Connect with us

Blockchain

Hackers Have Been Trying To Crack Bitcoin Wallet Worth $750 Million But Here’s The Catch

Avatar

Published

on

A bitcoin wallet containing a little over 69,000 BTC is doing the rounds in hacking communities all over the internet. The reason? It’s obvious.

Everyone (read seasoned hackers and self-professed bitcoin wallet crackers) wants to break it open and take it all. Or at least, a slice of the almost $750 million pie. For the last two years, however, no one has been able to ‘strike it lucky.’

Hackers Tried Cracking The 7th Largest Bitcoin Wallet In The World

According to cybersecurity expert Alon Gal, who goes by the handle ‘UnderTheBreach on Twitter, hackers have been trying to break open a bitcoin wallet holding around $720 million worth of BTC (considering today’s rates). However, Gal reported that no one has posted any success regarding the same.

As it so happens, the bitcoin wallet in the discussion has the 7th largest BTC stash in the world.

It Is Now Available Online For Everyone To Try

While some folks have tried breaking in themselves, most of them admitting failure has advertised the wallet on online hacking forums for somebody else to do the job.

You Might Also Like:

Alon revealed this to Vice in a one-on-one chat regarding the matter:

Stealing Bitcoin wallets from victims worldwide is a common goal among cybercriminals. Wallets tend to be protected by strong passwords and in the event that a cybercriminal manages to obtain a wallet and cannot crack the password he might sell it to opportunistic hash crackers who are individuals with a large amount of GPU power

Gal noticed one such advertisement on a popular hacking forum RaidForums. And not just hacking portals, the wallet showed up on BitcoinTalk on June 29 last year. After that, on All Private Keys and then Wallet-dat(dot)net.

But Does It Contain The 69,370 BTC Though?

The bitcoin wallet seems like a tough nut to crack. But the important question to ask is – Does it contain the BTC? Although it has an alphanumeric address, it is quite possible that the ‘wallet.dat’ file is ‘doctored.’ There is a public key available but not the private key.

The founder of Wallet Recovery Services, Dave Bitcoin, said that:

It’s possible to doctor a Bitcoin wallet.dat file to make it seem like it contains a high balance. The wallet file contains pairs of public key & encrypted private key of the addresses it controls. So one could modify the file in a binary editor and change the public key of one of the address pairs to that of a high value BTC address.

It may be a bait to beguile folks into making bitcoin payments for a shot at cracking a wallet that doesn’t actually have any BTC.

Breaking In Could Be Impossible

According to another assumption, cracking open this bitcoin wallet may be outright impossible. But why?

Quite possibly, the wallet is protected by a long, unique, and difficult to crack the password. Apart from this, the wallet.dat file may be encrypted using a combination of AES-256-CBC and SHA-512 algorithms. These are super slow to process, making it all the more difficult to ‘brute force’ them open.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited – first 200 sign-ups & exclusive to CryptoPotato).

Click here to start trading on BitMEX and receive 10% discount on fees for 6 months.


Source: https://cryptopotato.com/hackers-have-been-trying-to-crack-bitcoin-wallet-worth-750-million-but-heres-the-catch/

Blockchain

More Australians Invest In Crypto Than In Gold: Survey

Avatar

Published

on

ADVERTISEMENT

More Australians are investing in crypto than in gold and silver as per the new poll that we discuss today in our cryptocurrency news.

The survey of more than 2000 Australian investors found that cryptocurrency is a more popular investment than gold and silver but still has a long way to go before it nears the shares. The poll was conducted on behalf of the BTC markets in February and found that 12.6% of the Aussie investors hold BTC or other cryptocurrencies compared to the 12.1% who hold the metals. On the other hand, the stock market is a preferred option for investors with 63.6% holding shares directly and 28.8% investing in managed funds or exchange-traded funds. The property was also a great investment while 18% said they invested in collectibles.

Australian Crypto Adoption, people, report,

Australian crypto investors favor ETH and BTC with 83.2% holding BTC and 42% holding ETH, followed by Ripple, Litecoin, and Bitcoin Cash. The survey shows that about one-third of the crypto investors made their first investment after the COVID-19 induced market crash and the research was backed with a poll revealing that 39% of the respondents found BTC more appealing after the pandemic started.

ADVERTISEMENT

Despite other cryptocurrencies rallying to a new high in the recent months, More Australians stated that they have no intention of selling their coins with a 31% of them planning to exit after about three years of holding. Of the 49% that are looking to sell or to take profits, one in five investors wants to reinvest. The biggest demographics of Aussie investors were aged between 25-34 following the ones aged between 35-44. Men accounted for 63% of all crypto investors and one in four earned about $100,000 per year.

kilogram of gold, btc, bitcoin, price

BTC Markets CEO Caroline Bowler noted that older Australians are also investing in crypto with investors 60+ doubling in number in the past few years to make up to 10% of the client base:

 “In the last 12 months, we have seen a shift from 25-45-year-old males to a much broader age group, particularly early retirees who are interested in diversifying their investment portfolio and are catching up with this fastest-growing asset class.”

