COLDCARD white hats transfer 52 BTC to Crypto Recovery Trust

Galaxy: Galaxy is a financial services firm specializing in digital assets, offering research, trading, and advisory services in the cryptocurrency sector. Its research team, including Alex Thorn, actively tracks and reports on Bitcoin-related security incidents and market developments. In this case, Galaxy provided public updates on the white-hat transfer of recovered COLDCARD exploit funds to a victim restitution trust. COLDCARD: COLDCARD is a series of air-gapped Bitcoin hardware wallets developed by Coinkite, emphasizing offline key management and user-controlled randomness for seed generation. Following a firmware vulnerability that enabled seed predictability, white-hat researchers linked to the COLDCARD ecosystem recovered portions of the exploited funds. The project has released corrected firmware versions to prevent similar issues in new setups. Alex Thorn: Alex Thorn is head of firmwide research at Galaxy, where he analyzes Bitcoin market trends and crypto security events. He publicly documented the white-hat movement of recovered Bitcoin from the COLDCARD exploit into a dedicated Crypto Recovery Trust address. Thorn regularly shares on-chain observations and industry context via social media to highlight recovery actions and broader developments. Research Tracking: Crypto research teams monitor on-chain movements from exploit incidents in real time and report details to support community awareness and victim restitution efforts. Security Response: White-hat researchers collaborate with legal advisors to secure and consolidate funds from hardware wallet exploits before they can be further targeted by malicious actors. Recovery Mechanism: Dedicated Wyoming statutory trusts are being utilized to manage and return recovered cryptocurrency assets to identified victims in a legally structured manner.