Malwares for Bitcoin could create known private keys

An anonymous user on Pastebin has announced that there is a program that can select private keys for blockchains, but information is still yet to be proved
03 December 2017   744

First, let’s discuss what private key means. The key is your individual code as to safe, with the help of which you can dispose your funds. While you register an account in cryptocurrency wallets, the private key by way of a huge code line with randomized numbers and letters is created. Every time your key is activated through the hash function, that is mathematical algorithm. And when you place another number in this code line, it will change the string to the first number.

It is not recommended to create that key yourself, because if you did so, others will also discover it. It reminds more public key in this case. There are a lot of examples when blockchain users played with private keys and sent some bitcoins in order to be found.

A Pastebin user tried to discover the private key and here are some discoveries he made: he used the words which came to his mind, something like “sender”, “hello” and “password”, what is interesting these words were available for hashing. And if the word can be hashed once, it can be hashed million times then. When the hashing was iver, the user got a valid individual key. This method discloses the public keys, they turned out to be easily discoverable for hackers.

The user concluded that there is a possibility that other intermediaries, such as gambling sites and various web purses, can use malicious codes to steal coins from purses. However, it is possible that the system is not yet so ideal to generate random private keys. The guy also he used for this bot, which checked every bitcoin sent. Finally, he found an address with a transaction of 9.5 coins and a secret key to it. But the bot failed in transaction creating and all bitcoins were delegated to another point.

Finally, Reddit client informed that 9 bitcoins from his blockchain wallet were stolen. The Pastebin guy managed to find stolen bitcoins and give them back. But how could it happen?

The problem is code for private keys generating based on hash functions is really discoverable. To protect your funds, use trustworthy wallets, where the secret key is generated randomly.

First real-life cryptocurrency robbery reported in Taiwan

Four men stole 5 million Taiwanese dollar worth of Bitcoin, the police has already arrested the suspects
22 February 2018   52

Bitcoin has attracted lots of unwanted attention from hackers and scammers alike. Recently not a week passes without news of an exchange or user being hacked or some company's computers being hijacked to mine cryptocurrency. And now Taiwanese news outlets report first real-life robbery of Bitcoin in their country.

The robbery took place in Taichung, Taiwan's central city. The police reports three men being involved in the robbery itself and one as a planner. Criminals persuaded the victim to meet with them face-to-face under the guise of being interested in buying Bitcoin from him. After the victim showed the robbers the proof of his bitcoins on his phone, the men attacked him and his friend and transferred 18 bitcoins worth 5 million Taiwanese dollar via the phone wallet.

The suspects then forced the unfortunate seller to drink strong local liquor to make everything look like a drunken fight had taken place. The police arrived at the scene after receiving the reports of a fight and found two victims. Two of the offenders had fled, but the third has been arrested at the scene of the crime. He later provided investigation with information about his accomplices. They were arrested soon after.

The police later apprehended the man believed to be the mastermind behind the plan. All this was released in the yesterday's report by the Taiwanese law enforcement and the case is already viewed as “the first domestic case of bitcoin robbery”. The report doesn't mention if the crypto was returned to the rightful owner.

Similar cases has been rumored to happen in the US, but no records are released as of yet. So the unofficial governmental advice is to be more cautious of the buyers requesting face to face meetings in the light of this event.