The research was in line with other polls like the one in December that found almost one in five Australian adults owned crypto last year.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/bitcoin-news/more-australians-invest-in-crypto-than-in-gold-survey/

Continue Reading

Blockchain

World’s First Bitcoin ETF Now Holds More Than 10,000 BTC

Avatar

Published

on

World’s First Bitcoin ETF Records Stellar Growth, AUM Crosses Half A Billion Dollars

Advertisement &  & 

The world’s first Bitcoin exchange-traded fund (ETF) has seen massive success in its first week. It has now surpassed the 10,000 BTC milestone for the first time as data from Glassnode shows. The on-chain data analytics firm has the ETF at 10,064 BTC at press time.

Canadian firm Purpose Investment Inc. became the first company to launch a Bitcoin ETF in the North American market. The ETF trades under the ticker symbol ‘BTCC’ and is trading at the Toronto Stock Exchange. It was an instant hit, recording close to $400 million on its first day. This ranked it as one of the top five ETF debuts in the North American market.

The great demand for Purpose’ BTC ETF is proof of pent-up demand in the market, the company’s chief investment officer believes. Speaking to Yahoo Finance, Greg Taylor claimed his company has an edge as it’s open to ordinary investors. Other similar products, including Grayscale’s Bitcoin Trust, are closed-end, only serving institutional investors. 

He stated, “A lot of people have wanted to get exposure to bitcoin but they haven’t really wanted to go through the hoops of opening up their own accounts or their own wallet to do so or trading some of the other closed-end funds. Having the ETF option I think has always been the holy grail out there and we’re happy to have it trading and we’re seeing some of the results of that pent-up demand.”

Taylor further revealed that the demand for BTCC is spread across jurisdictions. “It’s hard with an ETF to figure out exactly where the inflows are coming from, but we’ve had a lot of people reach out from around the world that want to get access to this product,” he remarked.

Advertisement &  & 
World’s First Bitcoin ETF Now Holds More Than 10,000 BTC
Via Glassnode

First Bitcoin ETF Causing Ripples in the Market

Purpose’s Bitcoin ETF has already started causing ripples in the market, despite being around for just a week. One of the effects has been the cooldown in interest for Grayscale’s Bitcoin Trust. For the first time in five years, shares of the Trust traded at a discount.

GBTC shares plunged by 22% yesterday to close the day 3.8% below the value of the Trust’s underlying holdings. The shares have been trading at a premium since its launch in 2013. This premium shot up to 132% in May 2017 at its peak. As recently as mid-2020, this premium was as high as 40%.

Nate Geraci, the president of the advisory firm ETF Store believes this is due to the rise of competing products. He told Bloomberg, “Since the beginning of the year, we’ve seen the launch of multiple competing products. The unpleasant truth for GBTC investors is that competition erodes demand for the product, which can lead to a collapsing premium or even a discount.”

In Canada, the Purpose Bitcoin ETF’s popularity is forcing its rivals to drop their fees to compete. Evolve Funds Group was the second company to launch a Bitcoin ETF, with its product debuting just a day after that of Purpose. However, as Purpose has soared to over $600 million, Evolve Funds is at a mere $28 million. The latter has turned to lower the fees to attract investors.

Evolve lowered the management fee from 1% to 0.75%. Raj Lala, the CEO commented, “We are very pleased to provide investors with the most cost-effective bitcoin ETF today. Our bitcoin ETF allows investors to access physical bitcoin in a fully-regulated manner in their brokerage account.”


Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/worlds-first-bitcoin-etf-now-holds-more-than-10000-btc/

Continue Reading

Blockchain

Bank Of Korea Chief Executive Says Crypto Has No Intrinsic Value

Avatar

Published

on

ADVERTISEMENT

Bank of Korea chief executive says that bitcoin and other cryptocurrencies have no intrinsic value while predicting that the high price fluctuations will remain so let’s see what more he had to say in our latest cryptocurrency news.

The head of the Bank of Korea Lee Ju-yeol said that BTC and other major cryptocurrencies have no intrinsic value but he believes that all assets will continue experiencing major price fluctuations. The Bank of Korea chief executive said that Bitcoin as well as other crytpocurencies, don’t possess inherent value and blasted the volatile nature of the digital asset industry. He commented:

 “There is no intrinsic value in crypto assets.”

south korea trading platforms, exchanges, order, books,
Korean exchanges are under scrutiny with the new legislations.

The news report quoted lawmakers asking BOK’s chief, whether the recent surge in the price of the coin is temporary:

 “It is very difficult to predict the price, but its price will be extremely volatile.”

