Bitcoin's on-chain activity jumped this week, with new wallets reaching 2.27 million, the highest so far in 2026, and active wallets hitting 751,000, a multi-month high, according to Odaily. Active addresses peaked at nearly 978,000 on July 31, roughly 1.6 times the July daily average. The first week of August averaged about 751,000 active wallets, above July's average of around 610,000. Daily exchange inflows averaged $1.55 billion, down from $1.67 billion in July, suggesting the activity was not accompanied by obvious exchange buying. The surge is linked to a firmware vulnerability in Coinkite's Coldcard hardware wallets affecting some Mk3, Mk4, Mk5 and Q devices. The bug involves seed generation using a software random number generator, reducing effective entropy to roughly 40 or 72 bits on affected units. Since July 30, related bitcoin losses have exceeded $116 million. Holders of affected devices have moved funds to new addresses and switched to unaffected hardware. Coinkite has released a firmware fix and an entropy remediation disclosure. The flaw is a device-level random number generation issue, not a defect in the Bitcoin protocol layer.
Bitcoin's on-chain activity climbed sharply this week. New wallets reached 2.27 million, the highest so far in 2026, while active wallets stood at 751,000, a multi-month high. Active addresses nearly touched 978,000 on July 31, about 1.6 times the July daily average. In the first week of August, the daily average was roughly 751,000, above July's average of around 610,000.
Exchange inflows, however, tell a quieter story. Daily inflows averaged $1.55 billion, below July's $1.67 billion, signaling that the activity spike was not matched by obvious exchange buying.
The rise in on-chain activity is tied to a vulnerability in Coldcard hardware wallets from Coinkite. The flaw affects some Mk3, Mk4, Mk5 and Q models, where seed generation relies on a software random number generator. On affected devices, effective randomness drops to about 40 or 72 bits. Since July 30, bitcoin losses tied to the bug have exceeded $116 million.
Users who held affected devices have moved funds to fresh addresses and switched to unaffected hardware. Coinkite has issued a firmware patch and published an entropy remediation disclosure. The problem sits in the device's firmware random number generation, not in the Bitcoin protocol itself.
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