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Satoshi-era Bitcoin Wallet Hacked by Researchers to Unlock Huge Fortune
Alex Dovbnja
Famous hardware hacker Joe Grand managed to access a software wallet
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Joe Grand, a prominent hardware hacker, managed to access a cryptocurrency wallet containing $3 million worth of Bitcoin, The Wired relationships.
Grand managed to crack a password in the wallet after being contacted by an unlucky European cryptocurrency holder.
An encrypted file storing the wallet’s RoboForm-generated password was corrupted, preventing the holder from accessing his Bitcoin fortune initially acquired in 2013.
Grand, known as “Kingpin” in the hacker community, gained popularity after appearing in “Prototype This!” in 2008. He appeared on the show along with other investors such as Terry Sandin and Doc North.
This is not the first time Grand has accessed crypto wallets. In 2022, he managed to force a Trezor hardware wallet to reveal his password. That said, it usually rejects such requests from cryptocurrency owners for various reasons.
Deciphering the password generated by RoboForm was more complicated because the European owner was using a software wallet. Various cryptocurrency experts told him that it was impossible to recover the Bitcoin fortune.
To hack this software wallet, Grand worked with his German friend to reverse engineer the exact version of RoboForm used to generate the lost password. Fortunately for the owner, it turned out that the version had a serious flaw that made the password generation process not entirely random. In fact, it was relatively easy to guess the password generated on a specific day.
The fact that the owner did not remember the exact day the password was generated complicated the process, but Grand and his friend managed to define the correct time frame.
The owner now says he was lucky to lose access to his wallet as his Bitcoin has appreciated greatly in recent years. He is now waiting for the cryptocurrency to reach six figures.
About the author
Alex Dovbnja
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience covering everything related to the burgeoning industry, from price analysis to Blockchain disruption. Alex has authored more than 1,000 stories for U.Today, CryptoComes, and other fintech media. He is particularly interested in regulatory trends around the world that are shaping the future of digital assets; he can be contacted at alex.dovbnya@u.today.