[News Brief] Apr 22, morning | $88 Million Lost Due to Seed Generation Code Flaw in Coldcard Bitcoin Hardware Wallet

A wallet identified as being involved in the Coldcard-related attack, reportedly holding 562 BTC, is said to have received a message from an unknown sender recommending the use of an on-chain laundering service. Odaily reported that such a message was sent to the wallet. The sender’s identity and the specific nature of the service have not been confirmed. Coldcard is a Bitcoin hardware wallet brand.

A wallet identified as being involved in the Coldcard-related attack, reportedly holding 562 BTC, is said to have received a message from an unknown sender recommending the use of an on-chain laundering service. Odaily reported that such a message was sent to the wallet. The sender’s identity and the specific nature of the service have not been confirmed. Coldcard is a Bitcoin hardware wallet brand.

Bitcoin.com News reported that a flaw in the seed generation code of the Coldcard Bitcoin hardware wallet led to losses of more than 1,300 BTC over the past two days, totaling $88 million (about KRW 122.3 billion). Affected users are reportedly preparing legal action against manufacturer Coinkite. The flaw was discovered in the code that generates seed values during the wallet’s initial setup process, and it is believed to have led to the loss of user funds. The specific technical cause of the flaw and Coinkite’s official position have not yet been confirmed.

Bitcoin.com News reported that a flaw in the seed generation code of the Coldcard Bitcoin hardware wallet led to losses of more than 1,300 BTC over the past two days, totaling $88 million (about KRW 122.3 billion). Affected users are reportedly preparing legal action against manufacturer Coinkite. The flaw was discovered in the code that generates seed values during the wallet’s initial setup process, and it is believed to have led to the loss of user funds. The specific technical cause of the flaw and Coinkite’s official position have not yet been confirmed.

The U.S. Central Command (CENTCOM) has expanded airstrikes against Iran. As geopolitical tensions escalated, the crypto market saw $350 million (about KRW 490 billion) in forced liquidations. Crypto Briefing reported the development, noting that growing U.S.-Iran tensions are increasing geopolitical risk and could further expand global economic volatility. Specific details, including the exact strike locations, timing, and which exchanges saw the largest liquidations, have not been confirmed.

The U.S. Central Command (CENTCOM) has expanded airstrikes against Iran. As geopolitical tensions escalated, the crypto market saw $350 million (about KRW 490 billion) in forced liquidations. Crypto Briefing reported the development, noting that growing U.S.-Iran tensions are increasing geopolitical risk and could further expand global economic volatility. Specific details, including the exact strike locations, timing, and which exchanges saw the largest liquidations, have not been confirmed.

Final negotiations over the Crypto Clarity Act currently underway in Washington, D.C., have entered the last stage of coordination over an ethics provision. Crypto Briefing reported that the ethics clause has become the key sticking point in the talks. The outlet said the provision could influence the future direction of digital asset regulation, market confidence, and legislative support. Specific details such as the outcome of the negotiations or the voting schedule have not yet been confirmed.

Final negotiations over the Crypto Clarity Act currently underway in Washington, D.C., have entered the last stage of coordination over an ethics provision. Crypto Briefing reported that the ethics clause has become the key sticking point in the talks. The outlet said the provision could influence the future direction of digital asset regulation, market confidence, and legislative support. Specific details such as the outcome of the negotiations or the voting schedule have not yet been confirmed.

Nasdaq-listed Chinese insurtech firm Zhibao Technology has signed a $154.7 million private investment in public equity (PIPE) deal to be settled with 2,380 BTC. Once completed, the investor group will gain the right to appoint the board and top management. CryptoSlate reported that on the 31st of last month, Zhibao Technology entered into an agreement to issue 442 million investment units to 10 investors at $0.35 per unit. Each investor will receive 44.2 million units and pay 238 BTC. The Bitcoin price was fixed at $65,000 per BTC. Each unit includes one Class A common share and one two-year warrant with an exercise price of $0.35. If all warrants are exercised, the total potential share issuance from the deal will reach 884 million shares. Upon closing, investors will nominate four of the five directors and appoint a new CEO and CFO. The four existing directors and the current CEO and CFO will resign. The deal is scheduled to close within 12 business days from the 31st of last month.

Nasdaq-listed Chinese insurtech firm Zhibao Technology has signed a $154.7 million private investment in public equity (PIPE) deal to be settled with 2,380 BTC. Once completed, the investor group will gain the right to appoint the board and top management. CryptoSlate reported that on the 31st of last month, Zhibao Technology entered into an agreement to issue 442 million investment units to 10 investors at $0.35 per unit. Each investor will receive 44.2 million units and pay 238 BTC. The Bitcoin price was fixed at $65,000 per BTC. Each unit includes one Class A common share and one two-year warrant with an exercise price of $0.35. If all warrants are exercised, the total potential share issuance from the deal will reach 884 million shares. Upon closing, investors will nominate four of the five directors and appoint a new CEO and CFO. The four existing directors and the current CEO and CFO will resign. The deal is scheduled to close within 12 business days from the 31st of last month.

