Casa CEO Nick Neuman: 233k BTC Moved To Safety After Coldcard Exploit Proves Self-Custody Resilience
Bitcoin Magazine Casa CEO Nick Neuman: 233k BTC Moved To Safety After Coldcard Exploit Proves Self-Custody Resilience Casa customer data indicates part of the 233k BTC flow came from single-key Ledger and Trezor users shifting to multisig and from multisig users removing Coldcard devices after the
Source: Bitcoin Magazine
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DW NOTE
The industry counted 233,000 BTC moving out of long-term holder wallets after the Coldcard exploit — then called it proof that self-custody works. That's definitional confusion. Tens of thousands of coins fleeing cold storage after a firmware flaw isn't resilience, it's flight. The theft itself was between 1,700 and 2,100 BTC, traced to a March 2021 entropy bug. What happened afterward was holders scrambling to rekey. Neuman is describing a bank run and calling it strength.