Private Key Hacked by brute force, Entire Wallet Drained - page 2.

RawDog

legendary

Activity: 1596

Merit: 1026

Quote from: Flyskyhigh on February 09, 2017, 02:21:13 PM

Has this ever happened before?

Quote

Private Key Hacked by brute force

We are working on this now. We are devising an algorithm that exploits certain weaknesses to get to address keys. More on this later.

The scientific answer to your question is 'Yes'. But it is challenging.

Uberse

member

Activity: 132

Merit: 12

Quote from: AGD on February 09, 2017, 03:03:34 PM

I just hacked this Adress in a second: 12AKRNHpFhDSBDD9rSn74VAzZSL3774PxQ

Private Key is:
5JdeC9P7Pbd1uGdFVEsJ41EkEnADbbHGq6p1BwFxm6txNBsQnsw

Oh, you mean it was a brain-wallet address generated by a simple phrase.

DannyHamilton

legendary

Activity: 3472

Merit: 4801

Quote from: Flyskyhigh on February 09, 2017, 02:21:13 PM

Has this ever happened before?

With a properly generated private key?

No.

Quote from: Flyskyhigh on February 09, 2017, 02:21:13 PM

If there becomes 100 trillion wallets in use, do you think finding a wallet with a balance will become common?

100 trillion is a VERY small number. The answer to your question is no.

Quote from: Flyskyhigh on February 09, 2017, 02:21:13 PM

Is the current private key secure enough to last 10,000+ years?

Assuming that no new weaknesses are discovered in the ECDSA, SHA256, and RIPEMD160 algorithms, the current private key is secure enough to last more than 14 billion years (note that the entire universe is probably less than 14 billion years old right now).

If weaknesses ARE discovered in any of those algorithms, then the algorithm can be replaced before weaknesses are discovered in any of the other two.

Quote from: Flyskyhigh on February 09, 2017, 02:21:13 PM

Is there a way to scale up the security of the generated private keys somehow if needed someday?

Yes, but it might require a hard fork.

Diver6691

newbie

Activity: 54

Merit: 0

100 trillion addresses = 10^14
All possible addresses about 10^48

10^48 / 10^14 = 10^34

Each time you generate a new address you have 1 in 10^34 to find any one of those 100 trillion addresses

BitcoinBarrel

legendary

Activity: 2062

Merit: 1035

Fill Your Barrel with Bitcoins!

They have done the calculations and always shows it is more Profitable to mine BTC with the hashpower than attempt to crack a wallet. Even generating new wallets hoping to find Bitcoins is less likely than mining a block. The chances are Ridiculous tiny (not in your lifetime).

7queue

full member

Activity: 177

Merit: 100

Quote from: Flyskyhigh on February 09, 2017, 02:21:13 PM

Has this ever happened before?

Follow-up questions:
If there becomes 100 trillion wallets in use, do you think finding a wallet with a balance will become common? Is the current private key secure enough to last 10,000+ years?

Is there a way to scale up the security of the generated private keys somehow if needed someday?

I don't have my English to Nerd translator handy, butt is your query about the probability of bitcoin address collisions?

https://bitcointalksearch.org/topic/what-are-the-chances-of-an-address-collision-and-what-happens-when-it-does-104461 "What are the chances of an address collision? and what happens when it does?"

Did this actually happen to you? All your coins stored in one address? Or was the wallets password compromised?

8 )

AGD

legendary

Activity: 2070

Merit: 1164

Keeper of the Private Key

I just hacked this Adress in a second: 12AKRNHpFhDSBDD9rSn74VAzZSL3774PxQ

Private Key is:
5JdeC9P7Pbd1uGdFVEsJ41EkEnADbbHGq6p1BwFxm6txNBsQnsw

So. Yes this has happened before.

Flyskyhigh

sr. member

Activity: 291

Merit: 250

Ezekiel 34:11, John 10:25-30

Quote from: ?? on ??

Private keys cant get common at all .it has a specific algorithm and it has probability to zero .it is not a bug of bitcoins wallet .it generates at a high pace with accuracy because it is a machine .and the wallet can get hacked and i dont think u can get it back because its untraceable .

I don't think you understand my questions. And looking for a non-newbie to answer them. (No offense)

Flyskyhigh

sr. member

Activity: 291

Merit: 250

Ezekiel 34:11, John 10:25-30

Has this ever happened before?

Follow-up questions:
If there becomes 100 trillion wallets in use, do you think finding a wallet with a balance will become common? Is the current private key secure enough to last 10,000+ years?

Is there a way to scale up the security of the generated private keys somehow if needed someday?

Topic: Private Key Hacked by brute force, Entire Wallet Drained - page 2. (Read 7164 times)