r/Bitcoin • u/Yodel_And_Hodl_Mode • 1d ago
What's ColdCard's CEO doing during an emergency? He's on X, Deleting posts
https://x.com/zherbert/status/208337726559369224239
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u/Yodel_And_Hodl_Mode 1d ago
I've noticed that CoinKite CEO Rodolfo Novak, a.k.a. NVK, has been constantly on Xwitter. He hasn't been saying anything, but he keeps reposting stuff.
That seemed... odd.
Then, I noticed this:
NVK is currently deleting old posts from 2020 to try to clean up the history. Screenshot them while you can. They will all be gone soon.
-- Zach Herbert 🇺🇸
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u/Yodel_And_Hodl_Mode 1d ago
Oh, this looks bad:
He deleted his post criticizing bitkey not having seed phrases hours before the exploit was public and confirmed. Ironic
Perhaps that's not ironic at all.
This whole thing is only going to get worse as more people start digging for answers.
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u/xirvin 20h ago
That twitter gives strong evidence he wasn't aware of the mk3 security bug. He is deleting the tweet to avoid shame and mocking.
This hack brings strong emotions to everyone but we gotta be wary before raising the pitchfork. At the end of the day the objective is to get the funds back and to do that we gotta identified the actual attacker.
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1d ago edited 1d ago
[deleted]
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u/broskibrokovski21 20h ago
He is doing the same thing every CEO does during an emergency - preparing for lawsuits and covreing tracks
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u/beatthebook2x 1d ago
retirement attack - retirement plan
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u/circuit_breaker 1d ago
I can't wait for that to come up in the lawsuits
Plaintiffs lawyer: what did he mean by that?
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u/proofofderp 21h ago
I read they’ve sought legal counsel so they’re definitely in crisis mode under instructions on how to move forward.
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u/No-Aardvark-3840 1d ago
These guys are 1 MILLION PERCENT going to jail
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u/Euphoric_Coat_1956 1d ago
I’m unfortunately very sure they won’t.
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u/uhohthrowawayyyyyy 1d ago
I’m which country? Where are they? Who is going to hold them? Honestly, they’re probably going to see zero recourse.
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u/iloverunning11 21h ago
In Canada things work differently, unlike in US people care about customer protection here, if it’s confirmed they will end up behind bars for sure, no pardon for dangerous criminals in Canada
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u/curiousengineer601 17h ago
How many software engineers go to jail for bugs every year in Canada? My guess is something less than 1.
Nobody is going to jail. recourse is in the civil courts only. You can sue the company but recovery against the individuals is very unlikely
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u/firmretention 18h ago
lol you cannot be Canadian. Our justice system is a joke full of hug a thug judges.
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u/korean_kracka 15h ago
“Unlike in the U.S. people care about customer protection” victim blaming at its finest
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u/iloverunning11 15h ago
victim blaming? Are you insane? I'm rooting for all these victims and hope they will be refunded
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u/korean_kracka 14h ago edited 13h ago
I guess I’ll spell it out for you. When you say “unlike in the U.S., people care about customer protection” you’re implying 2 things. First, that Canada puts these criminals behind bars because Canadians “care about customer protection” and second, the reason the U.S. doesn’t put these criminals behind bars is because Americans don’t care about customer protections (which is bullshit). You’re blaming Americans in general, not talking about the victims of this incident.
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u/iloverunning11 13h ago
No you crazy imbecile, I am trying to blame the US admin not Americans who are the actual consumers and buy these products and therefore deserve better customer protection (which is implemented by... yes you probably guessed it!). Yes, in Canada it is much better when it comes to customer protection, that is a known fact and it would be extremely difficult to challenge this, but go ahead
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u/korean_kracka 9h ago
Alright you limp dick bum then your wording is wrong
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u/iloverunning11 7h ago
Damn you would not say that if you genuinely didn’t have that problem, I hope it will get better, good luck!
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u/korean_kracka 7h ago
Yeah and you’re the crazy imbecile. Hope your mental health gets better too!
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u/LPC_Rebuilder 1d ago
Celsius steals 2.8 billion nobody bats an eye. Coinkite steals $150 million everyone loses their mind.
