A sophisticated attack drained **over 1,000 BTC (worth ~$70 million)** from 1,196 Coldcard hardware wallets in just 41 minutes on July 30, 2026. The theft didn't involve physical access or malware – instead, attackers exploited a **critical firmware flaw** that allowed them to reconstruct private keys offline.

## The Vulnerability: Weak Seed Generation

Coldcard wallets are designed to generate seed phrases using a dedicated hardware randomness generator. However, an internal build setting skipped this generator, and a supporting library only checked if the setting existed, not if it was enabled. This caused key generation to fall back to a basic software substitute seeded from the chip's serial number and clock registers.

This reduced the possible key space from astronomically large to a **computationally enumerable range**. For Mk4, Q, and Mk5 models, attackers could brute-force through roughly **4 billion possibilities** – a trivial task for modern computers.

## The Attack: Systematic Enumeration

The attacker generated candidate seeds on their own hardware, derived addresses, and checked them against the public blockchain. This process ran entirely on the attacker's machine, meaning victims' devices were never involved and could be powered off in safes.

Galaxy Research's analysis revealed the attack swept funds across **three address formats** (native segwit, older standards), indicating a systematic scanner rather than targeted theft. The funds now sit in four addresses and remain unmoved.

## The Aftermath: Uncertainty and Ongoing Risk

**Coinkite** (Coldcard's maker) initially warned Mk3 owners, but **Block's report** also implicates Mk2, Mk4, Q, and Mk5. Owners cannot easily determine if their seeds were generated on vulnerable firmware, leaving many in limbo.

Investigators found a crucial mistake: the attacker used a **paid account at a blockchain data provider**, whose logs matched the suspicious queries with "extraordinary specificity." This information has been passed to authorities.

## The Bigger Picture: Cold Storage Isn't Bulletproof

This incident challenges the core promise of hardware wallets – that keys are unguessable. As computational power grows, even supposedly secure devices can be compromised without physical access. The attack underscores the need for **rigorous firmware auditing** and **post-quantum cryptography** to future-proof digital assets.

For now, affected users are urged to **move their funds** to wallets with freshly generated seeds, as further waves of attacks are likely.

Galaxy Research said weak seed generation let an attacker recreate likely private keys offline, sweep more than 1,000 BTC from nearly 1,200 wallets and continue searching without ever accessing the devices.

Coldcard Cold Wallet Heist: $70M Stolen Without Touching Devices – Here's How

Cryptocurrencies like **Bitcoin** have evolved from a novelty to a significant force on Wall Street. As the market matures, **stablecoins** have emerged as a potential bridge between traditional finance and the crypto world. The European Central Bank (ECB) has recently issued a warning about stablecoins, raising questions about the future of digital assets. Here's what you need to know.

## The Rise of Stablecoins

Stablecoins are designed to maintain a stable value by being pegged to assets like fiat currencies or precious metals. Examples include **Tether (USDT)**, linked to the U.S. dollar, and **Tether Gold (XAUT)**, backed by gold. These coins aim to combine the benefits of cryptocurrencies—such as decentralization and low transaction costs—with the stability of traditional assets.

## ECB's Warning

The ECB has cautioned that stablecoins pose a significant threat to banks and the financial system. If customers shift their funds to stablecoins, it could drain reserves from banks, making them less stable and potentially less profitable. This warning highlights the disruptive potential of stablecoins, which could bypass traditional banking intermediaries.

## The Digital Euro Initiative

In response, the ECB is developing a **digital euro**, a central bank digital currency (CBDC) that would be backed by the traditional banking system. This move aims to provide a regulated alternative to private stablecoins, ensuring that the banking system remains relevant in the digital age.

## Implications for Crypto Investors

For investors, the rise of stablecoins and the ECB's warning have several implications:

- **Risk**: Stablecoins, despite their name, are not risk-free. They depend on the backing assets and the trustworthiness of the issuer.
- **Evolution**: The crypto market is evolving, and older cryptocurrencies like Bitcoin may face competition from more stable alternatives.
- **Regulation**: Increased regulatory scrutiny could slow the growth of stablecoins but may also legitimize them in the long run.

