• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Hackers' Help in Accessing Lost Bitcoin Wallet

user avatar

by Giorgi Kostiuk

a year ago


An intriguing development unfolded when hackers assisted in cracking the password of an untended Bitcoin digital wallet, facilitating the recovery of substantial assets worth millions. Through their expertise in cryptography, the hackers underscored the criticality of robust password protection measures.

Support Provided by Hackers

In 2013, 'Michael' placed 43.6 BTC, valued at $5,300 back then, into a secure wallet shielded by a password. A malfunction ensued, blocking his access to the funds. Despite seeking professional guidance, he was informed that the password was indispensable for asset retrieval.

This narrative took a positive turn when two hackers, Grand and Bruno, intervened. Leveraging their cryptographic acumen, they delved into the task of recovering the lost password. Their meticulous examination of the RoboForm password program yielded a breakthrough.

Unveiling the Password Retrieval Method

The hackers unveiled that the passwords crafted by RoboForm weren't entirely random but were influenced by the computer's date and time settings. By honing in on the likely password creation date by Michael and considering specific character constraints, they simplified the password decryption process.

Although Michael's memory failed regarding the password creation date, focusing on the date of the initial Bitcoin transfer to the wallet led to success. By November, they managed to unlock the wallet instituted on May 15, 2013, devoid of special characters.

Essential Insights for Users

Here are pivotal lessons to derive from this incident:

  • Safeguard and store digital wallet passwords securely in various safe locations.
  • Opt for password managers with robust recovery and backup functionalities.
  • When facing digital wallet accessibility issues, seek assistance from reputable cryptography experts.
  • Maintain records of significant password creation information for future utility.

Following the access recovery, Michael's Bitcoin had surged to $38,000. He waited for the price to hit $62,000 before contemplating the liquidation of some assets. Presently, his Bitcoin holdings are valued at over $2 million, based on a per-BTC price of $68,300.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Software Developers Spent 19% More Time Working with AI Than Expected

chest

METR study reveals experienced developers took 19% longer when using AI tools than previously anticipated.

user avatarGiorgi Kostiuk

Trump and Cryptocurrency: A New Wave of Optimism

chest

Donald Trump has shifted his stance on cryptocurrencies, praising their achievements amid evolving economic realities.

user avatarGiorgi Kostiuk

Copper Tariff Implications for American Manufacturers

chest

US copper buyers brace for potential 50% duties on processed copper, raising manufacturing costs.

user avatarGiorgi Kostiuk

YZi Labs and 10X Capital Join Forces to List BNB on U.S. Exchange

chest

Partnership between YZi Labs and 10X Capital provides regulated access to BNB for institutional investors, enhancing interest in cryptocurrencies.

user avatarGiorgi Kostiuk

Why Coinbase Stocks Are Rising: Reasons and Forecasts

chest

Coinbase stocks have significantly increased amid a surge in interest for cryptocurrencies. Analysts predict further growth.

user avatarGiorgi Kostiuk

Removal of U.S. Crypto Broker Reporting Rules: What It Means?

chest

The removal of crypto broker reporting rules in the U.S. may simplify crypto taxation and reduce market compliance burdens.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.