Our commitment to Bitcoin, beyond mining.
Inside Unchained's Coldcard Emergency Response | UNCHAINED COFOUNDER
Since the Coldcard exploit first was exposed, nearly 9000 bitcoin (≈$500M) have been moved out of vulnerable Coldcard multisig wallets through MARA's Slipstream — with the largest majority coming from clients of the collaborative custody firm Unchained.
Unchained co-founder and CSO Dhruv Bansal walks Head of MARA Foundation Isabel Foxen Duke through how the response came together — including:
• why multisig users faced a different risk than single-signature holders
• how Slipstream’s private mempool shielded vulnerable wallets
• and how security practices for users and builders will have to change to prevent future exploits
TIMESTAMPS:
00:00 — Intro, and the scale of the response
02:53 — What is Unchained and who was exposed
09:45 — Mempool, RBF, and Slipstream
13:16 — The ongoing race, and multi-vendor multisig
19:28 — The first hour after the exploit
25:25 — Challenging logistics after the exploit
29:45 — Self-custody analysis after the exploit
33:04 — Audits, culture, and the future of Coldcard
37:14 — Why the warnings were missed
41:57 — Security marketing: the "Ferrari with a lawnmower engine”
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We have a unique obligation to protect and nurture the health of the protocol our miners help secure.
Fred Thiel — Chairman and CEO, MARA Holdings
Our mission
MARA Foundation represents MARA's ongoing strategic commitment to Bitcoin—and our belief that Bitcoin is the most important emerging technology for self-sovereignty and human freedom in the world.
Through internal initiatives and external partnerships, we'll activate programs to advance Bitcoin education, accessibility and R&D.
Where we focus
Financial
Freedom
Enabling financial sovereignty worldwide
Around the world, particularly across the Global South, Bitcoin is being used as a tool to escape financial oppression in jurisdictions affected by hyperinflation, confiscatory policy, and restrictions on financial freedom. We are committed to supporting communities using
Bitcoin to expand access to sound money and strengthen local economies.
COMMUNITY
EDUCATION
Making Bitcoin usable through understanding
We believe informed participants build stronger networks and more resilient systems. The Foundation is dedicated
to creating and supporting spaces for Bitcoin education, from policy makers and industry professionals to developers and first-time users, in the languages and communities where it's needed most.
FUNDING
BUILDERS
Opening Bitcoin to those who need it most
Anti-Bitcoin regulation, gaps in infrastructure, and weak technical tooling keep the network out of reach for the people who would benefit from it most. We engage policy makers in support of pro-Bitcoin regulation, and are committed to advancing easy-to-use tooling and expanding access worldwide.
FUTURE
PROOFING
SECURITY
Preparing Bitcoin for the quantum era
Quantum computing is not an immediate threat to Bitcoin. But because the network evolves deliberately and upgrades take time, early preparation matters. We
support research and development of quantum-resistant tools, including proposals like BIP 360 — co-authored Isabel Foxen Duke (MARA),
as well as the development
of quantum-resistant technical tooling
(e.g. PQ wallets).
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