Sui co-founder builds $10 quantum wallet after Coldcard hack

Mysten Labs co-founder Kostas Chalkias is leasing a dedicated factory to mass-produce quantum-resistant hardware wallet cards for Sui, with a target price of under $10 each. This move follows a recent firmware flaw in Coldcard hardware wallets that led to the theft of 2,055 BTC, valued at close to $130 million, from over 7,700 addresses. Chalkias stated that the Coldcard incident would not be repeated for his users, and is personally funding the project outside of his role at Mysten Labs to proactively address future cryptographic vulnerabilities. He aims for a signature time of 1-2 seconds per NFC transaction.

Coldcard Hack Fuels $10 Quantum Wallet Development A recent security failure impacting over 7,700 bitcoin addresses spurred Kostas Chalkias, co-founder of Mysten Labs, to independently pursue affordable quantum-resistant hardware wallets. The Coldcard hardware wallet experienced a breach due to a firmware flaw dating back to 2021, resulting in the theft of approximately 2,055 BTC, valued at nearly $130 million, after attackers exploited a compromised key generation process. Alex Thorn of Galaxy Research identified at least fifteen distinct attackers actively targeting remaining vulnerable wallets, demonstrating the scale of the incident. While not a quantum attack itself, the Coldcard event underscored the risk of hardware wallets failing at a cryptographic level, creating potential vulnerabilities until funds are moved. This initiative complements Sui’s existing plans to integrate two quantum-resistant signature schemes approved by the National Institute of Standards and Technology, one for standard accounts and another for high-value Move-based vaults. Existing Sui account holders will be able to transition to quantum-safe keys using their current recovery phrases, avoiding a disruptive hard fork. Last year, with help from some friends, I leased a dedicated factory in a secret location to build quantum-safe wallets at scale” He has set a target of under $10 per quantum card key and 1-2 seconds per NFC quantum signature. Source: https://news.bitcoin.com/security/sui-chalkias-quantum-safe-wallet-cards/ Stay currentSee today’s quantum computing news on Quantum Zeitgeist for the latest breakthroughs in qubits, hardware, algorithms, and industry deals. Tags: Dr. Donovan Dr. Donovan is a futurist and technology writer covering the quantum revolution. Where classical computers manipulate bits that are either on or off, quantum machines exploit superposition and entanglement to process information in ways that classical physics cannot. Dr. Donovan tracks the full quantum landscape: fault-tolerant computing, photonic and superconducting architectures, post-quantum cryptography, and the geopolitical race between nations and corporations to achieve quantum advantage. The decisions being made now, in research labs and government offices around the world, will determine who controls the most powerful computers ever built. Latest Posts by Dr. Donovan: A crystal’s natural shape focuses light like a waveguide August 12, 2026 Pasqal and Swiss Quantum Initiative sponsor CERN’s quantum skills training August 12, 2026 Aquark links radars with quantum timing for clearer picture August 12, 2026