## The Future of Crypto

The ECB's warning underscores the tension between innovation and regulation. While stablecoins offer benefits, they also challenge the existing financial order. The development of a digital euro suggests that traditional institutions are adapting to the crypto revolution, potentially leading to a hybrid system where both coexist.

As the industry matures, investors should stay informed about these developments. The shift from speculative cryptocurrencies to asset-backed stablecoins could reshape the market, offering both risks and opportunities.

Are banks looking to protect their industry position, or is there a real risk that investors should be worried about?

ECB's Stablecoin Warning: A Threat to Banks or a Boon for Crypto?

The short answer: **stuck**. As of late July 2026, the Digital Asset Market Clarity Act (H.R. 3633) has cleared the House and a Senate committee, but it still has no floor vote, no cloture motion, and no date on the calendar.

Senate Majority Leader **John Thune** told reporters he does not expect the bill to reach the floor before the summer recess begins around August 7. His reasoning, per CoinDesk, is that the chamber is first working through federal nominations, then a Russia sanctions bill, legislation now tied to the memory of Senator **Lindsey Graham**, who died in July.

## How Far the Bill Has Come Since July 2025

The CLARITY Act is the most advanced crypto market structure bill in US history. The House passed it on July 17, 2025, by a **294-to-134** margin, with more than 70 Democrats crossing the aisle. The Senate Banking Committee advanced it **15-to-9** on May 14, 2026. On June 1, it landed on the Senate Legislative Calendar as Calendar No. 423, making it eligible for a full floor vote without further committee work.

That's where the momentum ended. Calendar placement is not a vote. Four procedural steps remain: floor debate, a 60-vote cloture threshold, House-Senate reconciliation between differing Banking and Agriculture Committee texts, and a presidential signature.

## The Math Problem: Why 53 Seats Isn't Enough

Republicans hold 53 seats. Passing cloture requires 60 votes, so roughly 7 to 10 Democrats have to sign on. Committee support suggests two: **Ruben Gallego** and **Angela Alsobrooks** are already there. The rest are holding out. In mid-July, Senators **Chris Murphy, Chris Van Hollen**, and **Jeff Merkley** formally opposed the bill after a merged draft dropped an ethics provision that Democrats had made a condition.

## Prediction Markets Have Turned Sour

The betting reflects the drift. Polymarket priced 2026 passage at **28%** on July 30, down from a peak of **82%** in February. Galaxy Digital cut its own estimate to **30%** as talks slid deeper into the Senate calendar. **Brian Gardner**, chief Washington policy strategist at Stifel, said, *"The bill probably needs to get through the Senate by the end of July,"* and missing recess would cause prospects to *"deteriorate materially."*

![Clarity Act Odds](https://www.disruptionbanking.com/wp-content/uploads/2026/07/Clarity-Act-Odds.jpg)

## What a September Delay Actually Costs

Missing the window doesn't kill the bill. It pushes it into a September session crowded by appropriations fights and the November midterms, thin territory for floor time. The cost is real for builders. Dozens of crypto projects have shut down in 2026, with the industry pointing to regulatory uncertainty as a key driver: firms can't plan custody or product roadmaps without knowing which agency holds jurisdiction.

For now, the only guardrail is administrative. The March 17, 2026 joint **SEC-CFTC** guidance classifying 16 digital assets can be rescinded by any future administration without a vote. Only a statute survives that. Watch one thing above all: whether Thune files cloture at all. No filing, no summer vote.

The short answer: stuck. As of late July 2026, the Digital Asset Market Clarity Act (H.R. 3633) has cleared the House and a Senate committee, but it still CLARITY Act update July 2026: H.R. 3633 has cleared the House and Senate Banking but remains stuck with no floor vote or cloture. Here’s where the crypto market structure bill stands right now.

