Bitcoin Active Addresses Top 1 Million in a Day After Coldcard Hack
Summary
- An analysis found that Bitcoin active addresses surged as investor anxiety spread after the Coldcard hack.
- Bitcoin's daily active addresses jumped from about 645,000 to nearly 1 million in just one day.
- Long-term holders are moving assets to safer locations amid concerns over a chain of Bitcoin thefts tied to Coldcard's random number generation (entropy) flaw.
Forecast Trend Report by Period
Bitcoin active addresses surged as investor anxiety spread after the recent hack involving hardware wallet maker Coldcard.
Julio Moreno, CryptoQuant's head of research, wrote on X on Aug. 1 that people appeared to have moved large amounts of Bitcoin while exercising extreme caution after the Coldcard hack.
Data he shared showed Bitcoin's daily active addresses jumped from about 645,000 on July 30 to nearly 1 million on July 31. That was the highest daily reading since Dec. 10, 2024.
The large movement of funds appears to be tied to a chain of Bitcoin thefts exploiting a flaw in Coldcard's random number generation, or entropy. The issue raised concerns that single-signature addresses created after a firmware update in March 2021 were exposed to theft risk, prompting long-term holders to move assets to safer locations.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