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  • During the last two years, hackers have been trying to attack and hack Bitcoin’s seventh largest wallet, an address that holds 69,370 BTC or $712 million. According to the CTO of the cybercrime intelligence firm, Hudson Rock, the bitcoin wallet is being publicized on hacking forums so they might crack the password.

    Wallets with a large amount of bitcoin (BTC) are listed on bitinfocharts.com in a list named the “Bitcoin Rich List.” During the last ten years, cryptocurrency proponents have scrutinized this list to figure out the owners or record significant transfers.

    As Vice has reported, the seventh richest BTC address is a target for hackers, as an ostensible wallet.dat file has been passed around hacker forums for 12 to even one year. Alon Gal, the Chief Technology Officer of cybercrime firm Hudson Rock explained the situation.

    Alon Gal disclosed via Twitter that he currently is in possession of the wallet that is said to hold 69,000 BTC. He jokes that Google should help him out by lending out its quantum computer.

    “There is a Bitcoin wallet with 69,000 Bitcoins ($693,207,618) that is being passed around between hackers/crackers for the past 2 years for the purpose of cracking the password, no success so far,” Gal tweeted.

    However, the chances of claiming the Bitcoin bounty are really low.

    Nairametrics is aware that present-day supercomputers don’t have the power to break cryptographic systems, as seen in the world’s most valuable crypto by market value though global tech brands like Google, IBM continue to develop stronger quantum computing systems.

    While Google had in recent times said it will take about 10,000 years for a conventional computer to complete such computation, IBM shared a different opinion, “We argue that an ideal simulation of the same task can be performed on a classical system in 2.5 days and with far greater fidelity.”

    That said, it’s a fact now that quantum computing has not found the quantum leap forward for such advances that could trouble Bitcoin’s present encryption codes.

    Crypto holders should always learn to be cautious in keeping their private keys, passwords safe as the chance of reclaiming their prized BTCs after such loss is almost impossible.

     

     

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