The Liquid Exploit and the Failure of Shared-Code Security
Explore how a validation flaw exposed federated reserves and what it reveals about custody, software governance, and financial privacy.
Read the analysisResearch area
Security
Commentary on security risks, self-custody, cyber threats, protocol resilience, and the governance of digital systems
Anonymous cooperation and early Bitcoin security
Explore how anonymous group cooperation explains early Bitcoin survival despite extreme mining concentration and vulnerability to majority attacks.
Read the analysis
Formal security of Bitcoin covenant tokens
Explore how neighbourhood covenants and parent-derived identifiers secure fungible Bitcoin tokens against cross-mint joins.
Read the analysis
AI-Driven Red Teaming and the New Economics of Software Security
Explore how AI-driven code auditing is changing software security, open-source risk, custody design, and institutional responses.
Read the analysis
Hardware-Wallet Entropy and Self-Custody Risk
Explore how weak hardware-wallet entropy can defeat air-gapping, evade routine testing, and shift risk into multisignature and recovery.
Read the analysis
Designing a Post-Quantum Signature Fallback for Bitcoin
Explore how hash-based signatures could give Bitcoin a post-quantum fallback while reshaping wallets, fees, custody, and migration.
Read the analysis
Bitcoin’s Post-Quantum Migration Problem
Explore how Bitcoin could adopt post-quantum signatures while managing wallet state, custody, block-space costs, and dormant-coin recovery.
Read the analysis
Bitcoin Self-Custody Vulnerabilities and AI Cybersecurity Shifts
Explore how hardware wallet vulnerabilities and AI-driven cybersecurity threats are reshaping digital asset custody and market maturity.
Read the analysis
Hardware-Wallet Security After a Catastrophic Entropy Failure
Explore how entropy failures, AI-assisted exploits, and custody design reshape hardware-wallet security, trust, recovery, and resilience.
Read the analysis
AI-Assisted Red Teams and the Security of Bitcoin Software
On August 14, 2026, Rob Hamilton told Galaxy's Alex Thorn that a hardware-wallet incident triggered a volunteer effort to scan Bitcoin software for vulnerabilities with AI.
Read the analysis
Hardware-Wallet Security Is an End-to-End Property
On August 7, 2026, You’re the Voice guest Tomáš Sušánka argued that hardware-wallet security depends on complete implementation, active review, and controls that users can operate reliably.
Read the analysis
The Coldcard incident is still unfolding but the lesson is already clear
Over the past few days, the Coldcard failure has moved from an alarming report about a cluster of drained wallets to a much broader custody event.
Read the analysis