These wallets are distinguished from one another using an address that plays the role of a username.
Bitcoin addresses are actually a string ID that has between 26 and 35 alpha-numeric characters.
This wallet can be opened by a private key so that can be used to authorize bitcoin transactions.
If the user loses this private key, they lose their only method of accessing a wallet.
One of the most common practices to choose a Bitcoin wallet is via the Brain Wallet technique.
Now, three researchers have found out a rather simple way to crack the Bitcoin brain wallet passwords.
He was joined by two more researchers from University College London to crack the bitcoin wallet password.
The three researchers used their technique against real-life Bitcoin wallets and managed to crack 18,000 passwords.
Some of the passwords included silly passphrases like:
?
say hello to my little friend
?
to be or not to be
?
party like its 1999
?
for the longest time
?
To check a trillion passwords, it would cost the attacker only $55.86 (49.63).
The researchers have published theirSpeed Optimizations in Bitcoin Key Recovery Attacksresearch paper on International Association for Cryptologic Research website.
source: www.techworm.net
