2417: A $114 Million Bitcoin Hack Just Escalated - Why the Hackers Can't Cash Out

The Coldcard incident continues escalating.

Estimated losses have climbed beyond $114 million, researchers believe a fourth wave of attacks may already be underway, and the emergency firmware hotfix is now facing additional issues. We explain why the attackers' biggest challenge may no longer be stealing Bitcoin, but spending it, while separating Bitcoin's protocol from a hardware wallet firmware failure. We also discuss the latest on-chain developments, blockchain transparency, institutional accumulation, and why Bitcoin's long-term fundamentals remain unchanged.

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