r/coldcard: whether owners still trust Coinkite
reddit-still-trust-coinkite
https://www.reddit.com/r/coldcard/comments/1vc9jqu/do_you_guys_still_trust_coinkite/
Latest reviewed change
source content difference between and
The thread gained two comments from the same participant arguing that trusting Coinkite after the incident would be irrational.
`#ifndef` vs `#if 0`
This tiny error cost $100s of millions and an entire company and 15 years of rapport.
+
+comment: p2a66mr
+parent: t3_1vc9jqu
+author: Grouchy-Childhood-55
+created_utc: 1786116299
First lines only. The complete diff is in the timeline below.
- Organisation
- Evidence role
- Community discussion
- Published
- not established
- Source changes
- 4
- Detected differences
- 4
- Unreviewed
- 0
- Copies held
- 5
Every check is recorded, including checks that found no text change. A detected edit is therefore bounded between two checks. The publisher's exact save time is not observable from this record. Last checked .
This post is held twice: here, with this project's own note on why it matters, and again as part of the conversation captured at , which is polled for changes. Both copies are the same post; neither is a separate event.
Snapshot and diff bodies for this chain monitor are held in the local evidence archive but withheld from the public site because they can contain the addresses of people who published nothing themselves. Capture times and reviewed change summaries remain available below.
Held captures
-
The thread gained two comments from the same participant arguing that trusting Coinkite after the incident would be irrational.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 18 lines
`#ifndef` vs `#if 0` This tiny error cost $100s of millions and an entire company and 15 years of rapport. + +comment: p2a66mr +parent: t3_1vc9jqu +author: Grouchy-Childhood-55 +created_utc: 1786116299 +edited: false +body: +Trust Coinkite? Are you nuts? After learning about the people that run that clownshow? But you bought that expensive wallet and already stamped you seed phrase into steel. You should definitely trust Coinkite. + +comment: p2a7c47 +parent: t1_p13vwbp +author: Grouchy-Childhood-55 +created_utc: 1786116590 +edited: false +body: +"All companies can do this, so this isn't so bad". This is a false equivalence. You KNOW that this company dropped the ball. Not a little, but a lot. You would be trusting the ego, dysfunctional culture, and sloppy practices/intentional incompetence that resulted in this mess. + +But by all means, continue throw money at those guys.Extracted text as captured
post: 1vc9jqu author: Altruistic_Ear_9542 created_utc: 1785547620 title: Do you guys still trust Coinkite? body: I have a cold card Q and didn’t generate my seed using dice rolls so I quickly moved my bitcoin to my backup Tangem temporarily. My question to you guys is do you still trust and are willing to generate a new seed using the dice roll function? Or are you guys ditching coldcard completely? I’m not sure where i stand. I paid $300 for the Q and literally just stamped my seed into the $100 trezor keep metal capsule last week so I’m pissed… comment: p0znf9s parent: t3_1vc9jqu author: Filmexec21 created_utc: 1785547781 edited: false body: No comment: p0zni4g parent: t3_1vc9jqu author: angelus97 created_utc: 1785547808 edited: false body: Nah this company is done comment: p0znkfq parent: t3_1vc9jqu author: deny_by_default created_utc: 1785547830 edited: false body: I got a Safe 7 first and created my seed on that. I got a CCQ later and imported that same seed into it so I could access the wallet from both devices. I know I'm not succeptible to this specific vulnerability, but now I'm wondering....what's going to be next? If something this big was overlooked, what else was overlooked? comment: p0znre8 parent: t1_p0znkfq author: Altruistic_Ear_9542 created_utc: 1785547899 edited: false body: My thoughts too. I’m wondering how no one caught this tho? comment: p0zqzhiExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
New comment from Outrageous-Lab-2138 attributing the incident to a one-line error, #ifndef vs #if 0, costing hundreds of millions.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 12 lines
