Crypto Apps, Crypto Tech, Fraud and Scams

Digital Wallet with $700 worth of Crypto shared with everyone

Cyber terrorists worldwide have increased their attempts to challenged themselves to hack into a bitcoin (BTC) wallet that is believed to contain a value of more than USD 700 million worth of crypto.

This digital wallet target could be the seventh most precious globally and contains BTC 69,370 (USD 714m), as disclosed in BitInfoCharts data.

However, its owner may be panicked to learn that hackers have commenced passing around the wallet’s address on discussions from different forums.

And the race started for the valuable bounty therein

The Chief Technology Officer at cyber intelligence company Hudson Rock, Alon Gal, informed Vice magazine’s Motherboard that he had noticed the wallet, whose address is 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx, had grown as a hot topic of discussion on popular hacking site RaidForums.

Gal said,

“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 graphics processing unit (GPU) power.”

And Gal added that;

“In the case of this bitcoin wallet, it seems that it had been circulating for a while with no luck to those who attempt cracking it.”

With this being said, it could also be feasible that the wallet does not contain the crypto-treasure worth of millions after all. Rather, specialists insist that there is a possibility it was modified to make it look as though it has the 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx address.

Nevertheless, these so-called cyber rogues may have ensured that it does not match up with the identical private key needed to recover the prized holdings.

It’s possible to doctor a bitcoin wallet.dat file to make it seem like it contains a high balance,” said the head of the crypto services firm Wallet Recovery Services.

The firm’s chief noted,

“The wallet file contains pairs of public keys and 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.”

Last November 2019, crypto research and analysis provider Coin Metrics released in the data they have analyzed that as of block 600,000 on the Bitcoin blockchain – almost BTC 1.5 million was assumed lost due to various reasons.

Leave a Comment

Leave a Reply