‘Blockchain Bandit’: How a Hacker Has Been Stealing Millions Worth of ETH by Guessing Weak Private Keys

arlier this week, United States-based security consulting firm Independent Security Evaluators (ISE) published a report on private keys for the Ethereum blockchain.

Despite establishing around 700 weak private keys that are being regularly used by multiple people, the researchers found a “blockchain bandit” who has managed to collect almost 45,000 ether (ETH) by successfully guessing those frail private keys. Cointelegraph interviewed Adrian Bednarek, a senior security analyst at ISE, to find out more about what they describe as “ethercombing.”

Research background and chief findings

Bednarek says he discovered the hacker by accident. At the time, he was doing research for a corporate client that planned to implement their own wallet with an integrated key generating algorithm.

Read More