Bitcoin and ether retreat modestly after a hardware wallet exploit drains $114 million, spurring self-custody concerns and exchange inflows.
Bitcoin and ether edged lower as a fifth day of losses followed the theft of $114 million from Coldcard hardware wallets. The breach has shaken confidence in self-custody solutions, prompting some holders to move assets back to exchanges despite crypto’s long-term push for decentralized storage.
BTC fell 1.5% to $62,595, while ether declined nearly 2% to $1,842, levels both assets have revisited frequently in recent weeks. Derivatives markets showed mixed signals, with BTC futures open interest at a one-month high and options volatility steady, though call bets clustered around $68,000 and $70,000.
Analysts noted the hack’s broader impact on sentiment, with social media discussions highlighting losses among small holders and a reassessment of cold storage risks. The restrained price reaction contrasts with the scale of the exploit, suggesting lingering uncertainty rather than panic.