Bitcoin is still safe
Cantrell wrote an article in which he revealed how he had successfully hacked the address of Bitcoin.
Calm down guys!
On June 19, Alistair Milne, CIO of the Atlanta Digital Currency Fund, launched a Twitter contest that challenged the public to decipher a Bitcoin wallet. John Cantrell, developer of Bitcoin and Lightning Network projects, managed to successfully hack Bitcoin's address after verifying approximately a billion seed combinations over the course of 30 hours. After deciphering the words, he was able to claim the 1 BTC prize that was contained inside.
Cantrell wrote an article in which he revealed how he had successfully hacked the address of Bitcoin. However, he received many comments stating that Cantrell had revealed that Bitcoin is not secure. Consequently, Cantrell created a thread on his Twitter account and explained to the public why, despite having managed to hack a wallet, Bitcoin is still safe. The reason he was able to do this was because he knew eight of the twelve words, so he worked for more than a day to figure out just four words.
** The Spanish news portal, Muy Pymes, reported on June 4 that Mastercard, the multinational that facilitates electronic fund transfers around the world, announced the launch of "Fintech Express" in Europe.
In order for the public to better understand the level of security that Bitcoin has, Cantrell explained: "The same system that he forced the last 4 words of his mnemonic would take 837 trillion millennia to force all possible 12-word mnemonics [...] if you know as few as 5 words. To apply brute force to all 12 words (just to break even on your $ 100 billion investment, assuming you can really liquidate the entire BTC) it still takes 422 BILLION YEARS".