08/02 update: An unprecedented attack on hardware wallets made by Coldcard has resulted in around 1,200 bitcoin addresses being drained of more than 1,000 bitcoin worth about $70 million, according to Galaxy Research analysts.

The hack, which has drained 1,816 Bitcoin across 5,200 addresses, is devastating because it affected hyper-secure cold storage wallets.

For years, the corporate Bitcoin (CRYPTO:BTC) story was simple. Companies raised capital, bought Bitcoin, and hoped the cryptocurrency’s long-term appreciation would reward patient shareholders. That straightforward strategy helped transform Strategy (NASDAQ:MSTR) into the world’s largest corporate holder of Bitcoin and turned executive chairman Michael Saylor into one of the asset’s biggest evangelists.