AI Cracked ColdCard in 8 Minutes ($100M Gone) - The Chopping Block

Description

Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dissect ColdCard's ~$100M exploit that Claude Code cracked in 8 minutes, debate whether AI just killed open-source security and Bitcoin maximalism, tear apart Ethereum's EIP-8361 staking-yield taper, and unpack Leopold Aschenbrenner's 67% Situational Awareness blowup and CLARITY Act's ethics fight. Show Highlights 🔹 ColdCard's Bitcoin-only hardware wallet drained of nearly $100M after a five-year-old random-number-generation bug silently fell back to weak software RNG. 🔹 A single dev swapped C++ macros with a one-word commit message, seemingly just to get NVK's code to compile, and doomed years of keys. 🔹 Claude Code found the ColdCard bug in 8 minutes; open model GLM 5.2, no internet, found it in ~20 for about $2. 🔹 Tarun calls Bitcoin maxi devs 'the RFK of security practices' who 'don't do audits,' branding ColdCard's lack of hardening 'incredibly delinquent.' 🔹 Haseeb warns AIs 'are much less diverse than humans,' so security now scales with AUM while North Korea spends thousands in compute. 🔹 Nic Carter calls it 'the death of Bitcoin maximalism' as Haseeb reads posts from holders who scrimped for three Bitcoin and woke up wiped. 🔹 EIP-8361 from Pintail and Justin Drake tapers ETH staking yield toward zero above 50% staked; the community is 'vomiting all over' it. 🔹 Tarun torches EIP-8361 as 'a truly horrendous post,' arguing constantly changing policy means Ethereum is never credible hard money. 🔹 Leopold Aschenbrenner's Situational Awareness AI hedge fund blew up ~67% while 4x levered, with Robert drawing Archegos comparisons. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Tarun Chitra, Managing Partner at Robot Ventures ⭐️Robert Leshner, Founder & CEO of Superstate Timestamps 00:00 Intro 01:03 ColdCard's $100M Exploit 05:46 AI, Audits & Bitcoin Maxi Security Failures 12:07 Open Source vs Closed Source in the AI Era 23:21 EIP-8361: Ethereum's Staking Yield Taper 30:34 Hard Money, Post-Quantum & Central Bank Chaos 35:54 Aschenbrenner's Situational Awareness Blowup 44:41 Robinhood Prediction Markets Boom as Hyperliquid RWAs Flip Crypto 51:54 Korea's Bloodbath & the Death of Retail Volatility 55:17 CLARITY Act: Ethics Provisions Are the Linchpin _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!