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REDDIT

The Story Behind the Hack: The Fall of the Bitcoin Citadel and the $88 Million Coldcard Catastrophe.

S
Aug 3, 2026 · 08:06

**$88,000,000 drained in 41 minutes. 🚨**

The Coldcard Mk3 wasn't smashed. It was beaten by a 5-year-old firmware bug, an open-source licensing war, and an AI that found the master key human auditors missed.

**128-bit entropy silently dropped to 40-bit. The Citadel fell. Single-sig is officially dead.**

I just published the definitive deep-dive into the six-year story behind the most devastating hardware exploit in Bitcoin history.

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