Hardware cryptocurrency wallet hacked in 12 weeks (video)

At the dawn of the cryptocurrency era, many enthusiastswere frivolous about storing digital treasures and simply lost or forgot the passwords to their cryptocurrency wallets. As a result, a huge number of digital coins were lost forever, and their return to circulation became impossible. However, some resourceful crypto investors do not lose hope and use all methods to return values. Even operations such as hacking the most secure hardware wallets with the help of cybersecurity specialists are being used.

Owners of Theta Network digital tokens are still inIn 2018, they placed coins in the Trezor One wallet, which is considered one of the most reliable storage for digital money. At that time, the cryptocurrency was worth 50 thousand dollars. It can be assumed that at that time enthusiasts owned about 250 thousand Theta Network tokens at a token price of about $0.2.

After a while, the password to the wallet waslost, and the owners began to try to pick it up. Technically, in Trezor One, you can enter the wrong password no more than 16 times, then the wallet is blocked forever, and it becomes impossible to receive cryptocurrency. After 12 unsuccessful attempts, the enthusiasts decided to stop trying to open the wallet on their own.

During the cryptocurrency boom of 2021, the coinTheta Network jumped in price to $15, raising the equity in the wallet to $3.75 million. Then one of the owners of the cryptocurrency, Dan Reich, turned to cybersecurity expert Joe Grand for help, who promised to open the wallet for a fee in 12 weeks.

Using Error Injection, Joe Grandbypassed the protection of the RAM of the wallet from being read by strangers. To do this, the "white hacker" changed the voltage supplied to the processor. As a result, the password was guessed in 3.5 hours.

By the end of the projectThe Theta Network cryptocurrency began to rapidly fall in price. However, in the end, the owners were able to return the cryptocurrency in the amount of about $ 2 million. The work of Joe Grand was estimated at 30 thousand dollars. It should be noted that today the price of Theta has decreased even more - to $2.7 per coin, and if enthusiasts did not sell the cryptocurrency immediately after the hack, then their capital today has decreased to a little less than $700,000.

Source: theverge