Chainalysis Analyzes Over $38 Million Coldcard Exploit as Attackers Target High-Value Wallets

Chainalysis said its analysis of the Coldcard exploit involving more than $38 million showed that attackers first targeted the highest-value wallets, including one holding $1.8 million, indicating that victims had been profiled before the transfers began. According to Odaily, about $30 million was stolen in the first 10 minutes, and roughly 500 wallets were emptied within 25 minutes.Block’s Clay Garrett said investigators also confirmed that the attackers used a paid account from a well-known blockchain service provider to query victim addresses during the operation. The provider’s internal logs matched the timing and sequence of the requests, but Block said it found no evidence that the company knowingly assisted the theft. The information has been shared with authorities.