Binance founder Changpeng Zhao, better known as CZ, commented on the Coldcard wallet attack after reposting discussion of the incident on X. His main point was that software bugs are unavoidable and that the deciding factor is how the team behind a product responds once a flaw is exposed.
CZ also pointed to a past case involving Trust Wallet. He said the wallet had faced a similar issue years ago because it used a pseudo-random number generator that was not truly random, leading to losses of about $12 million. According to his account, the team ultimately covered user losses.
The remarks came as the suspected attack targeting addresses generated by Coldcard entered what was described as a third wave. In the latest movement, the attacker transferred about 207.7294 BTC again. Available data shows the total scale of observed Coldcard-related attacks has expanded to roughly 1,367.05 BTC across about 4,585 addresses, worth about $88.6 million at current prices.
Binance founder Changpeng Zhao, or CZ, said software will always have vulnerabilities, and that the key issue is how the team behind it handles the problem. He made the comment on X while reposting discussion of a user incident tied to the Coldcard wallet attack.
CZ added that Trust Wallet had run into a similar issue years ago. He said the problem stemmed from the use of a pseudo-random number generator that was not truly random, which led to losses of about $12 million. The team, he said, ultimately covered user losses.
Third wave reported in Coldcard-related attack
Earlier information indicated that the suspected attack targeting addresses generated by Coldcard had entered a third wave, with the attacker moving another 207.7294 BTC.
Data shows the total observed scale of Coldcard-related attacks has now reached about 1,367.05 BTC, involving about 4,585 addresses. At current prices, that is valued at roughly $88.6 million.
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