bitcoincryptocurrency

The $700 Million Wallet Crack: Bitcoin’s 7th Largest Address Is Under Constant Attack

When we talk about digital currency, Bitcoin naturally becomes the focus of the conversation. it is a prominent cryptocurrency that records all the transactions in a distributed append on the public ledger. And this ledger is called a blockchain. Its security mainly depends on the  Incentive-compatible proof of work which is in short called (p o w). It is mainly based on distributed consensus protocols which are called nodes. Since the launch of  Bitcoin in the year 2009,  this coin has seen enormous growth. It is now worth 170 billion dollars. Eventually, this prominent growth in the market moved the hackers to exploit its weakness. These hackers are constantly busy in the research to discover new ways to crack and hack it. With cryptocurrencies, there are several hazards to your valuable funds especially digital currencies. No such centralized authority takes the responsibility for your fund’s security in this dark market of hackers. You could many expect the dangers as follows; 

  • The wallet may be hacked
  • The PC may be hacked by a virus designed to steal bitcoins.
  • It is possible that you mistakenly write a wrong address in a recipient’s wallet address and send money in the unknown direction with no chance to reverse the transaction.
  • Chances are there that you forget to back up your hardware wallet or accidentally break it and lose your crypto savings.

So nothing could be said for sure.

And presently we have come across some of the biggest hacking news regarding Bitcoin wallets. But if you are here to learn about bitcoin wallets and bitcoin wallet cracked then help yourself visiting bitcoin champion app.

Bitcoin being the seventh-largest crypto coin, its wallets have been the focus of hackers for the last two years. These hackers have been constantly trying to crack its wallet and a specific address that holds around 69,  370  BTC  which is equal to  712 million dollars according to the current exchange rate. A statement by Hudson Rock the CTO of a cybercrime intelligence firm, it was revealed that this wallet was publicized on many hacking forums and the motive was to crack its password.

On bitinfocharts.com  you can find out the list of wallets with significant amounts carrying vast amounts of Bitcoin. This is called Bitcoin rich list.

The purpose behind this list is to highlight the owners of these wallets having a massive amount of bitcoin. During the last  10 years, this list of wallets is displayed with the purpose of record maintenance.

À special report by Vice stated that Hackers Are Trying To Break Into This Bitcoin Wallet due to its extraordinary amount of Bitcoins. A specific file of this Bitcoin address named wallet.dat file was moving among the hackers for around 12 to 24 months. Alon Gal the Chief Technology Officer of Cybercrime firm stated in one of his twitter tweets “Get this”. In his challenging tone, he further says,” The bitcoin wallet holds 69,000 bitcoins. The crackers and hackers have been struggling hard to crack their password for the last two years, still no success. I have the wallet, Google hook me up with a quantum computer please”.

He also revealed that he has received more than 40 direct messages asking him for the password to that specific Bitcoin wallet address.

This address has been selling on multiple websites like Bitcointalk.org. Many among us have seen this file  of wallet  on Santoshidisk.com and All Private Keys

We know that All Private Keys functions as a market where individuals as well as groups can buy some of the files to crack or hack a number of public Bitcoin addresses. 

The platforms like Satoshidisk.com  were selling this file for 0.08929505 Bitcoins. This was seen by 321 people on Santoshidisk.com  that this file was listed to sell on this platform.

It is true that although the hackers have attempted many times to crack the wallet holding 712 million dollar Bitcoins still they are not successful at all. Gall explained further on Twitter. It is possibly a scheme that is crafted to trap someone to “forge a wallet” and it clearly indicates that the address might be empty holding 0 BTC.

 Gal also got some alerts about some methods to forge wallets although he was not clear or confident about its reality. He was not sure if certain techniques are applicable to this specific wallet or not. He further said that we could find out a number of markets that are selling uncracked wallets. They claim that they have some outstanding success to crack the wallets.

There are various views on this selling of Bitcoin wallet addresses.

Some of them are of the view that the sites like All Private Keys are actually selling phony keys and wallets to store BTC. The fact is that there is no parameter to judge whether the market places like All Private Keys are real or just a scam to trap the people sending them empty and locked BTC wallets.

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