SlowMist Warns Users to Check Wallets for Ill Bloom Vulnerability

• SlowMist urges users to check older wallets for possible Ill Bloom vulnerability exposure.
• Coinspect links weak seed generation to over $5 million in reported crypto losses.
• Hardware wallets appear safe while older mobile software wallets face higher risk.

Blockchain security firm SlowMist has urged cryptocurrency users to verify whether their wallet addresses are affected by the newly disclosed Ill Bloom vulnerability. The warning follows responsible disclosure from Coinspect, which identified weak randomness in seed phrase generation that may expose thousands of wallets to unauthorized access across multiple blockchain networks.

SlowMist Urges Users to Verify Older Wallet Addresses

SlowMist announced that it is closely monitoring the Ill Bloom wallet vulnerability after blockchain security firm Coinspect published its findings. The security company encouraged users to review historical wallet addresses using the public checker released by Coinspect.

According to SlowMist, users should determine whether previously created wallets are affected before attackers exploit the weakness. The firm also thanked Coinspect for responsibly disclosing the issue instead of releasing complete exploit details immediately.

Coinspect explained that the vulnerability stems from weak randomness during recovery phrase generation in certain software wallets. Consequently, attackers may predict wallet seed phrases more easily than intended and gain unauthorized access to affected accounts.

The company reported that wallets generated as early as 2018 could remain vulnerable today. Furthermore, researchers found evidence suggesting that some affected wallets were created only weeks before the disclosure, indicating the problem is still active.

The vulnerability reportedly affects wallets across Bitcoin, Ethereum, Polygon, Rootstock, Tron, and Solana networks. However, Coinspect noted that additional blockchain ecosystems could also contain exposed wallet addresses requiring further investigation.

Ill Bloom Flaw Linked to Millions in Crypto Losses

Coinspect estimated that at least $5 million in cryptocurrency has already been drained from wallets affected by the Ill Bloom vulnerability. The firm stated that an attack beginning on May 27 compromised 431 wallets from a reviewed group of 2,114 vulnerable addresses.

Researchers said those incidents accounted for approximately $3.1 million in losses. Meanwhile, another $2 million reportedly moved from exposed wallets during the latest weekend, increasing the known financial impact.

Despite the growing losses, Coinspect stated that hardware wallet users do not currently appear to be affected. Likewise, most widely used software wallets have shown no evidence of vulnerability based on available research.

Instead, the investigation indicates that lesser-known mobile software wallets present the highest potential risk because of weaker seed generation methods. Even so, Coinspect has not identified every affected wallet application.

The company withheld technical exploit details to reduce ongoing risks while encouraging users to verify wallet addresses through its online checker. Users with exposed wallets are advised to transfer assets into newly generated wallets created with trusted software or hardware devices rather than reuse existing recovery phrases.

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