• Tech News
    • Games
    • Pc & Laptop
    • Mobile Tech
    • Ar & Vr
    • Security
  • Startup
    • Fintech
  • Reviews
  • How To
What's Hot

Huawei FreeBuds 5i review

March 21, 2023

Meta Is Being Sued in Kenya, Again

March 21, 2023

SVB Is A Story Of Digital Herds In Need Of A Shepherd

March 21, 2023
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook Twitter Instagram Pinterest VKontakte
Behind The ScreenBehind The Screen
  • Tech News
    1. Games
    2. Pc & Laptop
    3. Mobile Tech
    4. Ar & Vr
    5. Security
    6. View All

    Bring Elden Ring to the table with the upcoming board game adaptation

    September 19, 2022

    ONI: Road to be the Mightiest Oni reveals its opening movie

    September 19, 2022

    GTA 6 images and footage allegedly leak

    September 19, 2022

    Wild west adventure Card Cowboy turns cards into weird and silly stories

    September 18, 2022

    7 Reasons Why You Should Study PHP Programming Language

    October 19, 2022

    Logitech MX Master 3S and MX Keys Combo for Business Gen 2 Review

    October 9, 2022

    Lenovo ThinkPad X1 Carbon Gen10 Review

    September 18, 2022

    Lenovo IdeaPad 5i Chromebook, 16-inch+120Hz

    September 3, 2022

    YouTube adds very convenient iPhone homescreen widgets

    October 15, 2022

    Google finishes iOS 16 Lock Screen widgets rollout w/ Maps

    October 14, 2022

    Is Apple actually turning iMessage into AIM or is this sketchy redesign rumor for laughs?

    October 14, 2022

    Samsung’s One UI 5 update is largely about personalization

    October 14, 2022

    MeetKai launches AI-powered metaverse, starting with a billboard in Times Square

    August 10, 2022

    The DeanBeat: RP1 simulates putting 4,000 people together in a single metaverse plaza

    August 10, 2022

    Improving the customer experience with virtual and augmented reality

    August 10, 2022

    Why the metaverse won’t fall to Clubhouse’s fate

    August 10, 2022

    How Apple privacy changes have forced social media marketing to evolve

    October 16, 2022

    Microsoft Patch Tuesday October Fixed 85 Vulnerabilities – Latest Hacking News

    October 16, 2022

    Decentralization and KYC compliance: Critical concepts in sovereign policy

    October 15, 2022

    What Thoma Bravo’s latest acquisition reveals about identity management

    October 14, 2022

    What is a Service Robot? The vision of an intelligent service application is possible.

    November 7, 2022

    Tom Brady just chucked another Microsoft Surface tablet

    September 18, 2022

    The best AIO coolers for your PC in 2022

    September 18, 2022

    YC’s Michael Seibel clarifies some misconceptions about the accelerator • DailyTech

    September 18, 2022
  • Startup
    • Fintech
  • Reviews
  • How To
Behind The ScreenBehind The Screen
Home»Startup»I Lost $17,000 in Crypto. Here’s How to Avoid My Mistake
Startup

I Lost $17,000 in Crypto. Here’s How to Avoid My Mistake

November 24, 2022No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
I Lost $17,000 in Crypto. Here’s How to Avoid My Mistake
Share
Facebook Twitter LinkedIn Pinterest Email

In 2014, I bought 25,000 dogecoin as a joke. By 2021, it was briefly worth over $17,000. Problem was, I couldn’t remember the password. Determined to get my coins back, I embarked on a journey that exposed me to online hackers, the mathematics behind passwords, and a lot of frustration.

Although most people don’t have thousands in forgotten cryptocurrency, everyone relies on passwords to manage their digital lives. And as more and more people buy crypto, how can they protect their assets? We talked to a host of experts to figure out how to create the best passwords for your digital accounts, and, if you have crypto, what your basic storage tradeoffs are. Let’s dive in.

