Post
Topic
Board Bitcoin Discussion
Re: Alleged Hacking Incident Tied to Bitcoin’s Massive 83.65 Bitcoin Fee Error
by
KiaKia
on 28/11/2023, 17:00:26 UTC
.
Mononaut, the anonymous operator behind the mempool.space bitcoin explorer, weighed in on the incident. He suggested that “the most likely explanation is that the wallet was generated from bad entropy.” In layman’s terms, this means the wallet’s security was compromised due to weak randomization in its creation process. Mononaut’s insight provides a crucial understanding of the technical flaw that may have led to this unfortunate event.

Bad entropy has always cause hacks to large number of wallets, this is mostly because by users trying to randomly picking their own mnemonic words from the 2048 words, humanly selection are often not too strong randomization. Another cause of this problem is the use of online tools to generate one’s seed phrase which is said to use JavaScript instead of python. Sites like Ian Coleman’s use this JavaScript and that is why it is always best to use wallets like electrum or even bitcoin core to generate one’s seed.

Antpool In my opinion shouldn’t return the fee because that signing of message from that address doesn’t prove anything, it could be the hacker still playing his tricks.

Bottom line is one should stay from generating their own seed and also from using online tools for that. There is no reason to try and complicate things, keep it simple.
I lost some Bitcoin and ETH to scammers through iancoleman, I was till new and learning at the time and I did import my recovery seed into iancoleman because I need to get my hands on my private keys since the wallet I imported is a multi wallet.

I have gotten tired of all these hacks that I just give up on every crypto wallets out there except hardware wallets only, I like the part where to send any asset out you need your hardware wallet to confirm the transaction, so why should I keep using a software wallet especially the wallets that functions using the internet.

If you can keep your private keys offline then you are good but the chances of making mistakes is big, creating your crypto wallets offline and keeping it offline is the safest idea ever.