Coldcard class action over $140 million: what it means for owners

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.A proposed class action against Coldcard maker Coinkite is before a court in Ontario: a firmware flaw allegedly made recovery phrases predictable, and the claim puts the Bitcoin drained as a result at more than $140 million. What owners of an affected device should check and document now.A proposed class action against Coinkite, the Canadian maker of the Coldcard hardware wallet, has been before the Ontario Superior Court of Justice since 11 September 2026. The claim centres on a flaw in a firmware release from March 2021 that allegedly made the recovery phrases of affected devices predictable, and puts the Bitcoin drained as a result at more than $140 million. None of this has been proven, and the case has not been certified as a class action either. If you own one of these devices, a separate question matters more than the lawsuit: was your recovery phrase created before August 2026? If so, your balance does not depend on the court. It depends on when you move it. What the cla...