Cracking an 11-year-old password to a cryptocurrency wallet earned its owner $3 million

A cybersecurity specialist was able to regain access to a cryptocurrency wallet that was protected with an outdated password and retrieve $3 million worth of assets from it.

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The hack was made possible by a vulnerability in a decade-old version of the RoboForm password management software. With the help of complex manipulations and some luck, it was possible to bypass the protection to the cryptocurrency vault and gain access to the funds.

Two years ago, a cryptocurrency owner known as Michael asked security expert Joe Grand to help restore access to his bitcoins. At the time, the assets were worth about $2 million. The cryptocurrency wallet, which was created more than a decade ago, contained a significant amount of cryptocurrency, but due to a lost password, it seemed inaccessible. Grand, who specialises in data recovery and hacking electronic devices, took on the case and, by exploiting weaknesses in the software, was able to recover the password.

This case highlights the importance of updating software and using robust password management tools. It also illustrates the risks associated with storing cryptocurrencies and the need for a comprehensive approach to cybersecurity. Michael and Grande's story becomes a reminder that even old and forgotten digital assets can be recovered if attackers have the right knowledge and tools.

Source: Wired