A major security incident reported this week involving Coldcard hardware wallets, however, has changed the risk calculus among firms weighing crypto’s four custody models. Attackers exploited a flaw affecting older versions of firmware used by Coldcard, a popular bitcoin hardware wallet made by Coinkite. It is also why institutional custody providers compete on policy engines, audit trails, insurance arrangements and governance rather than simply promising to keep assets offline. More here: The Stablecoin Sandwich Is Missing the Trust LayerETFs Offer Bitcoin Custody Without Operational ControlThe Coldcard failure exposed the danger of treating offline storage as the end of the security discussion. That is what makes the Coldcard crypto incident consequential for institutional custody.