Bitcoin (BTC) Wallet Used in Puzzle-Solving Giveaway Hacked By Brute Force

Recently, a Bitcoin (BTC) wallet having one BTC has been hacked by the brute force. Reportedly, the wallet was involved in a puzzle-solving community giveaway.

Alistair Milne, the chief investment officer (CIO) at Altana Digital Currency Fund has shared this news saying that his bitcoin wallet which was containing one BTC was hacked on June 17 using brute force during the community giveaway.

1BTC wallet got brute-forced by hackers

As a part of a puzzle-solving giveaway that was being run since May, Milne announced to release in various intervals new clues for solving the 12-word mnemonic seed. To avoid the usage of a brute force program for solving the 12-word seed phrase, he released three clues at a time.

Sharing the whole incident of the hack, Milne said that he found the1 BTC wallet vacant on the morning of Wednesday when he woke up and claimed that the wallet was totally got brute-forced by hackers. He said that hackers must have used more computational power to finish this task. He tweeted:

Woke up to some ‘bad’ news this morning. The 1BTC wallet has been brute forced, which is pretty impressive. They must have rented several GPUs to do it so quickly! I knew I was against the clock but most people thought it would take a few weeks to brute force 4 seed words.

Furthermore, Milne said in a tweet that in order to brute force the wallet, hackers spent only 44 hours. Also, he claimed that a huge miner fee of 0.01 BTC worth $93 was paid because they did not want others to make such kind of attack using brute force.

Milne was really impressed by the hacker because the hacker was able to complete the hack in a quick time.

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Jacob Brown

Jacob a finance graduate, working as a full-time crypto writer. Jacob is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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