The COLDCARD exploit was an emperor-has-no-clothes moment for Bitcoin. In this episode of the Hell Money Podcast, Casey Rodarmor and Erin Redwing break down what happened, how AI may have changed the balance between attackers and defenders, and what the fallout exposed about Bitcoin security and culture.

“Don’t trust, verify” is one of Bitcoin’s core principles — but over time, heuristics like Bitcoin-only, open source, self-custody, and trusted developers became ways of deciding what to trust instead of actually verifying. So what happens when those heuristics fail?

Get bonus content by subscribing to @hellmoneypod on X: https://x.com/hellmoneypod/creator-subscriptions/subscribe

Or support the podcast by sending a BTC donation: bc1qztncp7lmcxdgude4px2vzh72p2yu2aud0eyzys

ORDINALS SHIRT: https://shop.inscribing.com/products/ordinals-protocol-shirt

TIMESTAMPS

0:00 COLDCARD bug exploit explained

4:00 Did the attacker use AI?

8:10 Bitcoin Red Team

14:53 AI, eclipse season, and what breaks next

16:48 A 9/11 moment for open source and self-custody

23:39 AI defense for open source software

29:19 The crisis for Bitcoin self-custody

30:54 What does it actually mean to be a sovereign individual?

34:26 Self custody is worth fighting for

39:50 The cultural coddling of COLDCARD

45:43 “Strong opinions, weakly held” found dead

48:15 Coinkite’s development practices and the warning signs

56:59 Outro

The COLDCARD Hack Was Bitcoin’s 9/11

Hell Money

The COLDCARD Hack Was Bitcoin’s 9/11