BlockBeats reported on August 2nd that Eric Balchunas, senior ETF analyst at Bloomberg, commented on the Coldcard wallet security incident, stating, "I just learned that Coldcard only has 5 employees. For such a significant company, that's an incredibly low number. Would you be willing to use a bank with only 5 employees to store your life savings? Perhaps this is a characteristic of the cryptocurrency space, but to me, it's clearly a warning sign."

Balchunas further stated that, in comparison, institutions with larger teams like Coinbase and Ledger may have an advantage in terms of security investment and operational capabilities, even if users incur higher transaction costs. Bitcoin ETFs offer another option: investors can benefit from the security provided by large, professional, and regulated financial institutions, while also enjoying lower management fees.

As previously reported, the Bitcoin hardware wallet Coldcard was attacked, with the stolen funds now totaling 1367.05 BTC, worth approximately $88.6 million, involving 4585 addresses. Alex Thorn, head of research at Galaxy, stated that the attack is still ongoing, and users who have not yet migrated their funds should immediately transfer their assets out of addresses generated by Coldcard.