In a trial of tense decoding skills, Bitcoin and Lightning Network project developer, John Cantrell, successfully hacked a BTC address by scrutinizing around a trillion seed combinations over the course of 30 hours.
The challenge was accomplished as a part of a competition launched on Twitter by Alistair Milne — the CIO of the Atlanta Digital Currency Fund. How did he do it? Simply doing published hints to a 12-word Bitcoin wallet seed over the course of numerous days, Cantrell was successful in brute-forcing the mnemonic with only 8 out of the 12 words, eventually claiming the 1 BTC prize contained inside.
The developer explained: “I was worried about people doing an equivalent and is why I included a .01 BTC miner fee. I didn’t think even this is able to be enough and thought there might be a ‘race to zero’ where people continually increased the fee trying to urge the miners to incorporate their transaction within the next block.”