Developer John Cantrell Says Bitcoin Is Still Safe Even After He Successfully Hacked Bitcoin Wallet
Developer John Cantrell Says Bitcoin Is Still Safe Even After He Successfully Hacked Bitcoin Wallet
June 22, 2020
Developer John Cantrell Says Bitcoin Is Still Safe Even After He Successfully Hacked Bitcoin Wallet
Developer John Cantrell Says Bitcoin Is Still Safe Even After He Successfully Hacked Bitcoin Wallet
June 22, 2020

John Cantrell, the Bitcoin and Lightning Network project developer, has said that Bitcoin is still safe even after he successfully hacked a Bitcoin wallet by explaining and ensuring people in a tweet thread on June 19.

It has been reported that according to Cantrell, Bitcoins stored in a wallet generated from a 12-word mnemonic is secure, as the only reason why he was able to hack the Bitcoin wallet was that the wallet’s owner publicly exposed eight words from his 12-word mnemonic seed.

He explained: 

“It would take the same system that brute forced the last 4 words of his mnemonic 837 quintillion millennium to brute force all possible 12 word mnemonics […] if you know as few as 5 words. To brute force all 12 words (just to break even on your $100B investment, assuming you can actually liquidate all the BTC) still takes 422 TRILLION YEARS.”

However, the only way Bitcoin is not secure is when seed words are revealed.

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Thus, he concluded:

“Your bitcoin is safe.  2^128 is a REALLY big number. Just don’t let anyone near your seed words.”

Source: Cointelegraph | Image: Comparitech


 

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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.