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Bitcoin traded above $63,000 on Sunday,
up slightly over the previous 24 hours amid mounting losses related to the Coldcard wallet vulnerability and continued Bitcoin selling by Trump Media & Technology Group.
According to Galaxy Research, losses related to the Coldcard hardware wallet vulnerability have reached 1,367 Bitcoin, or nearly $89 million. At 12:45 PM, Bitcoin was trading at $63,262.4, up 0.35%.
During the third wave of attacks from Friday afternoon to Saturday morning, approximately 208 BTC were withdrawn from 1,912 addresses. Across all three waves, funds were withdrawn from 4,585 addresses.
The first attack on July 30th claimed 1,083 BTC from 1,196 wallets in just 41 minutes. The latest transactions were directed to addresses with smaller balances and used a different fundraising method, suggesting either a change in tactics by the original attacker or the emergence of a new operator using the same vulnerable keys.
The vulnerability arose in firmware released in March 2021: when generating wallet seed phrases, a software random number generator, which produces predictable results, was used instead of a hardware random number generator. Attackers can reproduce possible private keys offline, without physical access to the wallets.
Corporate sales have become an additional source of supply in the market. According to the analytics account Lookonchain, Trump Media & Technology Group Corp (NASDAQ:DJT) sold another 2,628 BTC worth approximately $165 million.
The company reportedly sold a total of 7,281 BTC after initially purchasing 11,542 coins for approximately $1.37 billion, representing an average purchase price of $118,522 per coin.
The remaining 4,260.73 BTC are pledged as collateral for convertible notes through May 2028. Lookonchain estimates Trump Media's realized and unrealized losses on Bitcoin to be approximately $555 million.
Strategy Inc (NASDAQ:MSTR), the largest corporate holder of Bitcoin, maintained its August dividend on STRC preferred shares at 12%. The company previously raised the dividend when STRC shares were trading well below their par value of $100.
STRC is currently trading around $89.46, having recovered from a June low near $71 following the July dividend hike and some stabilization in Bitcoin.
Beyond corporate treasuries, Bitcoin ownership is increasingly shifting to exchange-traded funds, financial institutions, and governments. Spot Bitcoin ETFs have previously seen inflows of over $220 million after a period of steady outflows.
Growing institutional presence could provide a long-term source of demand, but concerns about wallet security and corporate selling could limit short-term growth momentum.