Bitcoin news and bitcoin analysis update. Today I cover the reported Coldcard wallet sweeps, the firmware 4.x entropy failure blamed for predictable seed generation, CoinKite’s response, emergency wallet migration, phishing attacks, and the volunteers helping affected users protect their bitcoin. I also look at how AI-assisted code review could change security standards for Bitcoin technology, hardware wallets, and open-source software far beyond Bitcoin.

Topics for today:

Why I recommended Coldcard and why I was wrong
Reported Coldcard wallet sweeps beginning July 30
Coldcard firmware 4.x and reduced seed entropy
How attackers searched predictable Bitcoin seeds
Why air-gapped wallets still lost funds
Coldcard models and firmware versions reportedly affected
Passphrase protection and later attack waves
Reports of replacement firmware bricking devices
Moving bitcoin without making panic-driven mistakes
Coldcard phishing emails and fake wallet audits
BTC Sessions, Rob Hamilton, and volunteer rescue efforts
AI code audits and the new security standard
What this crisis means for Bitcoin self-custody

Never enter your seed phrase into a website, support form, emergency tool, or unsolicited message. Hardware wallet manufacturers do not need your seed phrase to provide legitimate support.

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