Lost Bitcoin Wallet Password Uncovers Major Security Flaw, Putting Millions at Risk of Theft
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Tech entrepreneur lost password to $100K bitcoin wallet, hired experts to crack it open, revealing flaw that could allow $1B+ theft.
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Flaw stems from wallet programs not creating random enough keys; millions of wallets created before 2016 vulnerable.
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Security startup Unciphered discovered issue when trying to recover investor's lost wallet, worked with Blockchain.com to notify users.
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Blockchain.com emailed 1.1M+ users about updating wallets; flaw kept quiet to avoid heists before users could move funds.
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Investor who lost password no longer believes in crypto after 3 failed startups, but happy he inadvertently helped others protect funds.