How to Hack Your Own Crypto Wallet

There are a few common ways to lose crypto. You might have a wallet on a hard drive you throw away. Your exchange could get hacked. You might lose your password, or you might get personally hacked and have your coins stolen. For those who lose their password, as I did, hackers actually present a silver lining. If you still control your wallet, you can try to hack your own wallet—or find someone who will.

So I contacted Dave Bitcoin, an anonymous hacker famous for cracking crypto wallets. He agreed to help break into the wallet, for his standard 20 percent fee—paid only if he is successful. Dave and other hackers are mostly using brute force techniques. Basically, they’re just guessing passwords—a lot of them.

You can also try to hack your own wallet with apps like Pywallet or Jack the Ripper. But I didn’t want to do it myself, so I sent Dave a list of password possibilities and he got started.

See also  Confusion Spirals in Crypto as the US Cracks Down

After a little waiting, I received an email from Dave. “I tried over 100 billion passwords on your wallet,” Dave told me over email. I assumed such a mind-boggling amount of tries meant my coins were surely recovered, but alas, we had only scratched the surface. The password was not hacked, and my coins remained lost. But how?

The Math Behind Strong Passwords

Each new digit in a password makes it exponentially harder to crack. Consider a one-digit password that could be a letter or a number. If the password is case-sensitive, there are 52 letters plus 10 numerals. Not very secure. You could simply guess the password by trying 62 times. (A, a, B, b, C, c … and so on).

Now make it a two-digit password. It doesn’t get twice as hard to guess—it gets 62 times harder to guess. There are now 3884 possible passwords to guess (AA, Aa, AB, etc.) A six-digit password with the same rules has around 56 billion possible permutations, assuming we don’t use special characters. A 20-character password with those rules has 62-to-the-20th-power permutations: that is, ​​704,423,425,546,998,022,968,330,264,616,370,176 possible passwords. That makes 100 billion look pretty small in comparison.

This math was bad news for me, since I’m pretty sure I had some sort of long password, like a few lines of a song lyric. Talk about facing the music.

Password Best Practices

Whether it’s for your email or crypto wallet, how can you balance creating a strong password that’s also memorable?

“Choosing passwords is tricky,” says Dave, “If you go out of your way to create an unusual password for your wallet that you wouldn’t typically use, then it makes it quite difficult for you to remember and for me to help. It’s easier to guess your password if you use consistent patterns. Of course, this is bad for security, and someone who is trying to hack your accounts will have an easier time.” Balancing security with memorability is ultimately a tough task that will depend on the individual’s needs and preferences.

See also  Predictions For Ways They’ll Change The World

Source link

avoid Crypto Heres lost mistake
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Meta Is Being Sued in Kenya, Again

March 21, 2023

SVB Is A Story Of Digital Herds In Need Of A Shepherd

March 21, 2023

Senators Warn the Next US Bank Run Could Be Rigged

March 20, 2023

Eight Ways Entrepreneurs Can Leverage Technology To Get Control Of Their Time

March 20, 2023
Add A Comment

Comments are closed.

Editors Picks

What’s a crypto exchange worth? – DailyTech

August 22, 2022

Eskute Polluno Pro review: mid-drive motor

December 24, 2022

Best Cyber Monday Laptop Deals 2021: What’s Still Available

September 17, 2022

Swan Alexa Smart Kettle review: Alexa, it’s tea time

March 3, 2023

Subscribe to Updates

Get the latest news and Updates from Behind The Scene about Tech, Startup and more.

Top Post

Huawei FreeBuds 5i review

Meta Is Being Sued in Kenya, Again

SVB Is A Story Of Digital Herds In Need Of A Shepherd

Behind The Screen
Facebook Twitter Instagram Pinterest Vimeo YouTube
  • Contact
  • Privacy Policy
  • Terms & Conditions
© 2023 behindthescreen.uk - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.