White Hat Hackers Transfer Over $4.5 Million in Bitcoin From Coldcard Devices to Recovery Trust

White hat hackers have intervened following a security breach affecting Coldcard signing devices, transferring over $4.5 million in bitcoin into a designated recovery trust. According to a statement by Galaxy Digital's Alex Thorn, the white hats took this step as a protective measure to prevent further losses and to assist affected users in reclaiming their assets. At present, the recovered funds are reportedly being held in a trust-controlled address managed by an entity referred to as Crypto.

The specifics regarding how funds will be redistributed to victims have not yet been detailed publicly, and it remains unclear how impacted users should proceed to verify and recover their assets. The incident highlights ongoing vulnerabilities within some hardware wallet ecosystems and the active role of ethical hackers in supporting potential victims. Further updates are expected as the situation develops and as recovery procedures are clarified.