Coinkite Warns Coldcard Mk3 Users Over Potential Seed Risk as $38M BTC Drain Investigated

Coinkite has issued a warning to Coldcard Mk3 users after the company identified a potential seed-generation risk, urging affected owners to migrate funds. The development comes amid separate reports that experts are examining an unexplained Bitcoin wallet drain involving a sweep of 594 BTC, reported to be worth about $38 million ^{[1] [2]}.

Crypto Briefing reported that the warning follows a firmware RNG (random number generator) security concern highlighted by Coinkite, noting the importance of robust RNGs for hardware wallet security and seed generation. Other coverage similarly frames the cause of the reported 594 BTC sweep as still unconfirmed while the incident is investigated ^{[3] [4]}.

Coinkite’s Coldcard Mk3 alert instructs users to move funds in response to a potential seed-generation issue, while external experts continue to examine the reported 594 BTC sweep ^{[1] [3]}.