Chainalysis Says Coldcard Exploit Targeted High-Value Wallets Before Theft

Chainalysis said an analysis of the more than $38 million Coldcard exploit showed that attackers first targeted the highest-value wallets, including one holding $1.8 million, indicating victims were profiled before asset transfers began. According to ChainCatcher, 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. Internal logs from the provider matched the request timing and order, but Block said there was no evidence the company knowingly helped carry out the theft. The information has been shared with authorities.