Replies (42)
🚨 NEW SWEEP THREAT 🚨
We need eyes on this; plz repost. 🤙
exist270
#ColdCard funds are getting swept WHILE THE #BITCOIN / #BTC TRANSACTIONS ARE STILL IN THE MEMPOOL.
The attacker is clearly watching broadcasts, so unless users are signing transactions straight from a miner, this shit is gonna keep getting worse until ALL at-risk funds have been drained. 🫠
Absolute fucking shambles. 🤙
https://x.com/i/status/2085325832285757680
View quoted note →
Odell is going to catch more scrutiny than most because of his close relationship with the company. I'd say scrutiny is warranted, not necessarily a public lynching without evidence of wrong doing, but a real hard look before his name can be cleared or evidence comes to light for which he should be vilified.
Coinkite and NVK's recklessness is just a symptom, the real disease is regulatory capture and cronyism in the BTC space, enabled by figures like Adam Back and Blockstream.
Yea but they had the reach and propagated the message that Coldcard was legit. They should have done their due diligence especially if they heard reports before this went down. Less blame for sure but not blameless imo. At the end of the day lots of people got fucked by negligence.
May the truth be revealed.
You're out here defending nostr:nprofile1qqsqfjg4mth7uwp307nng3z2em3ep2pxnljczzezg8j7dhf58ha7ejgpp4mhxue69uhkummn9ekx7mqprpmhxue69uhhqun9d45h2mfwwpexjmtpdshxuet5hgfg9wand he's lawyered up or something gone radio silent and pleading the 5th. Lot of people recommended coldcards, myself included, Odell is a special case because of his perverse incentives, prior knowledge of bugs he didn't share with his audience, and of course his close personal relationship with NVK. Birds of a feather. I got a sour taste about him from the op return debate when I could tell he was largely trying to avoid the topic and take a position that wouldn't alienate his industry friends or pleb audience. Dude i's slimy
I disagree, to me it seems like he made the most honest decisions he could with the information he had at the time. I'd never fault someone for not having a strong opinion on op return, some might say that's just being humble
IIRC ledger or trezor used quantum lasers or some shit to try to break it... and just were barking up the wrong tree the whole time.
100% agree
I don’t know, I think it’s fair question why the top two investors in a company that make what was supposed to be the most secure device for storing bitcoin never once required the company that they invested in and promoted for years to submit to regular security audits, independent code reviews at their own expense, and the same industry certifications their competitors all had.
Seems obvious in hindsight, consumers also should demand this, and pretty tough to stay on top of everything in a big portfolio of companies especially with a small stake. Like faulting a stock investor if Nvidia does a bad thing
To me it's not about "throwing them under the bus", it's more about losing trust in them, in the whole bitcoin space in general.
Non-technical plebs, after time and effort, have come to deem trustworthy some people (influencers, devs, whatever), and these pleb must trust someone at some point (we can't expect them to verify code).
The fact that almost all unanimously were sponsoring or talking about coldcard as the best of hardware wallet, makes a pleb scared as shit, like "if basically everybody in the btc space said coldcard was the best wallet, and it turned out it was the worst of all, how can I trust now?"
I think this is the worst outcome of this cc disaster 🥲
Yep it's a failure at so many levels
Yeah they are all men. They can handle it. Maybe we are being too harsh. Idk. But to the plebs who lost it all this is catastrophic. I’m ok hurting some feelings to make sure this doesn’t happen again.
ALL-CAPS BULLSHIT.
If they couldn’t handle that responsibility, they don’t have a right to put this headline on their website.
Change Podcaster to INFLUENCERS and this note is sold.
people that profited from coldcard and were complacent in the aggressiveness to other open source projects need to be scrutinized. grow a pair of balls
You were too busy building solana and ethereum apps.
Inside job cannot be ruled out at this point.
Agreed, there were many failures here. NVK was clearly the main one. But Investors and influencers can also be bad at their jobs by not doing their DD. I would not say there is enough to point the finger at them being in on it like some claim. But I belive its appropriate for the community to question the fuck out of them given the responsibility they took on and failed at.
They are the heavy hitters, and many like myself went with it cause all the og’s did, but it did kinda bite us. At least now I know 100% all about dice rolls now. And I don’t hold it against them, very sloppy actions from coldcard though, but then again I just found out he’s a Jew so what can you expect?
Odell owned trusting without verifying, and he certainly deserves to he held accountable for his poor judgment, but he also apologized earnestly, and should be forgiven. That takes character and is very difficult, to set pride aside and take it on the chin.
He also probably owes NVK an apology for betraying his trust and outing him as aware of false/pseudo entropy vulnerability right after it was shipped, but (obviously) in hindsight, even as Odell meant it for evil (bragging about his guide), God meant it for good (revealing NVK's knowledge about the fraud).
Odell should be reconciled to the plebs over the coming months and years, in my opinion.
His investment company will likely catch some form of financial liability in addition to losing their entire exit opportunity with Coinkite.
God is good at justice. We are crummy at evil.
Part of the reason that I don't want to jump on the outrage bandwagon about those guys - aside from the fact that I have learned so much from them - is that I can totally relate to their negligence.
If it hadn't been for a shipping delay from Coinkite I would have set up ppl close to me on coldcards without having done my due diligence. I researched a lot, and was familiar with all the steps, but when it came down to it I would have been recommending to people - people that trust me -something that I had not fully verified myself.
The podcasters got paid for it? Yes, they did. But I have also been in work situations that I did sincerely but without completely thinking through the ramifications and which now make me wince. If there were some kind of blow up about it, there's not much I could say besides sorry.
alot of the lynchmob addicts attacking other people who were caught off guard like everyone else, will never admit they recommended coldcards to their friends, but give themselves a pass, while loving how powerful they feel inside on the attack train.
Yes, so true!
Especially this line:
"if basically everybody in the btc space said coldcard was the best wallet, and it turned out it was the worst of all, how can I trust now?"
and there are some influeners promoting self custody with Jade Blockstream.
Seen.
Seen.
Seen
Seen.
Seen.
Seen.
Seen.
Everyone have responsibilities , let’s do better together in the future !
Agree ☝️
Guy is ok but Odell is investor and BTCsessions took sponsorship money from Coinkite.
financial benefits comes from responsibility, there's no way to dismiss that
Yes. Accepting sponsorship from a company/product you recommend and believe to be the best is not the same as being aware of a backdoor and not doing anything about it.
It's always easy to point fingers, notice red flags and connect dots after the fact about who should have done what, and still not be diligent in things that haven't become crises yet.
Yes agreed. Let’s have some mercy - perspective. It was ‘well known’ that coldcard ‘is the best’.
Can’t blame the podcasters for promoting or taking sponsorship money.
View quoted note →I was busy contributing my own feature to ColdCard, the RNG part was not on my radar at all when looking into this until the word broke of it. I did verify the hotfix generates non-deterministic entropy now, so upgraded ColdCards are actually safe now.
An org chooses a risk posture based on level of vetting. Strict requirements, less (arguably short term) upside less risk, loose requirements, the inverse. Bitcoin technology, and specifically cold storage solutions, should lean low time preference: rejecting long term risk
Well said. Accountability and teamwork go a long way toward building a better future.
