Coldcard class action over $140 million: what it means for owners

A proposed class action against Coinkite, the Canadian maker of the Coldcard hardware wallet, has been before the Ontario Superior Court of Justice since 11 September 2026. The claim centres on a flaw in a firmware release from March 2021 that allegedly made the recovery phrases of affected devices predictable, and puts the Bitcoin drained as a result at more than $140 million. None of this has been proven, and the case has not been certified as a class action either.