CZ chimes in on Coldcard hack: "Software will always have bugs, it's how the team handles them that matters" — just as attackers' third wave pushes the total haul past 1,367 BTC (~$88.6M).

What happened

Binance founder Changpeng Zhao has weighed in on the apparent attack targeting Coldcard wallet users, saying software will always have vulnerabilities and that what matters is how the team behind it responds. CZ made the remark on X while highlighting that Trust Wallet faced a similar issue years ago. A flawed pseudo-random number generator once led to roughly $12 million in user losses, he noted, adding that the team ultimately covered those losses.

Why it matters for the market

The comment arrives as investigators and users track a third wave of the suspected address-generation attack. In the latest move, around 207.7294 BTC was transferred again. Public data now points to roughly 1,367.05 BTC moved across about 4,585 addresses in connection with the Coldcard incident.

At current prices, the total haul is valued at approximately $88.6 million, underscoring the scale of the breach and the urgency for wallet developers to communicate clearly with affected users.

What traders should watch

For markets, the news adds a layer of caution around crypto security sentiment. While the direct effect on major token prices may be limited, the episode can fuel short-term volatility in altcoin trading and reinforce risk-off positioning among speculative intraday traders, especially if further waves of fund movement are detected.