How long does it take hackers to hack your Bitcoin wallet and steal cryptocurrency?

Do you not think that we trust simple passwords too much in our lives, and recently also private keys that protect our wallets with crypto currencies? If the attacker has your private key in his hands, consider that you gave him your Bitcoins. How long do you think it takes for him to take possession of your password or wallet key?

How long does it take to pick up Bitcoin Purse ‘s private key?

Let me remind you, a private key – or private key, as it is called in cryptography outside of cryptospace – is a 256-digit number that can also be represented as a 64-digit hexadecimal key.

Not long ago, Better Buys launched a new service to check the complexity of its password. And what if you enter a private key there and find out how long it will take hackers to find a “password” from all your Bitcoins?

Source: Better Buys

I N F I N I T Y! And indeed, we will learn on the site only that it is impossible to crack your private key by simple selection. However, let us lag behind the celebrations for now.

What about a sid phrase to rebuild your wallet?

Which of us knows by heart the private keys to our wallets? Some wallets do not even provide private keys themselves, instead they give out sid phrases with which to restore the wallet in case of unforeseen circumstances. As a rule, sid phrases consist of 12-16 words, which users are invited to write on paper and store in some safe place.

And again, when testing a randomly generated key for an empty purse, the service issued the coveted word “Infinity.”

Okay, but are there more specific numbers?

Source: Unsplash

Of course, all of us (in fact, not) wrote down the seats on a paper, put in a safe or in a bank cell and sit satisfied, confident in the safety of our Bitcoins. However, you always have to remember that you can crack the wallet from the other side. For example, almost all of us have wallets installed on a computer or smartphone. And at the same time it will be possible to open them with the help of the simplest password, and sometimes with a fingerprint. In turn, hardware crypto-currency wallets are in most cases protected by a 4-digit PIN code. How long will it take to steal your bitcoins?

Bad news. A 4-digit PIN requires a maximum of 5 milliseconds to match. However, this is provided that you have an infinite number of attempts in reserve to sample another combination of digits. By the way, the Better Buys service even allows you to return to the past to assess the technical possibilities for hacking at that time. For example, in 1992, breaking a PIN code would take a little more – about 3.5 minutes. It is only reassuring here that this defense mechanism included a limit on the number of attempts.

As for passwords, a string of 7 random digits can be selected in half a second. By the way, if you add at least one letter to this line, the break-in period immediately increases to 5 hours. And then on increasing. If you use a password of 12 random letters, it will take 2 centuries to break into it, even taking into account the latest technologies.

Another method of increasing password complexity is to use a combination of large and small letters, numbers, and special characters.

A simple example: Password matching will take 1/5 milliseconds. At the same time, the password program will take 14 years to guess the password “P @ ssw0rD.” Source: Better Buys

The most important thing to take from this article: despite the relative invulnerability of private keys and sid-passwords of Bitcoin wallets, the weakest link in their protection is you yourself. Even Twitter CEO Jack Dorsey couldn ‘t be an exception to that rule.

And what passwords do you use to protect your accounts and wallets?

Leave a comment

Your email address will not be published.

Translate »