Lost And Found: Hackers Successfully Access Decade-Old Bitcoin Wallet, Retrieve $3 Million



In
an
extraordinary
turn
of
events,
two
hackers
have
successfully
cracked
the
long-forgotten
password
of
a
digital
wallet,
leading
to
the
recovery
of
approximately
$2
million
worth
of
Bitcoin
(BTC). 


Lost
Bitcoin
Fortune
Unlocked


As


reported


by
Wired,
the
story
began
in
2013
when
an
individual
known
by
the
alias
“Michael”
securely
stored
his
Bitcoin
holdings
in
a
password-protected
digital
wallet.
Unfortunately,
over
time,
he
lost
access
to
the
wallet
due
to
a
corrupted
file
containing
the
20-character
password
generated
using
the
RoboForm
password
manager.

How To Get Free Crypto  


D
espite
his
efforts
to
prioritize
security,
Michael’s
concerns
about
potential
hacking
led
him
to
refrain
from
storing
the
password
in
his
manager,
inadvertently
locking
himself
out
of
his
fortune.


Related
Reading


Enter
Joe
Grand,
a
renowned
electrical
engineer
and
hardware
hacker,
popularly
known
as
“Kingpin.”
In
2022,
Grand
gained
recognition
for
aiding
another

cryptocurrency
wallet
owner
in
recovering
$2
million
worth
of
digital
assets
after
forgetting
the
PIN
to
his
Trezor
wallet.
Since
then,
numerous
individuals
have
approached
Grand
seeking
his
expertise,
but
he
selectively
chooses
his
projects.


Michael
initially
approached
Grand
two
years
ago,
seeking
assistance
in
recovering
his
lost
Bitcoin.
However,
due
to
the
unique
challenges
posed
by
a
software-based
wallet,
Grand
declined
the
request. 

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Nonetheless,
Michael
persisted,
and
last
June,
Grand
agreed
to
give
it
another
shot,
teaming
up
with
a
fellow
hacker
named
Bruno
from
Germany.


Months
of

reverse
engineering
led
Grand
and
Bruno
to
a
significant
breakthrough.
They
discovered
a
flaw
in
the
pseudo-random
number
generator
used
by
the
RoboForm
program,
which
was
employed
by
Michael
in
2013. 


The
flaw
tied
the
generated
passwords
to
the
date
and
time
on
the
user’s
computer,
making
them
predictable.
Armed
with
this
knowledge,
the
hackers
devised
a
plan
to
exploit
the
flaw
and
crack
the
password.


The
major
hurdle
in
this
process
was
Michael’s
inability
to
recall
the
exact
date
when
the
password
was
generated.
However,
armed
with
the
knowledge
that
Bitcoin
had
been
moved
into
the
wallet
for
the
first
time
on
April
14,
2013,
Grand
and
Bruno
configured
RoboForm
to
generate
passwords
within
a
specific
time
frame,
utilizing
the
parameters
used
by
Michael.

FreeBitcoin Banner  


From
Forgotten
To
Found


Despite
initial
failed
attempts,
Grand
and
Bruno
persisted,
adjusting
the
time
frame
and
parameters
until
they
finally
struck
gold.
On
November
15,
2023,
they
discovered
the
correct
password—20
characters
long
and
generated
on
May
15,
2013.
The
long-lost
Bitcoin
treasure
was
finally
within
Michael’s
grasp.


However,
the
report
notes
that
the
successful
recovery
of
Michael’s
assets
raises
concerns
about

password
security,
particularly
for
users
who
generated
passwords
using
earlier
versions
of
RoboForm. 


While
Siber
Systems,
the
company
behind
RoboForm,
claims
to
have
fixed
the
flaw
in
2015,
questions
remain
about
the
vulnerability
of
older
passwords.
Grand
stresses
the
importance
of
understanding
the
improvements
made
to
password
generation
in
newer
versions.


Related
Reading


Having
access
to
his
Bitcoin
once
again,
Michael
experienced
a
stroke
of
luck.
He
waited
for
the
value
of
Bitcoin
to
rise
before
selling
a
portion
of
his
newfound
fortune.
With
30
BTC
currently
valued
at
$3
million,
Michael
eagerly
anticipates
the
potential
for
even
greater
returns
as
he
aims
for
a
future
surge
to

$100,000
per
coin.

The
daily
chart
shows
BTC’s
price
consolidating.
Source:

BTCUSD
on
TradingView.com


As
of
press
time,
the
largest
cryptocurrency
on
the
market
is
trading
at
$68,200,
consolidating
for
the
past
week
below
the
key
$70,000
threshold
that
is
crucial
to
BTC’s
uptrend
prospects.  


Featured
image
from
Shutterstock,
chart
from
TradingView.com 

Go to Source
Author: Ronaldo Marquez


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