Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news
Here’s a quick recap of the crypto landscape for Wednesday (August 5) as of 10:00 a.m. UTC.
Bitcoin price update
Bitcoin (BTC) was priced at US$64,103.14, up by 0.4 percent over the past 24 hours.
Chart via The Investing News Network
Bitcoin price performance, August 5, 2026.
Ether and altcoin price update
- Ether (ETH) was priced at US$1,870.29, trading flat over the last 24 hours.
- XRP (XRP) was priced at US$1.06, trading 1.4 percent lower over the past 24 hours.
- Solana (SOL) was trading at US$73.94, trading flat over the past 24 hours.
Today’s crypto news to know
Coinkite issues warning after US$130 million hack
Coinkite issued a warning to the crypto industry after hackers exploited a software flaw in its Coldcard hardware wallets to steal up to US$130 million in Bitcoin.
The company revealed that AI failed to detect a critical vulnerability dating back to March 2021. The flaw forced affected firmware to rely on a deterministic pseudo-random generator rather than a hardware-backed true random number generator, enabling attackers to reconstruct master seed phrases without physical access to the devices.
On-chain analysis from Galaxy Research confirms that hackers drained up to 2,055 Bitcoin from roughly 7,300 user addresses across multiple attack waves.
Coinkite CEO Rodolfo Novak urged all affected users to move their funds immediately and install the latest firmware updates.
The company destroyed remaining inventory manufactured with the flawed code and halted all shipments after confirming the exploit. Because installing the new firmware only protects newly generated seeds, existing wallet owners must completely replace their seed phrases to secure their assets.
Coinkite shared attacker addresses with law enforcement and crypto exchanges as investigations continue, noting that nearly 90 percent of the stolen Bitcoin currently remains unmoved.
US$1.8 billion in dormant Bitcoin linked to UK fraud case
On-chain investigator Specter uncovered a cluster of dormant Bitcoin wallets holding 28,555 BTC worth US$1.8 billion tied to one of the largest money laundering cases in UK history, according to a recent X post.
The investigation began when a wallet untouched since 2017 suddenly moved 1,020 BTC worth US$60 million and scattered the funds across multiple addresses.
Specter traced those transaction trails directly to wallet clusters linked to the UK prosecution of Qian Zhimin. Qian defrauded more than 128,000 victims in China out of US$800 million between 2014 and 2017 before converting the proceeds into Bitcoin.
She subsequently fled to the UK under a forged passport and attempted to launder the stolen assets through luxury London real estate purchases.
UK authorities eventually staged the country’s largest crypto seizure by confiscating over 60,000 BTC, leading to Qian’s conviction and nearly 12-year prison sentence.
Transfers made by police during that 2021 seizure left distinct on-chain trails that enabled analysts to identify the connected US$1.8 billion wallet cluster.
BNY Mellon launches crypto staking in Galaxy Digital partnership
BNY Mellon (NYSE:BK) partnered with Galaxy Digital (NASDAQ:GLXY) to allow institutional clients to earn staking rewards directly on cryptocurrencies held within the bank’s custody platform.
The collaboration integrates proof-of-stake capabilities into BNY’s existing Digital Asset Custody system, eliminating the need for institutions to transfer funds to external providers.
Meanwhile, Galaxy Digital provides technical expertise in proof-of-stake blockchain networks while serving as a design partner for BNY’s broader digital asset infrastructure.
The new staking feature will operate alongside BNY’s existing servicing suite, including fund accounting, tax reporting, and payment processing.
BNY currently oversees US$62.6 trillion in assets under custody and serves over 90 percent of Fortune 100 companies.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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