Bitcoin Holds Above $63K as Coldcard Wallet Hack Losses Near $89 Million

Bitcoin held its ground above the $63,000 level on Sunday, showing resilience as the market absorbed dual pressures from escalating losses tied to a Coldcard hardware wallet vulnerability and reports of large Bitcoin movements by Trump Media & Technology Group.

Coldcard Exploit Losses Mount

Losses from a critical vulnerability in Coldcard hardware wallets have now reached 1,367 BTC, valued at nearly $89 million, according to data from Galaxy Research. The exploit stems from a March 2021 firmware version that used a predictable software-based random number generator, allowing attackers to reconstruct private keys offline without physical access to the devices.

The attacks have occurred in three waves, with the latest transfers taking place between Friday and Saturday, draining approximately 208 BTC from 1,912 smaller-balance addresses. In total, funds from 4,585 separate addresses have been compromised since the initial attack on July 30, according to the research.

Corporate Holdings Under Scrutiny

Adding to market uncertainty, blockchain analytics account Lookonchain reported that Trump Media & Technology Group (NASDAQ:DJT) had sold 2,628 BTC worth about $165 million. However, a company spokesperson later clarified to The Block that the transaction was a *transfer* to the cryptocurrency exchange Crypto.com, not a sale.

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Lookonchain estimates Trump Media has incurred total realized and unrealized losses of approximately $555 million on its Bitcoin holdings. The firm's remaining 4,260.73 BTC are held as collateral for convertible notes and are locked until May 2028.

Market Resists Headwinds

Despite the negative headlines, Bitcoin was trading at $63,526.0 as of 17:00 ET on Sunday, up 1.38% over the prior 24 hours. The price stability suggests underlying support in the market, even during typically quiet weekend trading.

Counterbalancing the selling pressure, spot Bitcoin ETFs recently registered over $220 million in net inflows, reversing a previous trend of outflows. This indicates continued demand from institutional investors, which could provide a long-term support floor for the asset, even as security concerns and corporate actions create short-term volatility.