r/coldcard

(I have used ChatGPT to summarize and make everything readable)

Hi everyone,

I’m trying to help a friend recover Bitcoin that he set aside around 2018, using what he remembers as a first-generation Coldcard (possibly Mk1). He needs money urgently for a medical emergency in his family.

He isn’t tech-savvy, and the original setup was done using someone else’s Coldcard. From what he remembers, the BTC was somehow backed up or stored using a USB flash drive.

Here’s everything we know:

The setup was done around 2018.
He has a handwritten sequence of 12 words.
He also has a handwritten 6-digit PIN.
He has the USB flash drive associated with the original setup.
He last checked the BTC’s public address/balance around 2020.
He hasn’t attempted to access or transfer the BTC since then.
We’re unsure whether the original Coldcard is still available in the market.

After doing some reading, I’m wondering whether the 12 words are actually the password for a Coldcard encrypted backup rather than the BIP39 seed phrase.

My questions:

How did the original Coldcard Mk1 handle backups in 2018? Could those 12 words be the encryption password for a .7z backup?
How can we safely identify what’s on the USB drive without exposing private keys or accidentally modifying anything?
If we have the encrypted backup and its 12-word password, can it be restored using a newer Coldcard without the original device?
Does the old 6-digit PIN matter for recovery, especially since the original Coldcard belonged to someone else?
What’s the safest process for recovering access, verifying the BTC balance and eventually transferring the funds to a newly generated hardware wallet?

I’ve attached photographs of the type of Coldcard and the USB drive for reference.

We haven’t shared the recovery words, PIN or backup contents with anyone and won’t be doing so.

I’d really appreciate guidance from anyone experienced with the early Coldcard models, ideally a safe step-by-step approach. Please reply publicly rather than via DM.

Thanks in advance!

The USB drive

I'm one of the people affected by the Coldcard hack and I'm trying to figure out where things stand now, because from where I'm sitting it feels like complete silence on actually making victims whole. Did anyone take responsibility? What's the process? How do you even claim a loss? We saw launches like Celcius and FTX get dragged through legal processes in the past, but here it feels like nothing is happening. It's now been a couple months since the exploit went public at the end of July.

As far as accountability goes, from what I can piece together, Coinkite has said it's assisting victims with things like reporting to police and applying for insurance claims, but it has not offered any compensation.

So my questions for other affected owners:

Has anyone actually gotten anywhere with insurance claims or police reports? What did that process look like and was it worth the effort?

Are you joining the class action, and if so how did you get connected with the people organizing it?

Has Coinkite actually responded to you individually, or are you getting the same silence I am beyond the generic advisory?

And honestly, for those who lost significant amounts - how are you coping with this and what are your realistic expectations for recovering anything?

I feel completely stuck and would appreciate hearing from anyone else in the same boat about what the actual path forward is, if there even is one.

Need help urgently recovering BTC from a first-generation Coldcard (2018) — 12 words, PIN and USB drive

Any news on Coldcard owners?