Bitcoin Price Dips as Dormant Whale Moves $46M Amid Fourth COLDCARD Attack

• Bitcoin price slipped as a dormant whale transferred 730 BTC worth about $46 million after four years of inactivity
• Galaxy Research identified a fourth suspected COLDCARD attack wave involving nearly 389 BTC across 462 wallet addresses
• The exploit has now affected 4,585 wallets, with total losses approaching $89 million, prompting users to migrate funds to new wallets

Bitcoin price dropped on Monday as a dormant wallet holding millions of dollars’ worth of BTC suddenly came back to life after four years. The transfer alone would have been enough to start speculation across the crypto market. But this comes amidst a new wave of attacks targeting vulnerable COLDCARD hardware wallets. This has further prompted some analysts to wonder if long-term holders are quietly moving funds to safer addresses.

Also Read: Multi-Billion Dollar Anthropic Deal Sets Historic Milestone Ahead of AMD Q2 2026 Earnings

Bitcoin Price Is In Focus as $46M Whale Transfer Sparks Security Questions

At press time, Bitcoin was trading at $62,712.02 following a drop of 1.13% over the past 24 hours. The king coin was trading at a high of $63,714.61 before dipping to a low of $62,689.04.

Blockchain analytics platform Onchain Lens reported that a dormant Bitcoin whale transferred 730 BTC. This was worth about $46 million, after four years of inactivity. The firm suggested the movement may be linked to the ongoing COLDCARD exploit. It should be noted that there is no confirmed evidence that the two events are directly connected.

Large wallet transfers often raise concerns about potential selling pressure, but they can also reflect changes in custody. In this case, in the background, there is a notable security incident affecting one of Bitcoin’s best-known hardware wallets.

Also Read: Best DePIN Projects: One Pays You to Drive, One Pays You to Share WiFi, One Rivals AWS

Fourth COLDCARD Attack Sweeps Nearly 389 BTC

Galaxy Research’s head of research, Alex Thorn, said a fourth suspected organized attack wave had emerged between Bitcoin blocks 960,778 and 960,792. According to Thorn, the latest activity involved 218 transactions across 462 victim addresses. It drained about 388.9 BTC. Transaction activity during the period was about 45 times higher than normal. Meanwhile, some stolen funds had already been moved to second-hop addresses, making them harder to trace.

The latest wave adds to an already costly exploit. Galaxy Research previously identified three earlier attack waves that affected 4,585 addresses and drained 1,367 BTC. These were worth nearly $89 million at current prices. Several victims came forward and revealed their losses on X.

This traces back to vulnerable COLDCARD firmware that generated predictable recovery seed phrases. Coinkite has since halted shipments of affected devices, released patched firmware, and urged users who created wallets using the vulnerable software to generate new seed phrases and move their Bitcoin immediately.

Also Read: Warning: Solana AI Crypto Scams Now Bypass Smart Contracts, CISO Says