Comment on Authorities hack cryptocurrency seed phrase

Technus@lemmy.zip ⁨1⁩ ⁨month⁩ ago

Most likely written down somewhere. The seed phrase is the backup method of storing a private key to a crypto wallet. You’re supposed to put it somewhere safe as a way to recover the wallet if the normal way to access it (a software app or a hardware device) fails.

Brute-forcing a full 12 or 24 word phrase would take centuries to millennia, so there’s only a few possibilities:

  1. They just found the full phrase written on a card in a safe somewhere, in which “deciphering” it is as simple as typing it into a fucking wallet app;
  2. He was smart enough to split the phrase up and keep different parts of it in different places, so they might have had to brute-force part of it;
  3. They found a hardware wallet and hacked into it to recover the phrase;
  4. (exceedingly unlikely) they figured out that the random number generator he used to generate the phrase was broken and had predictable output patterns.

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