In brief

The onchain metrics around the Coldcard incident reinforce how important self custody is to the resilience of Bitcoin as an asset class.

In the couple of days around the hack:

• 2.1k BTC was stolen

• 22k moved to exchanges

• 233k moved out of long term holder wallets in on… pic.twitter.com/iewr5RvG9c— Nick Neuman (@Nneuman) August 9, 2026

The Coldcard incident resulted in Long-Term Holder supply declining by ~233k BTC, a 1.38% fall from its recent all-time high.

With such a meaningful event, an important question is whether the emergency migration of coins has skewed the onchain metrics we use to analyse Bitcoin.… pic.twitter.com/FPVLUkUlqU

— _Checkonchain (@_checkonchain) August 7, 2026