Removed post ... [http://blog.coinkite.com/post/141836920461/time-to-be-your-own-bank](http://blog.coinkite.com/post/141836920461/time-to-be-your-own-bank) + +comment: p251dyp +parent: t3_1vc9jqu +author: Outrageous-Lab-2138 +created_utc: 1786050361 +edited: false +body: +The tragedy is that it all came down to one line of code: + +`#ifndef` vs `#if 0` + +This tiny error cost $100s of millions and an entire company and 15 years of rapport.Extracted text as captured
post: 1vc9jqu author: Altruistic_Ear_9542 created_utc: 1785547620 title: Do you guys still trust Coinkite? body: I have a cold card Q and didn’t generate my seed using dice rolls so I quickly moved my bitcoin to my backup Tangem temporarily. My question to you guys is do you still trust and are willing to generate a new seed using the dice roll function? Or are you guys ditching coldcard completely? I’m not sure where i stand. I paid $300 for the Q and literally just stamped my seed into the $100 trezor keep metal capsule last week so I’m pissed… comment: p0znf9s parent: t3_1vc9jqu author: Filmexec21 created_utc: 1785547781 edited: false body: No comment: p0zni4g parent: t3_1vc9jqu author: angelus97 created_utc: 1785547808 edited: false body: Nah this company is done comment: p0znkfq parent: t3_1vc9jqu author: deny_by_default created_utc: 1785547830 edited: false body: I got a Safe 7 first and created my seed on that. I got a CCQ later and imported that same seed into it so I could access the wallet from both devices. I know I'm not succeptible to this specific vulnerability, but now I'm wondering....what's going to be next? If something this big was overlooked, what else was overlooked? comment: p0znre8 parent: t1_p0znkfq author: Altruistic_Ear_9542 created_utc: 1785547899 edited: false body: My thoughts too. I’m wondering how no one caught this tho? comment: p0zqzhiExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
Flowa-Powa edited their comment, correcting "broken usb reader" to "broken SD card reader" and trimming trailing whitespace.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 8 lines
parent: t3_1vc9jqu author: Flowa-Powa created_utc: 1785785896 -edited: false -body: -My Coldcard Q has a broken usb reader, and now this omnishambles. +edited: 1786018845 +body: +My Coldcard Q has a broken SD card reader, and now this omnishambles. It was a genuine error though. There was a very well designed randomiser built in, but it wasn't being used, and was deferring to a very low quality randomiser that the developer didn't even know existed. The real error was not empirically testing the output for entropy. -I don't know. I'm conflicted. If you update the firmware, generate with dice and layer a passphrase on top you really should be alright. +I don't know. I'm conflicted. If you update the firmware, generate with dice and layer a passphrase on top you really should be alright. comment: p1ryc7f parent: t3_1vc9jquExtracted text as captured
post: 1vc9jqu author: Altruistic_Ear_9542 created_utc: 1785547620 title: Do you guys still trust Coinkite? body: I have a cold card Q and didn’t generate my seed using dice rolls so I quickly moved my bitcoin to my backup Tangem temporarily. My question to you guys is do you still trust and are willing to generate a new seed using the dice roll function? Or are you guys ditching coldcard completely? I’m not sure where i stand. I paid $300 for the Q and literally just stamped my seed into the $100 trezor keep metal capsule last week so I’m pissed… comment: p0znf9s parent: t3_1vc9jqu author: Filmexec21 created_utc: 1785547781 edited: false body: No comment: p0zni4g parent: t3_1vc9jqu author: angelus97 created_utc: 1785547808 edited: false body: Nah this company is done comment: p0znkfq parent: t3_1vc9jqu author: deny_by_default created_utc: 1785547830 edited: false body: I got a Safe 7 first and created my seed on that. I got a CCQ later and imported that same seed into it so I could access the wallet from both devices. I know I'm not succeptible to this specific vulnerability, but now I'm wondering....what's going to be next? If something this big was overlooked, what else was overlooked? comment: p0znre8 parent: t1_p0znkfq author: Altruistic_Ear_9542 created_utc: 1785547899 edited: false body: My thoughts too. I’m wondering how no one caught this tho? comment: p0zqzhiExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
The thread gained a personal account alleging loss of a Coinkite exchange balance in 2016 and citing historical terms, followed by the author's distrust of the company and self-custody.
