EPISODE · Aug 4, 2026 · 1H 35M
MORE BITCOIN HACKS ARE COMING — Take Every Precaution Now
from Bitcast · host BTC Sessions
The ColdCard exploit has now drained a confirmed minimum of 1,360 Bitcoin — and attackers are no longer stopping at weak seed phrases. They're actively brute-forcing low-entropy passphrases on top of compromised seeds, and the carnage is still unfolding in real time. Meanwhile, a second major project, Bolts, has quietly shut down its swap services with no return date after AI-assisted attackers outpaced their small team's ability to patch vulnerabilities. In this episode: • ColdCard losses tracked at over 1,360 Bitcoin confirmed minimum, with reports of MK3, MK4, MK5, and Q devices affected — including one MK3 with a two-word passphrase that was brute-forced • An analysis by Dusty Damon reveals a commit introducing the entropy bug had a five-character message ("runs.") describing 1,534 lines of changed code — a ratio of 0.003 versus a healthy benchmark of around 16 • Bolts, the backend powering lightning swaps in wallets like Aqua and Bull Bitcoin, has suspended swap services after AI-assisted attackers iterated faster than their team could patch, impacting lightning functionality in those wallets • Rob Hamilton of Anchorwatch has personally spent over $10,000 scanning 100-plus Bitcoin ecosystem repositories using Kimi K3, finding multiple serious vulnerabilities and disclosing them responsibly • Wizard Sardine's Perveen launched an out-of-band SlipStream tool at outofband.wizardsardine.com allowing multisig and Miniscript wallet users to submit transactions directly to Marathon miners without broadcasting publicly • A Bitcoin Policy Institute video illustrated the exploit's scale: the bug reduced seed entropy from a search space equivalent to two billion Milky Way-sized galaxies down to the size of a large virus • Jim Kramer announced he is selling his Bitcoin over quantum computing fears after IBM's CEO warned him to be paranoid within three to four years — immediately declared a bear market bottom signal by the hosts Watch the video version: https://youtu.be/i4Ei0hM-WOg
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MORE BITCOIN HACKS ARE COMING — Take Every Precaution Now
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