Bitcoin microtransfers hit a new high since FTX crashed, and the Coldcard security incident sparked a custodian debate

Comparing news, while the Coldcard wallet is suspected to have been hacked and continues to unfold, Bitcoin microtransfer activity has increased dramatically, reaching the highest level since the FTX exchange thunderstorm. The market is once again discussing the security issue of Bitcoin self-custody.

Julio Moreno, head of research at CryptoQuant, disclosed data on the X platform. The number of Bitcoin transfers below 1 BTC circulating on the chain rose to the highest level since November 2022. A total of about 39,600 BTC were transferred in a single day, which is only about 300 pieces lower than the November 16, 2022 record (39,900 BTC) a few days after FTX filed for bankruptcy. He believes it is a positive sign that users take active action to deal with risks. Additionally, Bloomberg ETF senior analyst Eric Balchunas believes that Bitcoin ETFs, with mature regulatory frameworks and convenience, may provide a safer way to invest for some users.

However, industry insiders pointed out that the Coldcard incident was more a reflection of issues with a single wallet vendor or specific security process, and did not mean that the entire Bitcoin self-hosting system failed. This incident once again highlighted the importance of safety awareness, risk diversification, and wallet usage habits in personal asset management.

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