CryptoQuant: 83% of 1,432 BTC from Coldcard Hack Remains Dormant in Top Five Wallets

CryptoQuant reported that 1,367 BTC of the 1,432 BTC associated with the Coldcard attack remains dormant in 311 attacker addresses, with 83% of the funds concentrated in the top five wallets and only 65 BTC reaching mixers.

On-chain data analysis platform CryptoQuant shared the current distribution of where Bitcoin is held following the Coldcard hack. The analysis revealed that the majority of the assets reported stolen can still be traced in addresses associated with the attackers.

According to the data, 1,367 BTC out of a total of 1,432 BTC remains untouched in 311 attacker addresses. While 83% of this balance is concentrated in the top five wallets, the amount moved to mixer services used to obfuscate transaction history has been limited to 65 BTC so far. The distribution shows that the funds are largely traceable on-chain.

Most of the Stolen Bitcoin is Concentrated in Five Wallets

In CryptoQuant’s address-based distribution chart, the largest wallet is seen holding 562.02 BTC, accounting for 40.97% of the total balance, while the second wallet holds 398.48 BTC, accounting for 29.05%. The fact that the first two addresses alone hold a share of approximately 70% reveals the scale of the fund concentration.

The time series chart shows that the total balance remained at approximately the same level throughout August following the activity at the end of July, while the high net flow was seen in the initial period. However, this data alone does not confirm that the funds have not reached exchanges or been cashed out; it only reveals the on-chain status of the balance in the relevant addresses.

The CryptoQuant post did not include details on how the Coldcard attack was carried out, when it occurred, or the individuals behind it. The current tracking covers the distribution of stolen BTC across addresses and mixer flow.