As a researcher, I find this story of Michael’s lost bitcoins and the efforts taken by Joe Grand and Bruno to help him recover them truly fascinating. It’s a reminder of how important it is to prioritize security, but also of the potential rewards that come with staying invested in cryptocurrencies for the long term.
Two cybersecurity specialists aided an unidentified Bitcoin user in retrieving a lost stash of 43.6 bitcoins, which they had unfortunately misplaced 11 years prior and could no longer access from their digital wallet.
In a YouTube video, researcher Joe Grand and his companion Bruno described how they managed to reverse-engineer the password generator for a Bitcoin wallet that had been hacked. This meticulous endeavor allowed them to retrieve the stolen coins and regain control of the account.
Regaining Access to 11-year-old Wallet
As a crypto analyst, I’ve come across information where an anonymous user, referred to as Michael, disclosed that he established his cryptocurrency wallet around 2013. He employed RoboForm to create a distinct password for the wallet. Nonetheless, for enhanced security measures, Michael chose not to store this sensitive password within RoboForm itself. Instead, he opted to save it in an encrypted file offline.
As a researcher studying cybersecurity, I can relate when individuals express deep concern for their digital assets. At that particular moment in time, my anxiety was heightened as I had amassed approximately $5,300 worth of cryptocurrency. However, misfortune struck when the encrypted file harboring the essential password succumbed to corruption, leaving me helpless and unable to regain access to my wallet.
In 2022, Michael initially reached out to Grand regarding his bitcoins but was initially rejected. However, undeterred, Michael made another attempt in June 2023, and this time, Grand became interested. Consequently, they initiated the steps for recovering the digital assets.
Grand and Bruno uncovered an issue with RoboForm’s random number generator back in 2015. This flaw meant that each password generated came with a linked date and time of creation on a user’s computer. Although this bug was remedied, they deduced that every password made prior to that fix could have been impacted.
HODLing Till BTC Hits $100K
Michael was given the responsibility of keeping track of the date he generated a particular password. This proved to be quite a challenge. However, through their investigation, researchers unearthed that Michael transferred his Bitcoins into his digital wallet on April 13, 2013. By focusing on time constraints, they persisted in testing numerous passwords until they stumbled upon the right one, which was created on May 15, 2013.
After finding the right password, they gained entry into the digital wallet and took out the bitcoins. Michael shared some of his hoard with Grand and Bruno when Bitcoin was priced at around $38,000. When Bitcoin reached a value of $62,000, he sold a portion for himself. He now owns 30 BTC valued approximately at $2 million and plans to keep them until Bitcoin hits $100,000 in value.
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2024-06-02 12:30