Bitcoin Network Activity Hits Recent High as Users Move Funds After Coldcard Hardware Wallet Breach

The Bitcoin network recorded 2.27 million new wallets and 751,000 active addresses in the week to Saturday, August 8, 2026, its strongest on-chain activity level in recent months, ArzDigital reported citing data from Santiment. The surge stems from the discovery of a firmware security flaw in Coldcard hardware wallets that has led to the theft of more than $116 million in bitcoin from wallet holders so far, prompting users to urgently move their holdings to new, secure wallets. Unlike typical bull-cycle patterns, exchange inflows during this period averaged about $1.55 billion a day, even below July's average, a sign investors were moving to protect their assets rather than sell or trade them, according to the report.