John Cantrell assures the public that Bitcoin is safe despite the fact that he hacked his Bitcoin wallet.
The developer of Bitcoin and Lightning Network projects, recently revealed that he has successfully hacked Bitcoin addresses. His article, however, received a number of responses with many conclusions that Bitcoin is unsafe. Cantrell felt that people were losing their training points, in a tweet on June 19, explaining and assuring people that despite hacking their wallets, Bitcoin was safe.
It takes forever to break the wallet
According to Cantrell, bitcoin stored in a wallet made from 12-word mnemonic is safe. The only reason he was able to hack Bitcoin’s wallet was because the owner of the wallet publicly revealed 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.”
The only way Bitcoin is not safe is when the words of the seed are revealed. “Your bitcoin is safe. 2 ^ 128 is a TRUE number. Don’t let anyone else approach your words,” he said.
Need to know more about Cryptocurrency and Bitcoins without being scams? Click here
Other articles you might like to read: