Coldcard Wallet Bug Leads to $38M Bitcoin Theft, Raises Self-Custody Concerns

·1 views

A software vulnerability in the widely used Coldcard hardware wallet has resulted in the theft of nearly 600 bitcoin, valued at approximately $38 million. The exploit has raised serious questions about the security of self-custody solutions for everyday cryptocurrency investors. Critics are now debating whether managing private keys independently has become too complex and risky for the average user. The incident is reportedly pushing some investors to consider regulated alternatives such as Bitcoin ETFs instead.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Tether Reports $1.5B Operating Profit in Q2 Despite Shrinking Reserve Buffer

Tether, the world's largest stablecoin issuer, recorded an operating profit of $1.5 billion in the second quarter. However, the company's reserve buffer fell by approximately half during the same period. To strengthen its holdings, Tether added 14 metric tons of gold to its reserves in Q2. The firm also acquired around 1,800 bitcoin as part of its reserve diversification strategy.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Crypto Traders Weigh Pros and Cons of Perpetual Futures Contracts

Perpetual futures contracts, or perps, remain a popular but debated instrument among cryptocurrency traders. Both retail and institutional participants have raised concerns about funding rates, which are periodic payments exchanged between long and short position holders. Funding rates can significantly affect the profitability of holding perpetual positions over time. Traders acknowledge the flexibility perps offer while remaining cautious about the costs associated with sustained positions.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

IBM CEO Predicts Quantum Computing Will Turn Profitable Before 2030

IBM CEO Arvind Krishna has stated that quantum computing is on track to produce significant commercial revenue within this decade. He made the remarks during an interview on CNBC, signaling growing confidence in the technology's near-term viability. Krishna's comments come as investment in the quantum computing sector continues to accelerate. The statement marks a notable milestone in industry expectations for a technology long seen as promising but commercially distant.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Three Key Hurdles Stand Between Crypto and Its Next Bull Run

STS Digital CEO Maxime Seiler has identified three major obstacles currently holding back a crypto bull run. Institutional options selling is creating downward pressure on bitcoin's price. The growing influence of artificial intelligence is also cited as a complicating factor for the market. Additionally, the prolonged delay in clear U.S. cryptocurrency regulation continues to weigh on investor sentiment and market momentum.

0 comments Read more at CoinDesk