Bitcoin whales add 19,610 BTC as small holders sell
Santiment said wallets with 10 BTC to 10,000 BTC have built positions since July 29, while sub-0.01 BTC balances fell 0.55% after a Coldcard wallet flaw shook confidence.
Wallets holding between 10 BTC and 10,000 BTC accumulated 19,610 BTC after July 29, according to Santiment, while holdings in wallets with less than 0.01 BTC fell 0.55% over the same period. The split followed exploitation of a critical vulnerability in Coldcard hardware wallets that began on July 30 and resulted in more than 1,367 BTC in thefts, valued at roughly $87 million to $89 million at the time. The flaw stemmed from a firmware update pushed in March 2021, primarily affecting the Mk3 line, with lesser impact on the Mk4, Mk5 and Q models. Coinkite issued hotfix firmware updates between July 31 and Aug. 1, but seeds generated on vulnerable firmware remain at risk unless users migrate them entirely.
- whales: Large crypto holders whose buying or selling can meaningfully affect market supply.
- hardware wallets: Physical devices designed to store crypto private keys offline for added security.
- firmware: Software installed on a device that controls its core functions and can introduce security risks if flawed.