COIN BASED: The Ledger Hack (w/ Marty Bent & Rob Hamilton)
Welcome back to Coin Based, our live Bitcoin discussion series! Live from PubKey NYC, ArbedOut (https://x.com/arbedout) is playing host this week, with Marty Bent (https://x.com/MartyBent) (Founder, TFTC (https://x.com/TFTC21)) in the room and Rob Hamilton (https://x.com/Rob1Ham) (CEO, AnchorWatch (https://x.com/AnchorWatch)) beaming in.
Two months after Coldcard, there's another hardware wallet hack to unpack: the Ledger reseller attack. They cover how tampered Ledgers with a SIM card and modem inside got into the supply chain, the $101 million drained from 342 wallets, how Coldcard and Ledger botched their crisis response, and whether Bitcoin needs an Apple to build hardware wallets.
0:00 INTRO: Welcome back to Coin Based!
2:16 How the Ledger hack unfolded: a reseller sold to China, and Mark Karpelès takes one apart
7:32 $101 million stolen from 342 wallets
11:54 What could victims have done differently?
14:11 Why no multisig wallet got drained (and what if all your Ledgers were tampered?)
16:19 Would covenants have stopped this? (letting your wallet refuse unknown addresses)
21:12 Security has to be on by default (the WhatsApp encryption problem)
27:21 How much Bitcoin before you need multisig? Rob's rule of thumb
28:39 Supply-chain risk: who do you trust before Ledger? Foxconn, chip makers and the Bitmain backdoor
32:34 Does open-source hardware fix this?
38:15 Should you build your own wallet? SeedSigner and air-gapped laptops
44:50 Grading Coldcard and Ledger's crisis response
50:43 Does Bitcoin need an Apple to build hardware wallets?
56:19 The Mark Karpelès redemption arc, and how far attackers have come since Mt. Gox
1:04:05 Should you auto-update everything now that AI is hunting bugs?
1:12:35 CONCLUSION: Pandora's box is open.
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Welcome back to the Internet's dive bar. We're located in New York City and Washington DC. (With more locations coming!)
We host FREE & OPEN TO THE PUBLIC events for the curious, the rebellious, and the orange-pilled.
Visit PubKey:
🗽 PubKey NYC
🗽 85 Washington Pl
🗽 New York, NY 10011
🇺🇸 PubKey DC
🇺🇸 410 7th St NW
🇺🇸 Washington, DC 20004
🧡 Register for FREE weekly meetups and events: https://luma.com/user/pubkey (https://luma.com/user/pubkey )
🍔 Check out our food menu (yes, we discount 21% if you pay in BTC!): https://pubkey.bar/menu (https://pubkey.bar/menu )
Est. 735075.
12 Oct 2026
FREEDOM TECH: Bitcoin Self-Custody in the Age of AI (w/ HRF & Keith Mukai)
STREAMING LIVE AT PUBKEY NYC! Tonight, the Human Rights Foundation (https://x.com/HRF ) and PubKey dive into how Freedom Tech and Bitcoin advance humanitarian goals.
In this fireside chat, lead developer of the SeedSigner (https://x.com/SeedSigner ) project Keith Mukai (https://x.com/KeithMukai ) will share the best security practices in self-custodying with hardware devices, the security advantages a DIY hardware wallet with store bought parts can provide, and how human rights defenders who need secure self custody the most can benefit from employing these practices.
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Welcome home. PubKey is a bar and cultural venue located in New York City and Washington DC. (With more locations coming!)
We host FREE & OPEN TO THE PUBLIC events for the curious, the rebellious, and the orange-pilled.
Visit PubKey:
🗽 PubKey NYC 🗽 85 Washington Place 🗽 New York, NY 10011
🇺🇸 PubKey DC 🇺🇸 410 7th St NW 🇺🇸 Washington, DC 20004
🧡 Register for FREE weekly meetups and events: https://luma.com/user/pubkey (https://luma.com/user/pubkey )
🍔 Check out our food menu (yes, we discount 21% if you pay in BTC!): https://pubkey.bar/menu (https://pubkey.bar/menu )Sometimes you want to go where everybody knows your nym.
