Coldcard exploit drives record OKX inflows as users rethink self custody

OKX has reported record inflows to its centralized exchange following the Coldcard hardware wallet exploit, as the company says users are increasingly prioritizing managed custody after one of the largest known Bitcoin wallet security incidents. Summary OKX says it has recorded record exchange inflows after the Coldcard hardware wallet exploit prompted some users to move assets from self custody. The exchange said it prevented $26.3 million in scam related losses and protected more than $1.1 billion in customer assets during the first half of 2026. Galaxy Research has confirmed thefts totaling 1,596 Bitcoin across three attack waves, with losses potentially reaching 2,055 Bitcoin if a fourth wave is verified. The Coldcard flaw has renewed calls from security experts for independent testing of hardware wallet firmware and seed generation. According to The Block, OKX Chief Compliance Officer Jonathan Brockmeier said customer behavior has changed noticeably in the wake of the Coldcard attacks, with the exchange recording unusually high inflows as users move assets away from self-custody. “We’re seeing record levels of inflows now to centralized exchanges post-Coldcard,” Brockmeier tol...