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‘Blockchain Bandit’ Has Stolen 45,000 ETH by Guessing Weak Private Keys, Report Claims

Published 04/23/2019, 08:56 AM
Updated 04/23/2019, 09:03 AM
‘Blockchain Bandit’ Has Stolen 45,000 ETH by Guessing Weak Private Keys, Report Claims

A “blockchain bandit” has managed to amass almost 45,000 ether (ETH) by successfully guessing weak private keys, according to a report released by Independent Security Evaluators on April 23.

Adrian Bednarek, a senior security analyst, said he discovered the sophisticated hacker by accident. While guessing a private key is meant to be a statistical improbability, he managed to uncover 732 private keys through his research — giving him the ability to complete transactions as if he was the account holder.

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