Est. 735075.
21 Sept 2026
COIN BASED: BRCA, Liquid Hack, Red Team Update
The Coin Based boys are back for another emergency broadcast—this time, officially brought to you by Anchorwatch (https://x.com/AnchorWatch).
Host Thomas Pacchia (https://x.com/tpacchia ) sits down with arbedout (https://x.com/arbedout ), Alex Thorn (https://x.com/intangiblecoins ), and Rob Hamilton (https://x.com/Rob1Ham ) to make sense of current Bitcoin discourse. They cover how much was really stolen from Coldcard and who's still at risk, how a bug let someone mint bitcoin out of thin air on Liquid, whether the person draining it is a "white hat" or an extortionist, and why the CLARITY Act died at the last minute in Washington.
0:00 INTRO: An emergency broadcast on Coldcard, Liquid & Clarity
2:11 Coldcard update: 1,807 bitcoin gone, and the victims left behind
9:29 Is any single hardware wallet safe now?
13:33 Did Coinkite's arrogance make it worse?
17:13 How the attacker actually cracked the wallets
24:52 Could the same bug hit other wallets? (and the Bitfinex parallel)
28:07 Is this the end of the toxic Bitcoin maximalist era?
35:33 Is open source making Bitcoin an easier target?
44:23 How AI supercharged the Red Team's bug hunting
48:22 The Liquid hack: how someone minted bitcoin from thin air
53:22 Who pays for the Liquid hack — and can you prove the coins were yours?
56:22 Is the Liquid hacker a "white hat" or an extortionist?
1:13:06 Why people are furious at Blockstream's response
1:19:17 Should frontier AI models be restricted?
1:22:01 Is Bitcoin's core crypto library secretly backdoored?
1:26:48 What killed the CLARITY Act?
1:36:13 "We pay for this": Thomas on Washington dysfunction
1:39:45 What the BRCA was actually trying to protect
1:44:32 Is quantum computing a real threat to Bitcoin?
1:51:06 How crypto out-lobbied the banks
1:53:44 CONCLUSION: a brutal week, and what comes next
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
Welcome home. PubKey is a bar and cultural venue located in New York City and Washington DC. (With more locations coming!)
We host FREE & OPEN TO THE PUBLIC events for the curious, the rebellious, and the orange-pilled.
Visit PubKey:
🗽 PubKey NYC
🗽 85 Washington Place
🗽 New York, NY 10011
🇺🇸 PubKey DC
🇺🇸 410 7th St NW
🇺🇸 Washington, DC 20004
🧡 Register for FREE weekly meetups and events: https://luma.com/user/pubkey (https://luma.com/user/pubkey )
🍔 Check out our food menu (yes, we discount 21% if you pay in BTC!): https://pubkey.bar/menu (https://pubkey.bar/menu )Sometimes you want to go where everybody knows your nym.
Est. 735075.
Who has been a guest on Pubkey's Bitcoin Thursdays
Names identified in recent episode analyses. Showing up to five guests.
Alex Leishman
Peter McCormack
Conor McCormack
Antoine Poinsot
Alex Gladstein
Reach and audience
Public platform figures. Ratings count people who left a rating, not total listeners.
YouTube views
113,908
Score snapshot 15 Sept 2025
Spotify
5.0 / 5
4 ratings
Podcast Authority Score: 48 / 100
A composite of feed quality, social presence, YouTube performance and engagement. Read the methodology.
Quality
37
Social presence
0
YouTube
86
Engagement
60
Contact Pubkey's Bitcoin Thursdays
Guest appearances
Does not typically book guests
Based on episode analysis; this does not confirm that the show is currently accepting guests.
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