CLARITY Act Stalls in Senate: What It Means for Crypto's Future

## A Record-Breaking Night for New Jersey

The April 29, 2026 Powerball drawing made history in New Jersey, creating **18 second-tier millionaires**—a state record. Among them, 14 won $1 million each, while 4 added the Power Play multiplier to take home $2 million. The $143.4 million jackpot went to tickets sold in Kansas and Indiana, but the Garden State's story is one for the books.

## The Dream That Started It All

One winner's journey is as surreal as it gets. They claimed to have a **vivid dream** where they saw the winning numbers clearly. Acting on instinct, they bought a ticket the next morning—but it didn't win. Disappointed, they tossed the slip onto a dresser and forgot about it.

Six months later, while tidying up, the slip fell out. "Something just told me to try those numbers one more time," they said. That second try turned into a **$1 million prize**.

## Why So Many Winners at Once?

Lottery officials attribute the unusually high number of second-tier winners to a common player habit: many people choose numbers in a **vertical column** on their play slips. This pattern can synchronize bets, leading to multiple winners when those numbers hit. The winning numbers were 03, 19, 35, 51, 67, with Powerball 15 and a 2x multiplier.

## Unclaimed Prizes and the Clock Ticks

As of June 1, 2026, **15 of the 18 winning tickets** have been claimed, leaving 3 $1 million prizes unclaimed. Winners have exactly one year from the drawing date to step forward, with the deadline set for **April 29, 2027**. James A. Carey, Executive Director of the New Jersey Lottery, said, "We can't wait to meet our final three millionaires and hear their stories."

This story is a reminder that luck can strike in the most unexpected ways—even from a forgotten slip of paper.

New Jersey set a Powerball record with 18 million-dollar winners as one dream-inspired ticket claimed $1 million after months.

Dream Numbers, Dresser Discovery: How a Forgotten Slip Turned into a $1M Powerball Win

**Zhibao Technology Inc.** (NASDAQ: ZBAO), a leading InsurTech company in China, has announced a groundbreaking **$154.7 million private investment in public equity (PIPE)** financing that will be paid entirely in **Bitcoin**. This move underscores the growing trend of companies adopting **Bitcoin as a treasury asset**.

### Key Highlights of the Transaction

- **PIPE Securities Structure:** The company will issue **442 million units**, each consisting of one Class A ordinary share and a warrant to purchase an additional share at $0.35, exercisable for two years.
- **Bitcoin Consideration:** The purchase price of $0.35 per unit totals **$154.7 million**, to be paid with **2,380 Bitcoins**, valued at $65,000 per Bitcoin based on market prices as of July 30, 2026.
- **Closing Conditions:** The deal is expected to close within 12 business days, subject to regulatory approvals, Nasdaq compliance, and other customary conditions.
- **Board & Governance Reorganization:** Upon closing, the board will be reduced to five members, with four new directors designated by investors, and a new CEO and CFO appointed. Current Chairman and CEO **Botao Ma** will remain on the board.

### Participating Investors

The private placement includes a diverse group of institutional and individual investors, such as **METAVERSE INTELLIGENCE TECH LTD**, **DYT INFO PTE. LTD.**, **YY TECH INC**, and others.

### Use of Proceeds

Proceeds will be used for:
- General expenditure and business development
- Research and development, including **AI implementations** for its InsurTech model
- Furthering the company's **Digital Asset Reserve strategy**, focusing on Bitcoin as a treasury asset

### About Zhibao Technology

Zhibao Technology is a pioneer in **2B2C digital embedded insurance** in China. It launched the first digital insurance brokerage platform in 2020, powered by its proprietary **PaaS**. The company has developed over 40 proprietary digital insurance solutions across industries like travel, sports, logistics, and e-commerce, leveraging big data and AI.

### Forward-Looking Statements

This press release contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from expectations. The company undertakes no obligation to update these statements.

For more information, visit [ir.zhibao-tech.com](https://ir.zhibao-tech.com).

Shanghai, China--(Newsfile Corp. - July 31, 2026) - Zhibao Technology Inc. (NASDAQ: ZBAO) (&quot;Zhibao,&quot; &quot;we,&quot; or the &quot;Company&quot;), a leading...

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