Zhao Changpeng Warns Coldcard Users Must Proactively Transfer Assets Due to Unfixable Legacy Wallet Vulnerabilities

Zhao Changpeng highlights that developer patches cannot remediate existing Coldcard wallets, forcing users to manually migrate assets to avoid security risks in self-custody models.

Woofun AI reports that Zhao Changpeng addressed the security vulnerabilities affecting Coldcard hardware wallets. He emphasized that while developers can patch software flaws, these fixes do not apply to wallets already generated, and users of air-gapped devices remain unreachable by remote updates. Consequently, he advised users to proactively transfer their assets to secure new wallets to mitigate hack risks. Zhao Changpeng reaffirmed his support for self-custody but noted that this model places the entire burden of security responsibility on individual users.