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Wire · opportunities

Hacked Canadian bitcoin wallet maker warns AI failed to detect bug

5 August 2026 · By · Wire by Fusion42

Published

5 August 2026

Topic

opportunities

◆ Sectors

Crypto & Web3

◆ Geography

Canada

◆ Source

Read at financialpost.com →

◆ Verified

Fusion42 · 30 August 2026 · Fusion42 review

Canadian Bitcoin wallet maker Coinkite warned that AI failed to detect a security flaw exploited in a hack draining US$130 million from Coldcard wallets, urging firms using AI for security code review to re-examine their processes.

This Wire brief sits within Fusion42's coverage of Crypto & Web3.

◆ ◆ The Wire takeaway

You must immediately test your security code review tools beyond AI to avoid missing critical bugs. This breach makes it clear that relying on AI alone in crypto security invites catastrophic loss.

◆ Coverage

1 source · 5 Aug 2026

◆ Related on Wire

◆ Topics

Crypto & Web3bitcoincrypto-securityai-failurewallet-hackself-custody