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   3646

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.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   251

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.