On-chain investigator Specter has raised questions about a claimed Coldcard hack after tracing 73 BTC linked to the case. According to Specter, the person described as a victim said funds were moved from Bitcoin to Ethereum after the incident. But blockchain data showed the 73 BTC, valued at about $4.6 million, had come from the Whirlpool mixer two weeks earlier. Part of the funds was then bridged to Ethereum and deposited through a phishing Tornado Cash interface. Specter said two mixers were used during the transfers. The investigator also said the individual had appeared in Telegram groups tied to private key searching and brute-force cracking. Based on those findings, Specter said the supposed victim may in fact be a threat actor, and that the funds may themselves have been stolen by another threat actor.
Odaily reported that on-chain investigator Specter has questioned the narrative around a claimed Coldcard hack, saying the fund movements tied to the case show several red flags.
According to Specter, the person described as a victim said funds were moved from Bitcoin to Ethereum after the alleged attack. On-chain data, however, showed that 73 BTC, valued at about $4.6 million, had originally come from the Whirlpool mixer two weeks earlier.
Specter said part of those funds was bridged to Ethereum and then deposited through a phishing Tornado Cash interface. The transfers involved two mixers in total.
The investigator also said the individual had been found in Telegram groups related to private key searching and brute-force cracking. Based on those observations, Specter said the supposed victim may actually be a threat actor, and that the funds may also have been stolen by another threat actor.
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