The bank executive said that the recent rally in the BTC price followed by other digital assets could be led by multiple factors and among them, is Elon Musk who invested $1.5 billion. He also outlined that the latest price surge could be a continuation of the institutional investors using BTC as a hedge. Ju-yeol outlined that the bank should not purchase bonds issued by the country’s government directly because it will raise worries about fiscal stability and will undermine the central bank’s trust. The primary cryptocurrency’s volatility was causing plenty of troubles for both retail and institutional investors.

ADVERTISEMENT

top 5 crypto coins, eth, aave, dot

This type of asset became a stumbling point for many and caused plenty of hesitations in whether to allocate the funds or not. The BTC price managed to make another surge in the past few months and market an all-time high while a few days ago, it skyrocketed above $58K, bringing other altcoins like ETH with it. Almost immediately after the upgrowth, BTC suffered a strong correction and settled around $50k as per the time of writing. As a result, the crypto market capitalization lost about $300 billion in two days. JPMorgan strategists said that the BTC liquidity will bring more problems as analysts from the US multinational banking institution argued that this benchmark cryptocurrency is in a liquidity shortage and warned investors that it will suffer another drop soon.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/altcoin-news/bank-of-korea-chief-executive-says-crypto-has-no-intrinsic-value/

Continue Reading
Blockchain1 day ago

Robinhood Has Added 6 Million New Crypto Users in 2021

Blockchain1 day ago

Coinbase Holds $230 Million in Bitcoin on its Balance Sheet

Blockchain23 hours ago

Robinhood Crypto App Onboards 6 Million Users in Two Months

Blockchain1 day ago

1inch announces expansion to Binance Smart Chain, plans to run BSC node

Blockchain17 hours ago

Guides To Know Before Spending Bitcoin

Blockchain15 hours ago

Claim 20% With Every Deposit At BetChain Casino

Blockchain17 hours ago

1inch DeFi Exchange Deploys Token on Binance Smart Chain

Blockchain2 days ago

The People’s Bank of China joins cross border CBDC pilot.

Blockchain14 hours ago

MDEX skyrockets in DEX environment

Blockchain1 day ago

Binance Launches Solana Staking, Offering Yields Up to 43%

Blockchain2 days ago

Crypto Lending Explained 2021

Blockchain1 day ago

Grayscale’s Ethereum Trust added over 10,000 ETH during price correction

Blockchain15 hours ago

This Week’s Hottest Slots At 1xBit Casino

Blockchain13 hours ago

Dubai Fund Sells $750 Million of Bitcoin to Buy Cardano, Polkadot

Blockchain2 days ago

Student Coin Tokensale Now Live Till April 30

Blockchain1 day ago

Grayscale Bought $60 Million ETH

Blockchain1 day ago

Everything you need to know about the next key support for Bitcoin

Blockchain14 hours ago

Defiqa Takes DeFi to the Next Level

Blockchain2 days ago

177-Year-Old Swiss Bank Adds Bitcoin, Ethereum Trading

Blockchain23 hours ago

The Best Free Crypto Trading Indicator and how to use it.

Blockchain1 day ago

Zaplife Co-Founder: Freedom Within Reach for All

Blockchain1 day ago

Grayscale buys $25 million worth of Ethereum after the price drops to $1600.

Blockchain1 day ago

Ethereum, Polkadot and Cardano can all co-exist says Hoskinson

Blockchain1 day ago

Polkadot, Ethereum Classic, IOST Price Analysis: 25 February

Blockchain16 hours ago

CI Global Files World’s First Ethereum ETF in Canada

Blockchain10 hours ago

Celebrities Who Are Backing Crypto Growth and Adoption

Blockchain2 days ago

Microstrategy buys more than $1 billion in BTC as the firm continues to add to its massive holdings.

Blockchain1 day ago

DeFi Markets Showing Unprecedented Growth in 2021

Blockchain1 day ago

Kraken CEO Says Whales Caused Etheruem’s 50% Dive On The Exchange

Blockchain16 hours ago

Crypto Crash Intensifies as Bitcoin Drops 10%

Blockchain1 day ago

Org Chart: Gemini

Blockchain1 day ago

Coinbase S-1 reveals details of CFTC investigation into 2017 ETH ‘flash crash’

Blockchain1 day ago

How Chainlink’s Newly Launched Oracle Network Upgrade Will Disrupt The World Of DeFi

Blockchain17 hours ago

BC.Game Casino Review

Blockchain14 hours ago

Bitcoin’s price falls below $45,000

Blockchain12 hours ago

FTX Exchange Premiers Tokyo Olympics Futures Contracts

Blockchain9 hours ago

Ethereum ETF to Launch on TSX

Blockchain2 days ago

Trailing Take Profit Explained

Blockchain1 day ago

Supercar maker Mazzanti Automobili launches security token offering

Trending