Episode
Coldcard Wallet Hack: What Happened and What to Do Now
- Podcast
- The Bitcoin Layer
- Published
- Jul 31, 2026
- Duration seconds
- 1540
- Processing state
not_requested- Canonical source
- https://mysoundwise.com/soundcasts/1665708396190s
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Summary
In this episode, Nik and TBL's Demian Schatt cover a breaking security situation: a seed-generation vulnerability in Coldcard hardware wallets that has exposed some bitcoiners to theft, with reports of wallets being swept over the last twenty-four hours. Nik, speaking as a researcher rather than a cryptographer, explains how bitcoin seed phrases are generated, why the entropy behind a seed is what keeps it safe, and how Coldcard's default seed generation left certain users vulnerable while those who added dice-roll entropy or a passphrase are better protected. He explains why bitcoin ETF holders are not affected and why he has long favored diversified storage. The video is a call to action: check your wallet and how your seed was generated. The Bitcoin Layer and its guests do not provide investment advice.