Security alert · Coldcard hardware wallet

Move your Bitcoin off any Coldcard seed created since March 2021 — today.

A firmware bug made affected Coldcards generate seed phrases with a predictable software RNG instead of the chip's hardware RNG. Attackers have already reconstructed the private keys offline and drained roughly 1,719 BTC across three confirmed waves, without ever touching a device — and a suspected fourth wave is still being traced. Updating the firmware does not repair a seed that already exists. If your seed was generated on a Coldcard on or after March 2021, treat it as compromised: move the coins now to a new seed on patched firmware, to a different hardware wallet, or — if you need somewhere immediately — to an exchange you already use, and sort out longer-term custody after the coins are safe.

Watch for follow-on scams. Events like this draw fake “migration” and “wallet checker” sites. Coinkite will never ask for your seed words, and no legitimate tool needs them. Type coldcard.com in by hand rather than following links from social media or email.

Am I affected? Version list and migration steps

The flaw cut seed randomness from the intended 128 bits to roughly 40 bits on Mk2/Mk3 and 72 bits on Mk4/Mk5/Q. Your seed is at risk if you generated it on the device while running:

  • Mk2 / Mk3 — 4.0.1 through 4.1.9
  • Mk4 / Mk5 — anything before 5.6.0 (standard) or 6.6.0X (Edge)
  • Q — anything before 1.5.0Q (standard) or 6.6.0QX (Edge)

Two exceptions. Coinkite states seeds are not at risk from this bug if you supplied at least 50 fair, independent rolls through Add Dice Rolls and those rolls were never recorded or exposed. Seeds generated before firmware 4.0.1 (March 2021) are also outside the affected range. If you are not certain which applies to you, assume you are affected and move the coins.

If a sweep is already under way. Galaxy Research reports that some fourth-wave transactions have replace-by-fee enabled. If you find an unconfirmed transaction spending from your address sitting in the mempool, you may have a short window to broadcast your own higher-fee transaction and move the coins before the attacker's confirms. Galaxy also counts at least 15 separate attackers working through the remaining vulnerable addresses, so assume the sweeping is still going on.

Migration. Update the firmware, generate a brand-new seed, verify the backup and a receive address, send a test transaction, then move the remaining funds. Keep the old backup until the migration is confirmed.

Independent tracing by Galaxy Research attributes roughly 1,719 BTC (about $111M) drained across three confirmed waves, as of Aug 7, 2026 — up from 1,596 BTC on Aug 4, when Galaxy last put the address count at about 7,300. Counting a suspected but still unconfirmed fourth wave, Galaxy puts the possible total near 2,055 BTC (~$130M) across more than 7,700 addresses. Figures were still rising at the time of writing. Bitcoin Lending Intel is not affiliated with Coinkite and this is not financial advice. Verify firmware versions and guidance against Coinkite's own advisory before acting.
Lender review Higher relative risk CeFi · Native BTC Updated 16 Jul 2026

YouHodler crypto loan review

A Switzerland-based platform offering very high-LTV, short-term crypto loans with a low $100 minimum — but a fee-based cost structure and a fully custodial model that need unpacking. Here’s the honest picture.

Headline cost0.055%/day (≈20%/yr)
Max initial LTVup to 90% (97% on some)
LiquidationPrice Down Limit (per loan)
Term1–364 days
Fees0.055%/day loan fee (no upfront fee)
CollateralNative BTC (custodial)
CustodyCustodial
Minimum loan$100

Fee model checked against YouHodler's Loan daily fees help article on 9 August 2026. YouHodler does not publish the daily rate — it states the fee is shown on the loan opening form — so the 0.055%/day figure below is indicative rather than a published rate. Confirm the quote you are offered before borrowing.

Quick verdict YouHodler stands out for very high LTV (up to 90%, sometimes 97%) and a tiny $100 minimum — but it’s a fundamentally different, riskier product: short-term, fully custodial, and priced with a flat daily loan fee that adds up fast on longer holds. Compare the all-in cost carefully and treat the high-LTV options with caution.

