How I got back my lost bitcoins? - Davidliam/Edu-Technic GitHub Wiki

Recovering lost Bitcoins is almost impossible. However, we discovered a case, when one of the first cryptocurrency investors, Mike Stay, hacked into the archive and got his cryptocurrency back. Mike Stay is a doctor of computer science and a cryptocurrency expert. He posted an article about hacking an encrypted zip file in which the keys to Bitcoin wallets were stored. You were asked to do this by an anonymous customer who bought cryptocurrencies in 2016 but forgot the password for the file with the keys.

Stay was able to decrypt the zip file and thus restored access to his address for the crypto enthusiast with coins valued at around $ 300,000 at the current rate. That's how it went.

How long does it take to collect a private key from a Bitcoin wallet?

A private key is a 256-digit number that can also be represented as a 64-digit hexadecimal key. The Better Buys website has a service with which you can verify the complexity of your password. What if you enter a private key there and find out how long it will take for hackers to get the password for all your bitcoins?

How to retrieve a seed phrase

How many of us know the private keys of our memory wallets? Some wallets don't even provide private keys, instead of giving opening phrases with which you can restore your wallet in case of unforeseen circumstances. As a general rule, opening sentences consist of 12-16 words that users are encouraged to write on a piece of paper and keep in a safe place. It is impossible to pick up the seed phrase consisting of 12-16 words at random.

We all wrote the seeds on a piece of paper, put them in a safe or a bank cell, and sat satisfied, trusting in the safety of recover lost bitcoin. However, you should always remember that, on the other hand, you can break the wallet.

Almost everyone has wallets installed on a computer or smartphone. You can open them with the simplest password and sometimes with a fingerprint. In turn, hardware cryptocurrency wallets in most cases are protected by a 4-digit PIN code. And how long does it take to steal your bitcoins?

Selecting a 4-digit PIN code does not require more than 5 milliseconds. However, this is provided if you have an infinite number of attempts to try the next combination of numbers.

The Better Buys service even allows you to go back in time to assess the technical capabilities to hack at that moment. For example, in 1992, cracking a PIN code would take a little longer, about 3.5 minutes. Here, it is encouraging that a restriction on the number of attempts has been included in this protection mechanism.

Bitcoin passwords

As for passwords, a string of 7 random digits can be collected in half a millisecond. If you add at least one letter to this line, the hacking period immediately increases to 5 hours. If you use a random 12-letter password, it will take 2 centuries to crack it, even taking into account the most modern technologies.

Another way to increase the complexity of your password is to use a combination of uppercase and lowercase letters, numbers, and special characters.

Conclusion

The most important thing to note from this article: Despite the relative invulnerability of private keys and initial passwords for Bitcoin wallets, you should always remember privacy.

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