Major Wall Street financial institutions participated in the Depository Trust & Clearing Corporation’s (DTCC) first real-time trade of tokenized assets based on blockchain. Crypto Briefing reported that major Wall Street firms were among the participants. The outlet described the transaction as an early real-world example of blockchain being integrated into traditional financial infrastructure. Specific details, including the participating institutions, transaction size, and exact timing, have not been confirmed.

Major Wall Street financial institutions participated in the Depository Trust & Clearing Corporation’s (DTCC) first real-time trade of tokenized assets based on blockchain. Crypto Briefing reported that major Wall Street firms were among the participants. The outlet described the transaction as an early real-world example of blockchain being integrated into traditional financial infrastructure. Specific details, including the participating institutions, transaction size, and exact timing, have not been confirmed.

While spot Bitcoin ETFs recorded net outflows of $61 million (about KRW 84.8 billion) over the past week, spot Ethereum ETFs saw net inflows of $27 million (about KRW 37.5 billion) during the same period. Crypto Briefing said this divergence in fund flows reflects changes in investor sentiment and risk management strategies. The outlet added that the split in direction between the two products could also affect market share dynamics among ETF issuers.

While spot Bitcoin ETFs recorded net outflows of $61 million (about KRW 84.8 billion) over the past week, spot Ethereum ETFs saw net inflows of $27 million (about KRW 37.5 billion) during the same period. Crypto Briefing said this divergence in fund flows reflects changes in investor sentiment and risk management strategies. The outlet added that the split in direction between the two products could also affect market share dynamics among ETF issuers.

The U.S. Securities and Exchange Commission (SEC) has decided to keep Nasdaq’s application to list Bitcoin options on hold, following a review request from CME Group. The Block reported that CME Group argues the product should be classified as a commodity option swap and therefore falls under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC), not the SEC. As a result of the SEC’s decision, the future of Nasdaq’s Bitcoin options listing will remain uncertain until the review of CME Group’s request is completed.

The U.S. Securities and Exchange Commission (SEC) has decided to keep Nasdaq’s application to list Bitcoin options on hold, following a review request from CME Group. The Block reported that CME Group argues the product should be classified as a commodity option swap and therefore falls under the exclusive jurisdiction of the Commodity Futures Trading Commission (CFTC), not the SEC. As a result of the SEC’s decision, the future of Nasdaq’s Bitcoin options listing will remain uncertain until the review of CME Group’s request is completed.

Russian police raided the office of a cryptocurrency exchange service in Moscow City’s commercial district. Authorities said the search was connected to a theft case involving 144 million rubles. Bits.media reported that Russian law enforcement searched the office of a crypto exchange service located in Federation Tower East in the Moscow City business complex. Police said they suspect the stolen funds passed through the exchange service and are currently tracing the related transactions.

Russian police raided the office of a cryptocurrency exchange service in Moscow City’s commercial district. Authorities said the search was connected to a theft case involving 144 million rubles. Bits.media reported that Russian law enforcement searched the office of a crypto exchange service located in Federation Tower East in the Moscow City business complex. Police said they suspect the stolen funds passed through the exchange service and are currently tracing the related transactions.

Spot XRP ETFs recorded net inflows of $14.86 million (about KRW 20.8 billion) last week, pushing cumulative net inflows above $1.51 billion (about KRW 2.114 trillion). According to SoSoValue, the inflows were recorded during the trading days from July 27 to 31, U.S. Eastern Time. Among individual products, Bitwise ETF XRP led weekly inflows with $10.15 million (about KRW 14.2 billion), bringing its cumulative net inflows to $511 million (about KRW 71.54 billion). Franklin Templeton’s ETF XRPZ followed with weekly net inflows of $4.7 million (about KRW 6.6 billion). XRPZ’s cumulative net inflows were tallied at $426 million (about KRW 59.64 billion). As of the reporting date, the total net asset value of spot XRP ETFs stood at $989 million (about KRW 138.46 billion), representing 1.49% of XRP’s total market capitalization.

Spot XRP ETFs recorded net inflows of $14.86 million (about KRW 20.8 billion) last week, pushing cumulative net inflows above $1.51 billion (about KRW 2.114 trillion). According to SoSoValue, the inflows were recorded during the trading days from July 27 to 31, U.S. Eastern Time. Among individual products, Bitwise ETF XRP led weekly inflows with $10.15 million (about KRW 14.2 billion), bringing its cumulative net inflows to $511 million (about KRW 71.54 billion). Franklin Templeton’s ETF XRPZ followed with weekly net inflows of $4.7 million (about KRW 6.6 billion). XRPZ’s cumulative net inflows were tallied at $426 million (about KRW 59.64 billion). As of the reporting date, the total net asset value of spot XRP ETFs stood at $989 million (about KRW 138.46 billion), representing 1.49% of XRP’s total market capitalization.

Binance announced that it will delist six tokens, including Across (ACX) and Hashflow (HFT), on August 17. Odaily reported Binance’s delisting plan. The specific reasons for the decision and the names of the other four tokens were not included in the announcement.

Binance announced that it will delist six tokens, including Across (ACX) and Hashflow (HFT), on August 17. Odaily reported Binance’s delisting plan. The specific reasons for the decision and the names of the other four tokens were not included in the announcement.