Security AlertMedium
Coinkite faces proposed class action after US$140-million bitcoin hack
Oct 24, 2026 · Summarized by Fundy Tech from 7 sources
The 30-second version
Toronto bitcoin wallet maker Coinkite is facing a proposed class action over a hack that allegedly stole more than US$140-million in bitcoin. The company says it will publish a full postmortem soon.
Key points
- Lawsuit was filed in Ontario Superior Court last month.
- Claims include negligence and breach of contract.
- Coldcard users may need to generate a new seed phrase and move funds.
Why it matters
Crypto users should pay close attention to wallet updates and recovery steps. If a device needs a new seed phrase, delaying that process could leave funds at risk.
Who’s affected: Coinkite Coldcard users
Original reporting
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