest wallets identified in the investigation collectively held 1,158.65 BTC, with the largest address containing more than 562 BTC.
Stolen BTC doesn't disappear after an attack. It continues moving across the blockchain and can eventually reach new counterparties.
To reduce the risk of receiving funds linked to incidents like these, always screen wallet addresses and transactions with BitOK Bot before sending or accepting crypto.
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