Hackers drained $116 million from Coldcard bitcoin wallets. Will owners sue Coinkite before Aug 21?
72% of users predicted YES — the community missed this one. 25 predictions cast.
Owners of Coldcard hardware wallets who lost bitcoin to a firmware exploit had not filed suit against manufacturer Coinkite by August 21, 2026, even though roughly $116 million (about 1,816 bitcoin) had been drained from more than 5,200 wallet addresses since late July. The vulnerability, present in Coldcard firmware since 2021, caused devices to bypass their hardware randomness chip during key generation, making some seed phrases predictable to attackers.
Attorney Thomas Braziel of 117 Partners said he was studying potential product-liability and class-action claims and was gathering information from victims internationally, while a Brazilian user reported filing a police complaint rather than a civil lawsuit. Coinkite has assisted affected users but has not offered compensation, and it reversed a policy of automatically deleting customer records, citing anticipated legal obligations. Legal experts were divided on the company's liability, with some seeing a credible basis for negligence claims and others doubting it.
Community voting leaned heavily toward a lawsuit being filed, with 72 percent predicting YES, but no suit had materialized by the resolution date, meaning the community majority was wrong.