Often called a "hardware wallet," the device is designed to keep hackers from accessing a user's bitcoin over the internet. Instead, Coinkite is urging those users to create a brand-new recovery phrase using the updated software and move their bitcoin into the newly secured wallet. Coinkite also warned that moving the same recovery phrase into another wallet does not solve the problem because the weakness follows the recovery phrase itself, not the physical device. "If you generated a seed using a Coldcard wallet, move your funds now, using our updated best practices, before reading further," he wrote. However, Coinkite recommends that anyone who is unsure how their wallet was set up create a new recovery phrase and move their funds as a precaution.