PANews reported on October 16th that the Milk Sad research team, according to a technical report updated on August 4th, revealed the truth behind the sudden transfer of approximately 120,000 Bitcoins (valued at approximately $3.7 billion at the time, and currently approximately $15 billion) in December 2020. The research revealed that the wallets associated with these Bitcoins were generated by the Chinese mining pool Lubian.com, and their private keys were not truly random, but rather generated by a flawed pseudo-random number generator (PRNG), making them predictable. The report pointed out that the US law enforcement agencies recently obtained the relevant private keys, but not by cracking or hacking into the system, but by confirming that there were systemic loopholes in the mechanisms for generating these wallets.PANews reported on October 16th that the Milk Sad research team, according to a technical report updated on August 4th, revealed the truth behind the sudden transfer of approximately 120,000 Bitcoins (valued at approximately $3.7 billion at the time, and currently approximately $15 billion) in December 2020. The research revealed that the wallets associated with these Bitcoins were generated by the Chinese mining pool Lubian.com, and their private keys were not truly random, but rather generated by a flawed pseudo-random number generator (PRNG), making them predictable. The report pointed out that the US law enforcement agencies recently obtained the relevant private keys, but not by cracking or hacking into the system, but by confirming that there were systemic loopholes in the mechanisms for generating these wallets.
The case of 120,000 missing Bitcoins in 2020 revealed: stolen due to "pseudo-random private keys"
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PANews reported on October 16th that the Milk Sad research team, according to a technical report updated on August 4th, revealed the truth behind the sudden transfer of approximately 120,000 Bitcoins (valued at approximately $3.7 billion at the time, and currently approximately $15 billion) in December 2020. The research revealed that the wallets associated with these Bitcoins were generated by the Chinese mining pool Lubian.com, and their private keys were not truly random, but rather generated by a flawed pseudo-random number generator (PRNG), making them predictable.
The report pointed out that the US law enforcement agencies recently obtained the relevant private keys, but not by cracking or hacking into the system, but by confirming that there were systemic loopholes in the mechanisms for generating these wallets.
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