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The Blockchain Bandit: Finding Over 700 Active Private Keys On Ethereum's Blockchain



Whereas researching key technology on Ethereum’s blockchain we found funds from weak personal key addresses are being pilfered by somebody. On 01/13/18, this blockchain bandit held a steadiness of 37,926 ETH valued at $54 million.

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In our analysis we look at how, even when confronted with this statistical improbability, ISE found 732 personal keys in addition to their corresponding public keys that dedicated 49,060 transactions to the Ethereum blockchain. Moreover, we recognized 13,319 Ethereum that was transferred to both invalid vacation spot addresses, or wallets derived from weak keys that on the top of the Ethereum market had a mixed whole worth of $18,899,969.

Within the course of, we found that funds from these weak-key addresses are being pilfered and despatched to a vacation spot handle belonging to a person or group that’s working lively campaigns to compromise/collect personal keys and procure these funds. On January 13, 2018, this “blockchainbandit” held a steadiness of 37,926 ETH valued at $54,343,407.

Director and Producer: Sam Levin
Cinematography: Daniel Regner
Director of Pictures: Zak Frederick
Animation: Donald Bomber
Produced by Impartial Safety Evaluators

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2 comments

  1. Good job, I mentioned this in my latest video.

  2. The keyspace is 2^256, but the address space is 2^160 (an Ethereum address is obtained from the least significant 160-bit of the Keccak-256 hash). So theoretically a single address can have up to 2^96 private keys. And what could happen if we combine the birthday paradox with ethereum private key collisons? 😉