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 34 lines
The real error was not empirically testing the output for entropy. I don't know. I'm conflicted. If you update the firmware, generate with dice and layer a passphrase on top you really should be alright. + +comment: p1ryc7f +parent: t3_1vc9jqu +author: AliveDrumming +created_utc: 1785896413 +edited: false +body: +I believe CoinKite are the criminal behind this. + +They stole my Bitcoin in Jan 2016. At that time, they were an exchange where I had purchased Bitcoin from Australia. They advised me a public key (of sorts), and later emailed me stating they had closed down and charged me (and others) their remaining balances for the trouble. They stated they would concentrate on hardware devices instead of running an exchange. I would never have purchased anything more from these folk. + +From the email that got sent to spam and ignored, "We will charge a termination fee equal to the remaining Balances on May 27th.(extended) + +We reserve the right to cancel the Grace Period, without notice, any time after April the 11th. + +Grace Period Extension Over (June 10th, 75 days!) + + + +We will charge a termination fee equal to the remaining Balances. + +https://coinkite.com/terms" + +Now, of course, with hindsight and education, I would have immediately sent the BTC to my own created BTC wallet (using dice). After completing a thorough survey of self-custody, I came to the conclusion that it is too risky, and the custody of the banking system has a lot going for it. + +CoinKite = Once a thief, always a thief! + +Ref's + +[https://www.reddit.com/r/Bitcoin/comments/4ca4b8/coinkite\_closing\_down\_web\_wallet/](https://www.reddit.com/r/Bitcoin/comments/4ca4b8/coinkite_closing_down_web_wallet/) + +Removed post ... [http://blog.coinkite.com/post/141836920461/time-to-be-your-own-bank](http://blog.coinkite.com/post/141836920461/time-to-be-your-own-bank) + +Extracted text as captured
post: 1vc9jqu author: Altruistic_Ear_9542 created_utc: 1785547620 title: Do you guys still trust Coinkite? body: I have a cold card Q and didn’t generate my seed using dice rolls so I quickly moved my bitcoin to my backup Tangem temporarily. My question to you guys is do you still trust and are willing to generate a new seed using the dice roll function? Or are you guys ditching coldcard completely? I’m not sure where i stand. I paid $300 for the Q and literally just stamped my seed into the $100 trezor keep metal capsule last week so I’m pissed… comment: p0znf9s parent: t3_1vc9jqu author: Filmexec21 created_utc: 1785547781 edited: false body: No comment: p0zni4g parent: t3_1vc9jqu author: angelus97 created_utc: 1785547808 edited: false body: Nah this company is done comment: p0znkfq parent: t3_1vc9jqu author: deny_by_default created_utc: 1785547830 edited: false body: I got a Safe 7 first and created my seed on that. I got a CCQ later and imported that same seed into it so I could access the wallet from both devices. I know I'm not succeptible to this specific vulnerability, but now I'm wondering....what's going to be next? If something this big was overlooked, what else was overlooked? comment: p0znre8 parent: t1_p0znkfq author: Altruistic_Ear_9542 created_utc: 1785547899 edited: false body: My thoughts too. I’m wondering how no one caught this tho? comment: p0zqzhiExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
-
Recovered from the Internet Archive rather than captured by this project. The row records that third-party provenance separately from captures made by this project.
What changed from the previous capture 0 lines
Extracted text as captured
post: 1vc9jqu author: Altruistic_Ear_9542 created_utc: 1785547620 title: Do you guys still trust Coinkite? body: I have a cold card Q and didn’t generate my seed using dice rolls so I quickly moved my bitcoin to my backup Tangem temporarily. My question to you guys is do you still trust and are willing to generate a new seed using the dice roll function? Or are you guys ditching coldcard completely? I’m not sure where i stand. I paid $300 for the Q and literally just stamped my seed into the $100 trezor keep metal capsule last week so I’m pissed… comment: p0znf9s parent: t3_1vc9jqu author: Filmexec21 created_utc: 1785547781 edited: false body: No comment: p0zni4g parent: t3_1vc9jqu author: angelus97 created_utc: 1785547808 edited: false body: Nah this company is done comment: p0znkfq parent: t3_1vc9jqu author: deny_by_default created_utc: 1785547830 edited: false body: I got a Safe 7 first and created my seed on that. I got a CCQ later and imported that same seed into it so I could access the wallet from both devices. I know I'm not succeptible to this specific vulnerability, but now I'm wondering....what's going to be next? If something this big was overlooked, what else was overlooked? comment: p0znre8 parent: t1_p0znkfq author: Altruistic_Ear_9542 created_utc: 1785547899 edited: false body: My thoughts too. I’m wondering how no one caught this tho? comment: p0zqzhiExcerpt only. The complete copy is held offline and backs quotations on this site. The original publication remains the canonical public source.
0 presentation-noise differences. Sidebar, ticker and other page chrome churn that our review classified as not being changes to what the source says.
The excerpts and plain unified diffs above show the text this project held and how it changed. To verify a quotation, compare it against the page itself or against the Internet Archive's copies, which are independent of this project.
Complete captures are held offline rather than mirrored here, so this page shows diffs and excerpts. If a quotation is ever disputed, the full copy can be produced. Ask.
Compare the screenshot or a quotation against the original while it is available.