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Researchers cracked open $1.6 million Bitcoin wallet after 20-character password was lost — well worth the six months of effort

Researchers cracked open $1.6 million Bitcoin wallet after 20-character password was lost — well worth the six months of e...
Just don't ask him to do it again.

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Hardware hacker Joe Grand, also known as Kingpin, and his partner from Germany successfully cracked into a 10-year-old crypto wallet by exploiting a flaw in the password manager RoboForm, as requested by the wallet's owner. The owner, Michael, had lost access to his wallet in 2013 and now has access to his 43.6 Bitcoins, valued at over $3 million. Grand, known for his hardware hacking skills, initially turned down the request but later took on the challenge with the help of his friend Bruno, a software hacker. The problem with the wallet arose from Michael's redundant security failing, as the TrueCrypt file where he stored his password corrupted. RoboForm's flaw allowed Grand and Bruno to determine the date and time the password was generated and recreate it, giving Michael access to his account in November 2023. Grand's takeaway from the ordeal is the potential danger behind old passwords made with RoboForm, urging people to replace passwords generated before RoboForm version 7.9.14. Bitcoin will forever be linked with stories of lost passwords and corrupted wallets, and if you want to improve your password safety, check out our list of the best password managers.

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