Topic: Wallet Cracking - are offline wallets like Electrum now reasonably safe or not? (Read 717 times)

t3xasdolly

full member

Activity: 131

Merit: 100

Quote from: Bitcoinwunder on January 15, 2014, 05:13:11 PM

How are they doing that? Is that just regular brute force, or what? They shouldn't be able to crack my 12 random word password, right?

Yes bruteforce is possible if you know a lot about the password, but you just miss something.

You might mispell one or more of the 12 words to be completly sure about the security, and hopefully it is not well known sentence Wink

Bitcoinwunder

member

Activity: 72

Merit: 10

I've seen many FOR-HIRE posts with people advertising Electrum wallet cracking. They kind of confuse me.

How are they doing that? Is that just regular brute force, or what? They shouldn't be able to crack my 12 random word password, right?

I'm thinking of installing Electrum on a macbook and wondered if it's the better option to store coins, or are online wallets - e.g localbitcoins/coinbase - safer? I'm just interested about the cracking issue - not thinking about keyloggers atm.

(Hint: I know that cold storage is probably best - or a laptop that's not connected to the internet, but that's too much hassle for a 'Newbie' like me. Seems like a good choice for someone who has many Bitcoins)

Thank you!

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