XRP holders who rely on hardware wallets for long-term storage are facing renewed questions about how securely private keys are generated.
Crypto researcher Ripple Bull Winkle has used a recent Bitcoin theft involving Coldcard wallets to warn users about the risks associated with wallet firmware and key generation.
In a recent post, Ripple Bull Winkle wrote, “YOUR XRP ISN’T SAFE!!! #Tangem,” before explaining why he believes Tangem offers a different approach to hardware wallet security.
His comments followed the theft of Bitcoin from thousands of wallets connected to a Coldcard firmware vulnerability. The incident initially involved roughly $89 million in Bitcoin drained from 4,585 addresses across three waves, according to Galaxy Research reporting. Attackers did not need physical access to the affected devices because the vulnerable firmware had generated predictable wallet keys.
🚨YOUR #XRP ISN'T SAFE!!! #Tangem pic.twitter.com/uq3XdmP0BV
— Ripple Bull Winkle | Crypto Researcher 🚀🚨 (@RipBullWinkle) August 18, 2026
Coldcard Firmware Vulnerability Raises Concerns
Ripple Bull Winkle highlighted the central issue behind the Coldcard incident, saying a firmware update introduced in 2021 made private keys predictable. He explained that attackers were able to reconstruct the keys remotely and drain thousands of wallets.
The technical investigation supports the central point. A March 2021 Coldcard firmware release caused seed generation to rely on a software-based randomizer instead of the device’s intended hardware randomness. This reduced the security of certain generated seeds and allowed attackers to search for possible keys offline using information available from the public blockchain.
The scale of the incident also increased after the initial reports. By early August, researchers had identified a fourth wave that potentially pushed the theft to approximately 1,816 BTC, worth about $114 million at the time, across more than 5,200 addresses.
Ripple Bull Winkle Points to Tangem
Against that background, Ripple Bull Winkle presented Tangem as an alternative for XRP holders. He emphasized that Tangem generates the private key directly on the physical card using what he described as certified hardware randomness.
According to his explanation, the private key does not leave the card, while the system does not depend on a traditional software layer for key generation. He also highlighted the absence of a conventional seed phrase in Tangem’s setup and compared the security technology to standards used in passports.
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The researcher therefore focused on the distinction between a device being physically disconnected from the internet and the security of the process used to generate its private keys. The Coldcard incident demonstrated that offline storage alone cannot protect funds if the original key-generation process produces predictable credentials.
For XRP holders, Ripple Bull Winkle’s warning centers on this specific security consideration. His message is not simply about keeping a wallet away from the internet. It focuses on how a wallet creates, stores, and protects the private key controlling the assets. The recent Coldcard incident has provided a real-world example of why those technical details matter when choosing a method for storing XRP.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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