The hacker learned to pick up weak private keys and stole tens of thousands ETH

An unknown hacker has amassed tens of thousands of esters due to weak private keys of users of the cryptocurrency. Consulting security firm Independent Security Evaluators conducted a study with unexpected results. Participants also predict an increase in the number of break-ins associated with the selection of weak private keys.

According to information in January 2018 on account of the attacker was already 38 thousand ETH. At that time the amount was equivalent to 54 million dollars. Now in possession of the so-called blockchainbandit 44744 ETH or of 7.38 million dollars. The identity of the hacker until the install failed because the only known address obtained during the study on weak private keys.

The private key is a string of data, which in the case of cryptocurrency enables users to make transactions from their addresses (wallets). Keys are important to protect. Hackers can easily devastate cryptococal if the key fall at their disposal.

In the study, the ISE was trying “to identify the keys which can be selected by using random number generators or utilities for recovering damaged code fragments, or by combination of these methods”. As a result, the firm found 732 private key, the use of which conducted transactions worth more than 49 thousand ETH. The team also identified 13319 ETH, which either attempted to send on non-existent addresses, or were received from wallets with weak private key.

Researcher and analyst for ISE Adrian Bednarek told Wired that the unknown hacker “was doing the same thing that we were, but decided to go to the end”. In addition, the entire process is fully automated.

Whoever this guy or group of persons, it took a long time to compute a new selection of wallets and keys.

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