Researchers Describe an Easy Way to Crack Bitcoin Brain Wallet Passwords
The Bitcoin wallet has been cracked. In a research paper, three researchers have claimed that the Bitcoin brain wallet password can be accessed for less than €49.63 euros or about $55.86 US dollars. Bitcoin first arrived in 2008 on a white paper presented on the Internet by the unknown Satoshi Nakamoto. It was released as a cryptocurrency which would allow anonymity in peer-to-peer transactions without geographical border restrictions or government interference. The basic premise is that Bitcoin would be utilized via the Bitcoin wallet with a secure password protocol, both for the sake of....
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The so-called “brain wallets” have always been a topic of heavy debate in the Bitcoin world, as this solution to store funds is far from secure. Memorizing passwords is hard enough for people, but there are bigger worries with brain wallets than most people anticipate, according to a new study. Despite the idea of a brain wallet using cryptography to add....
Out of 1,021 U.S.-based crypto owners, one-third have already fallen for a crypto scam via emails, websites and fake mobile apps. The importance of storage and passwords is best known by crypto enthusiasts who know how easy it is to lose access to their digital assets. A recent survey conducted by Cryptovantage named “Coin Storage Security: A closer look at crypto storage and passwords” aimed to identify investors’ sentiment toward the safekeeping of their crypto investments. Based on 1,021 United States-based cryptocurrency owners’ responses, most choose to store their digital investments....
The bitcoin marketplace, LocalBitcoins, has reportedly been hacked by a malicious agent who claims to have the full database of usernames and passwords. So far, the hacker has only posted an alleged partial list for sale on Satoshibox and it remains unknown if there is a larger list being sold. There is a belief among some that this is simply a hoax as the very same person who is claiming to be the hacker has apparently tried to sell a fake “bitcointalk.org database” in the past. Below is a partial quote of the original post on Bitcointalk forum: For sale in here is the Localbitcoins.com....
For those CoinDesk readers who have started trading with Bitcoin, there is the inevitable concern of how to protect ones' wallet. The so-called wallet is a simple data file that contains a set of Bitcoin (or insert your preferred currency here) addresses. That's all you need to keep your Ecoins with you. The block chain is copied to every single client has a list of every single transaction and balance for your given currency, e.g. Bitcoin. The security of the wallet depends on the security of your computer or smartphone. What if you could embed your money inside your mind? We explain how....
Motor Memory is in the palm of your hand. From your various wallet passphrases to online login accounts, the need for strong passphrases, today, is imperative and this article will show you how to easily create passwords of above-average strength. Not only will you be able to generate stronger passwords on the fly, but the unprecedented techniques, such as the Motor Memory Passphrase, proposed in this article will simplify your task of creating memorable passphrases that are suitably unique, yet simple. As simple as tapping your fingers on a desk. If you've read Part One: Strong Passwords....