Coin Gabbar Token

<h2 id="header-0">Bitcoin wallet security reminder: 12-word seed phrase cracked in 30 mins.</h2>The successful cracking of a 12-word seed phrase by a systems architect highlights the importance of <a href="https://www.coingabbar.com/en/crypto-currency-news/fbi-investigates-bitcoin-wallet-data-ransomware-attackers" rel="noopener noreferrer nofollow">Bitcoin wallet</a> security. Andrew Fraser managed to break the code and win a bounty of 100,000 Satoshi, worth $29, in just under 30 minutes using BTCrecover, a software application available on GitHub.A seed phrase is a string of random words that acts as a master key to a Bitcoin wallet, and this successful hack serves as a reminder of the importance of keeping seed phrases secure and offline.Fraser emphasized that 12-word seed phrases are secure if they remain unknown to attackers, or if a passphrase is used as a 13th seed word in the wallet derivation path.While a 12-word seed phrase has around half a billion possible combinations when the order of the words is unknown, 24-word seeds offer significantly more security with roughly 6.24^24 possible combinations. Fraser stressed that anyone with a basic knowledge of Python scripts and the Bitcoin protocol should be able to replicate his success.<h3 id="seed-phrase-security-is-crucial-for-bitcoin-users-after-a-successful-hack">Seed phrase security is crucial for Bitcoin users after a successful hack</h3>This successful hack is a timely reminder to Bitcoin users to ensure that their seed phrases are never published or shared online, nor stored in password managers or cloud storage solutions. Seed keys should be kept secret, and a passphrase should be used in the derivation path of the <a href="https://www.coingabbar.com/en/crypto-blogs-details/top-6-crypto-wallets-in-2023-best-way-to-secure-your-crypto" rel="noopener noreferrer nofollow">wallet</a> to improve security.The use of seed phrases is not unique to Bitcoin wallets, and they are often used to protect other forms of digital assets. Seed phrases are generated randomly and are designed to be easy to remember, while still providing a high level of security.The importance of seed phrase security cannot be overstated, as once a seed phrase has been compromised, an attacker can sweep the wallet and access all of its funds.Although a 24-word seed phrase may provide enhanced <a href="https://www.coingabbar.com/en/crypto-blogs-details/the-multichain-security-model-mechanism" rel="noopener noreferrer nofollow">security</a>, it is crucial to acknowledge that the likelihood of a hacker cracking a 12-word seed phrase is minimal. Nevertheless, individuals must take all essential measures to safeguard their seed phrases and avoid sharing or posting them on the internet.In conclusion, the successful cracking of a 12-word seed phrase serves as a timely reminder to Bitcoin users to take their security seriously. Users must ensure that their seed phrases are kept offline, and secret and that they use a passphrase in the derivation path of their wallets to improve security. With the ever-increasing value of Bitcoin and other digital assets, it is essential to maintain the highest possible level of security to protect against potential attacks.

Bitcoin Seed Phrase Hack Highlights Wallet Security Risks

목차

Coingabbar

2023년 4월 28일에 게재된 다른 기사

Polygon’s zk IDs: The Solution To a Web3 Identity?

Findora Introduces Triple Masking ZK SDK, Enhancing Privacy and Auditability for dApps

Bitcoin Holds Steady Above $29,000 Despite Banking Unrest and Economic Growth Concerns

🗒 Daily Newsletter | Friday, April 28, 2023

Robinhood reveals fiat-to-crypto on-ramp, competing with Coinbase Pay and MoonPay

How OpenEden Is Bridging A 24 Trillion Dollar Market To DeFi

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!