Unchained · Friday, August 7, 2026
The non-custodial nature of Coldcard wallets makes it difficult for the company to warn users about the seed phrase generation vulnerability. This is because Coldcard does not hold user data, preventing them from proactively alerting customers to move their funds.
“One reason is because the attacks play out like this, where we are going to see losses for the coming weeks and even months, right? The other reason is that these are non-custodial. The Coldcard users specifically are like, pretty hardcore Bitcoiners, Coldcard specifically deleting all of their data.”
“This was like a marketing thing, right? Like they were like, we're not ledger, we don't keep any data. So now they have this five-year-old bug that's racking everyone and they have no way to warn people. Like, you know, like move their money, right?”