Reddit User Claims to Crack Bitcoin Seed Phrases in Viral Post
Reddit User Claims to Crack Bitcoin Seed Phrases in Under 5 Minutes
One Reddit user has taken to the platform to boast about their ability to guess two Bitcoin seed phrases in under five minutes, accessing the corresponding wallets. However, it’s important to understand that there is a fundamental misunderstanding of how seed phrases work.
Understanding Bitcoin Seed Phrases and Wallet Security
Seed phrases, which are crucial for wallet security, are generated in accordance with BIP39. They consist of 12 to 24 words and are drawn from a specific list of 2048 words. The final word in a seed phrase serves as a checksum, making it practically impossible to guess a seed phrase without using unrealistically high computing power.
The Misleading Nature of the Reddit Post
The Reddit post may shock some unseasoned Bitcoin users, but the author likely did not guess existing seed phrases. Instead, they inadvertently generated new, unused wallets. While the claim is technically true, it is misleading as the author did not crack or access someone else’s wallet.
Probability of Randomly Generating an Active Wallet’s Seed Phrase
The BIP39 standard ensures that the probability of randomly generating an active wallet’s seed phrase, especially one containing funds, is microscopic. This further emphasizes the difficulty of guessing seed phrases.
Recent Bitcoin Price Performance
In terms of Bitcoin’s recent price performance, it has been experiencing consolidation with a slight downtrend visible. The current trading price is around the $42,513 mark, with the moving averages acting as dynamic levels of support and resistance.
This article was originally published on U.Today