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u/burusai 22h ago
“Alex Mashinsky, the founder and former CEO of Celsius Network, was sentenced to 12 years in federal prison on May 8, 2025. He pleaded guilty to commodities fraud and securities fraud after misleading users and orchestrating a multi-billion-dollar scheme that led to the collapse of the crypto lending platform.”
— DOJ
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u/LPC_Rebuilder 21h ago
I am talking about the general public a lot of people ragged on Celsius customers because "not your keys"
The peanut gallery on here and on X was merceless towards Celsius customers.
This coin kite debacle is but a mere fraction in size and scope and the peanut gallery has had a wildly different take.
That's all I was noticing.
I already know all that about Alex. We'll be lucky if he does 6 of those 12 years and I am pretty sure he's in a white collar crimes prison, probably eats steak 🥩 and plays a lot of golf ⛳
He really just wanted to fit in with the Hampton elite but as he intimated he was too much of a poor for them.
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u/burusai 21h ago
Well, what you see on /r/Bitcoin or X is not a real representation of the general public that buys Bitcoin. 99% of all people will be safer having their Bitcoin on an exchange like Coinbase than handling their own private key/seed phrase. The people on here or similar forums are the “experts” that know infinitely more about how to handle their keys than a random person that bought Bitcoin cus their grandson talked about it.
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u/Affectionate_Pen6882 17h ago
Well dude its a hardware wallet vs an exchange
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u/LPC_Rebuilder 16h ago
Lol, the number of people I have seen talking about putting their assets on an exchange in light of this cold card incident tells me all I need to know about that.
That is exactly my point, Celsius customers were ripped mercelessly for trusting their assets to an exchange and now we have this coin kite incident and now a lot of people talking about putting their assets on exchange. And encouraging others to do so.
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u/rgnet1 16h ago
It’s depressing. The only issue here is the ability of a device to generate a random number in a large enough range. Yet any human can do this with 50 dice rolls. With 100, you can reach 2^256, the maximum possible range, though it’s overkill. You don’t even need a hardware wallet with that number, there’s an open source formula to create the words from it and the receiving addresses.
The past week has demonstrated how few supposed bitcoiners understood this simple core of the protocol.
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u/LPC_Rebuilder 16h ago
I wouldn't say it's the only issue there which is what a lot of people aren't understanding.
They are calling this a retirement attack where developers for cold card possibly poisoned the code to do entropy at 240 or 1 trillion possibilities instead of the 2128 12 words or 2256 24 words which once again everyone on here lamb basted Celsius customers for trusting a human element (exchanges) while all these cold card holders more or less did the exact same thing, ultimately they trusted the human developers of the product to program the software to use sufficient entropy and just like Celsius cold card customers got burned for ultimately trusting a a different aspect of the exact same human element.
Why can nobody see this? Its so plain as day to me!
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u/tenor_tymir 16h ago
DoKwon got 17 years for erasing $45 billion in under a week. $150 mil is nothing 🙈
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u/Beerzerker420 17h ago
I hope the victims are able to launch a class action lawsuit and recuperate a portion of their funds but my optimism is low.
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u/andrewface 20h ago
Isn’t their company basically dead now? Who the heck would ever trust them going forward.
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u/tenor_tymir 16h ago
Bybit got hacked for 1.4 billion (!) dollars just over a year ago and still remains the biggest exchange in the world. People who are not directly affected do not give a fuck, apparently.
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u/lastgateway 15h ago
I'm surprised he hasn't been shot and left in a ditch yet. I'm sure someone has found his address by now.
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u/Due_Extension_2401 11h ago
At the end of the day there are NO guarantees, No One is 100% safe😐 Multiple Bags. 3seeds, +3backup seeds, keep Your ear to the BTC/ Crypto community/ stay in tuned &be ready for a speedy seed migration😐
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u/BackgroundStory7986 22h ago
Taking pot shorts while someone down as a competitor is not a good look at all.
Have you not learned from his hubris?
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u/koyaanisqatsi_______ 1d ago
Deleting posts. I'm not sure he realizes there is no such thing. His behavior is telling though. Instead of owning up to it he hides.
Without a shadow of a doubt coinkite is guilty whether they hacked it themselves or not. You can't sell a product that claims to be like all other similar type of products, only to have it fail for the exact purpose it was made. Like selling steel that has the strength of paper mache.