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I experienced what the user on Reddit here experienced. Any idea why this happens ?

https://www.reddit.com/r/coldcard/comments/17epqk8/040_bitcoin_taken_instantly_from_my_coldcard/

Doesn’t look like the seed was shared as it’s a new wallet so what is this mechanism in coldcard. How would the user send his bitcoin if they experience this?

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  • Could you please summarize what happened to you? We prefer when questions are self-contained on this site, so it remains understandable in case the linked resource is deleted. You can of course link to the other user’s experience for additional context.—Could you please clarify whether your funds got stolen, or all of your funds got moved to another address that you also control?
    – Murch
    Oct 30 at 14:56
  • So after receiving the coins I’ve noticed electrum creates a new address and puts my coins there for privacy. It’s unclear how to use the UI to send coins now
    – caliGeek
    Nov 9 at 5:04
  • If you received coins and they immediately got moved to some other address, I’m afraid that sounds like malware
    – Murch
    Nov 9 at 13:15

1 Answer 1

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The security of your coins relies on having being able to produce a random number within a large range of possible numbers. A large range is required so that it is infeasible for someone to search the entire space of all private keys, and so that it is extremely unlikely (basically impossible) for someone to produce the same key that you did. Randomness is required to ensure that the random number you picked cannot be guessed.

When you use only one or very few dice rolls, while you may have pretty good randomness, the range of numbers you can produce is not large enough. Thus if someone wanted to take your coins, they can just pre-generate all of the keys in that range (by iterating all possible numbers) and watch for any coins to be sent to them. That is presumably what happened to this person on Reddit.

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  • This has happened to me as well and I did all the dice rolls. Good news is if I put my xpub key online , it does show the change address part of the same public key
    – caliGeek
    Oct 27 at 23:07
  • If you want to provide more context to your question, please edit your question post instead of commenting.
    – Murch
    Oct 30 at 14:58
  • @Murch it appears programs like electrum create a new receiving address and put your coins there for privacy
    – caliGeek
    Nov 9 at 15:11
  • This throws the ledger off to a normal user trying to monitor his or her balances
    – caliGeek
    Nov 9 at 16:43

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