How YouHodler works

YouHodler is a Switzerland-based fintech (a licensed VASP in several EU countries, operating since 2018) offering short-term crypto-backed loans across roughly 20 assets. Unlike the 12-month lenders here, terms run from 1 to 364 days, and the product is built around high LTVs and quick liquidity. Your collateral is held custodially by YouHodler. The minimum loan is just $100.

Rates & fees

YouHodler now prices loans with a flat daily loan fee of 0.055% of the borrowed amount, charged every day from the day the loan opens until it closes and independent of the loan term. That works out to roughly 20% on an annualized basis if a loan is held for a full year, though most YouHodler loans are short-term. This replaced the platform’s former 1.7–7.5% upfront loan fee. Separate fees apply to optional features (Increase LTV ~1.5%, Extend PDL ~1.5%, Close Now ~1%). Always check the all-in number in YouHodler’s calculator before borrowing.

LTV & liquidation

YouHodler offers some of the highest LTVs in the market — up to 90%, and 97% on certain configurations. Instead of a fixed liquidation LTV, each loan has a ‘Price Down Limit’ (PDL): a specific collateral price at which YouHodler closes the loan by selling the collateral. At very high LTVs the PDL sits close to the current price, so a small drop can trigger liquidation — high LTV here means high liquidation risk.

Custody & safety — why we rate YouHodler Higher relative risk

Source: YouHodler Price Down Limit (official) ↗

YouHodler is an established Swiss-based VASP (operating since 2018), which counts in its favour. But collateral is fully custodial, the platform offers aggressive high-LTV products (up to 90–97%) and additional leveraged features, and it publishes less about rehypothecation and segregation than the most transparent lenders. We rate it Higher — the combination of very high LTV (up to 90–97%), a fully custodial model, limited public disclosure on rehypothecation and segregation, and leveraged add-on products places it in our highest risk tier among listed lenders. It is widely used and long-running, but treat the high-LTV options with particular caution. See the risk methodology.

What a $100,000 YouHodler loan costs

Loan amount$100,000
Collateral at 50% LTV~$200,000 BTC
Daily loan fee (0.055%/day)~$55/day
Approx. cost if held 1 year (365 d)~$20,075

YouHodler loans are short-term, so a typical loan is held for days or weeks — over which the daily fee is a small fraction of the annualized figure above. The cost scales directly with how long you hold the loan. Figures illustrative.

Pros & cons

Strengths

  • Very high LTV available (up to 90%)
  • Tiny $100 minimum
  • Fast, flexible short terms
  • Established Swiss-based VASP (since 2018)
  • ~20 assets accepted

Trade-offs

  • Daily loan fee (0.055%/day ≈ 20%/yr) — cost grows the longer you hold
  • Fully custodial
  • Very high-LTV options carry high liquidation risk (PDL near price)
  • Short terms (≤364 days), not a long-term loan
  • Less disclosure on rehypothecation/segregation

Who YouHodler is best for

YouHodler suits borrowers who want a small or short-term loan, or who specifically need higher LTV than conservative lenders allow — and who understand the fee structure and liquidation risk. For a straightforward 12-month loan at a lower all-in cost, compare Lantern (8%), Strike or Ledn.

FAQ

What does a YouHodler loan cost?

A flat daily loan fee of 0.055% of the borrowed amount, charged each day from open to close and independent of loan term — about 20% annualized if held a full year. This replaced the former 1.7–7.5% upfront fee. Check the all-in figure in their calculator before borrowing.

What LTV does YouHodler offer?

Up to 90%, and 97% on some configurations — among the highest available. Higher LTV means a much higher chance of liquidation.

How does liquidation work at YouHodler?

Each loan has a 'Price Down Limit' — a collateral price at which YouHodler sells your collateral to close the loan. At high LTV that price sits close to the current price.

Is YouHodler safe?

It is an established Swiss-based VASP operating since 2018, but it is fully custodial with aggressive high-LTV products and less disclosure than the most transparent lenders. We rate it Higher relative risk — our highest tier among listed lenders. No loan is risk-free.

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