michael stay hacks zip file over 300000 btc
Former Google Engineer Claims To Hack Zip File Containing Private Keys To Over $300,000 BTC
April 6, 2020
michael stay hacks zip file over 300000 btc
Former Google Engineer Claims To Hack Zip File Containing Private Keys To Over $300,000 BTC
April 6, 2020

Michael Stay, a former software engineer with Google and the current CTO of smart contract and decentralized application (Dapp) firm, Pyrofex, claims to have successfully hacked a zip file containing the private keys to over $300,000 in Bitcoin (BTC).

In a blog post, Stay says that his journey began when he received a message from “a Russian guy” on LinkedIn about six months ago. The Russian had read a paper authored by Stay in 2000 describing a technique that he had used to successfully attack zip files.

“He had read that paper I’d written 19 years ago and wanted to know if the attack could work on a file with only two files, Stay writes, adding:

“A quick analysis said not without an enormous amount of processing power and a lot of money. Because I only had two files to work with, a lot more false positives would advance at each stage. There would end up being 273 possible keys to test, nearly 10 sextillion. I estimated it would take a large GPU farm a year to break, with a cost on the order of $100K. He astounded me by saying he could spend that much to recover the key.”

The files contained the private keys to what had been roughly $12,500 in BTC when the Russian purchased the coins during 2016. “Now they were worth upwards of $300K and he couldn’t remember the password,”

ALSO READ :  Kirobo Finds A Way To Tackle Problems Related To Human Error In Bitcoin Transactions

Stay continues:

“Luckily, he still had the original laptop and knew exactly when the encryption took place. Because InfoZip seeds its entropy using the timestamp, that promised to reduce the work enormously—”only” 10 quintillion—and made it quite feasible, a matter of a couple of months on a medium GPU farm.” 

We made a contract and I got to work,” he adds. After several months of testing, including the discovery of a bug in his GPU farm, Stay claims to have cracked the file and returned the private key to the Russian.


Source: Cointelegraph.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!