A surge in Bitcoin transfers below one BTC reached the highest daily level since November 2022, with 39,600 BTC moved on Friday, according to CryptoQuant research head Julio Moreno. The figure was 300 BTC less than the 39,900 BTC transferred on November 16, 2022, days after the FTX exchange filed for bankruptcy, Moreno said. The suspected Coldcard hack, first reported in late July, continued to affect users as of the report. Galaxy Digital's research arm reported that the latest identified wave drained an additional 207.7 BTC, valued at approximately $13.2 million, bringing estimated losses to 1,367 BTC ($88.6 million) across 4,585 addresses, according to Coldcard Watch. Alex Thorn, head of research at Galaxy Digital, warned on X that the attack was still ongoing and urged users to move funds from Coldcard‑generated addresses immediately if they had not already done so. His team continued to identify new victim and attacker addresses, and user reports helped track the stolen funds. Debate over Bitcoin self‑custody resurfaced. Nick Neuman, CEO of Casa, said the decentralized nature of self‑custody gave users time to react and estimated that potentially ten times more Bitcoin was protected through self‑custody than the amount identified in the attack. Eric Balchunas, senior ETF analyst at Bloomberg, said Bitcoin exchange‑traded funds offered a safer and more convenient alternative for many users, while other commentators argued the incident reflected a failure of the wallet provider rather than a flaw in self‑custody itself. The incident remains unresolved as researchers continue to monitor the theft and its implications for self‑custody practices.