Where the panel landed
The panel discussed the severity of the Cold Card hack, with Victoria Jones expressing shock and concern for affected users, and Robert Allen emphasizing the need for multi-sig solutions and increased security audits.
What they were watching
The Cold Card hack, record Bitcoin ETF outflows, and the potential for a Bitcoin BIP 110 fork.
Cold Card Hack
A faulty random number generator in the Cold Card hardware wallet resulted in a significant Bitcoin theft, highlighting the risks of unaudited and closed-source software.
Bitcoin ETF Outflows
Record Bitcoin ETF outflows coincided with Bitcoin's lowest price since 2024, prompting discussion about forced selling and potential market bottom.
Potential Bitcoin Fork (BIP 110)
Discussion around a potential Bitcoin soft fork (BIP 110) and its implications for the Bitcoin community.
If Cold Card was seen as the most trustworthy, how do people who aren't technically savvy know what to trust these days.— Victoria Jones
You should never be holding 90% of your stack where there is a single point of failure.— Robert Allen
Story of the Week
Cold Card Hack Exposes Hardware Wallet Vulnerabilities
A critical vulnerability in the Cold Card hardware wallet led to the theft of approximately $130 million in Bitcoin, raising concerns about the security of hardware wallets and the importance of open-source, audited software.
If Cold Card was seen as the most trustworthy, how do people who aren't technically savvy know what to trust these days.— Victoria Jones