Coldcard’s ‘Sleep at Night’ Tech Fails in 2026 Drain of 1,200 Bitcoin Addresses
A hypothetical mass drain of Coldcard wallets without physical compromise would undermine trust more than any exchange hack, despite the device's cypherpunk marketing.
The 2022 FTX collapse drove record hardware wallet demand, boosting sales for Trezor, Ledger, BitBox, and Coldcard. Coldcard carved a niche as a cypherpunk device, using the slogan ‘Sleep at Night Technology’ to emphasize uncompromising security.
On July 30, 2026, however, an unknown actor reportedly drained nearly 1,200 Bitcoin addresses linked to Coldcard — without any physical breach of the devices themselves. Advanced security features and hardline marketing failed to prevent the loss.
The incident, even if only a scenario, raises fundamental questions about hardware wallet trust. The fallout could hit bitcoin more severely than any exchange hack, as it would show that even those following all best practices were defenseless.
Source: ForkLog