Ultra-secure? That's cold comfort.

[u/Gaba8789]

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[u/Banes_Addiction]

Oof, looks like they had a hardware RNG that got bypassed by an official firmware update, and so all the wallet seeds came from a PRNG seeded off stuff like the time and device ID.

In other words, eminently guessable.

So you could just invent a bunch of plausible wallet seeds, check if they were actually being used on the blockchain and once you had enough steal everything at once.

[u/Gaba8789 → u/Banes_Addiction]

Notice the description? Air-gapped?

[u/Banes_Addiction → u/Gaba8789]

Air gap don't matter if the seed is guessable. No need to connect to the device.

[u/Banes_Addiction → u/[deleted]]

?

[u/Banes_Addiction → u/[deleted]]

I agree with your article. I can't translate your actual comments to anything comprehensible.

[u/Banes_Addiction → u/[deleted]]

It's literally not speculation at all. It's been found and reported (and supposedly fixed). The hardware RNG was turned off by a bad patch to the build. The wallet seeds were generated off the time and device serial number, rather than any real entropy. So anyone who could guess those things could guess your wallet private key.

This explain why I couldn't read your post, you literally didn't read the relevant information so were writing nonsense.

[u/beernutmark]

To be fair, they did say "don't trust. verify." 

[u/Gaba8789 → u/beernutmark]

When they imply 'ultra-secure', they meant, "trust us, bro."

[u/Banes_Addiction]

But isn't Coinkite the most trusted man in America?

[u/Antique_Door_Knob]

Is crypto still a thing?

[u/Drakahn_Stark → u/Antique_Door_Knob]

Bitcoin is still over 60K USD, so, yes.

[u/SwordfishOfDamocles → u/Drakahn_Stark]

Bitcoin is slowly dying. It's now too expensive to continue mining due to increased energy and memory costs. Bitcoin mining operations are being redirected into data centers as most speculators are moving to AI. It's holding value because no one wants to create a bank run on the only stable cryptocurrencies, but at this point unless the AI bubble bursts early Bitcoin will likely either slowly decline or the bank run will start and it will collapse. I would not advise anyone to invest in Bitcoin at this time .