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HOME > News > CRYPTOPEDIA > BITCOIN NEWS > Bitcoin Enthusiast Cracks Known 12-Word Seed Phrase in Minutes: The Importance of Crypto Security
BITCOIN NEWSCRYPTOPEDIANews

Bitcoin Enthusiast Cracks Known 12-Word Seed Phrase in Minutes: The Importance of Crypto Security

NFT Studio 24
Posted NFT Studio 24 April 28, 2023 107 Views 4 Min Read
Updated 2023/04/28 at 2:09 AM
Bitcoin Enthusiast Cracks Known 12 Word Seed Phrase in Minutes The Importance of Crypto Security
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Bitcoin, the world’s largest and most popular cryptocurrency, has been making headlines for years. While the technology behind it is innovative and exciting, it also comes with its own set of security challenges. Recently, a systems architect, Andrew Fraser, cracked a 12-word seed phrase and won a 100,000 Satoshi bounty, or 0.001 Bitcoin (BTC), worth $29. The incident serves as a timely reminder for Bitcoin users and crypto enthusiasts to take crypto security seriously.

Contents
Seed Phrase – The Master Key to Bitcoin WalletsCracking the CodeSecurity of 12-Word Seed KeysThe Importance of Crypto SecuritySecurity is an ongoing challenge

Seed Phrase – The Master Key to Bitcoin Wallets

A seed phrase or recovery phrase is a string of random words generated. When creating a wallet, a seed phrase is generated to access it, acting as a master key. Seed phrases are typically 12 or 24 words long and must be kept offline to prevent unauthorized access. If a 12-word seed phrase is known, it’s easy to access the wallet and withdraw funds.

Cracking the Code

Fraser brute forced a 12-word seed phrase that Bitcoin educator “Wicked Bitcoin” shared on Twitter.

Anyone want to try and brute force this 12-word seed phrase securing 100,000 sats? I’ll give you all 12 words but in no particular order. Standard derivation path m/84'/0'/0'…no fancy tricks. GL.https://t.co/c9FyMv3HYM pic.twitter.com/nPGTB9bX2g

— Wicked (@w_s_bitcoin) April 26, 2023

Fraser stated that replicating his success in cracking seed phrases is possible with basic Python skills and knowledge of BIP39 mnemonics. Windows command shell knowledge is also helpful.

The Tweet challenged users to decipher the correct order of the 12-word seed phrase. Fraser cracked the code using BTCrecover, a software application available on GitHub. It took just 25 minutes to unlock the 100,000 satoshis, worth just under $30.

Security of 12-Word Seed Keys

Fraser highlighted that a 12-word seed key can be secure if the words are unknown to attackers or if a passphrase is used. However, he stressed the superior security of 24-word seed keys, which boast 256 bits of entropy compared to 128 bits in a 12-word seed.

24-words > 12-words 🤪

— 2037 (@btc2037) April 27, 2023

Even the probability of an attacker cracking a 12-word seed phrase is borderline absurd. A 24-word seed phrase may be superior, but it is unlikely to be hacked. It’s a timely reminder to readers to ensure seed phrases are never published or shared online. That means seed phrases should not be stored in a password manager or a cloud storage solution, and they certainly should not be typed out into a phone.

The Importance of Crypto Security

The incident highlights the importance of crypto security. With the increasing number of cryptocurrency users, it’s important to maintain high vigilance and follow best practices for safety. This includes complex passwords, two-factor authentication, and secure offline seed phrases.

Security is an ongoing challenge

Crypto security remains a challenge, but there are tools and resources to stay safe. New security measures and protocols will develop as the industry evolves.

In the meantime, it’s up to individual users to take responsibility for their own security. Staying informed about security threats and best practices is crucial for both experienced and new crypto traders. By staying vigilant and taking the necessary precautions, users can help ensure that their crypto assets stay safe and secure.

TAGGED: #Seed Phrase, Security

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