How bitcoin cold wallets lost $70 million in an attack that never touched the devices
CoinDesk·
60-second summary
Galaxy Research reveals a sophisticated attack that compromised nearly 1,200 cold wallets, resulting in over $70 million in losses, without ever accessing the devices. Weak seed generation allowed an attacker to recreate private keys offline, sweeping over 1,000 BTC. This exploit highlights the importance of robust wallet security measures in the cryptocurrency space.
Galaxy Research said weak seed generation let an attacker recreate likely private keys offline, sweep more than 1,000 BTC from nearly 1,200 wallets and continue searching without ever accessing the devices.