How Researchers Cracked an 11-Year-Old Password to a $3 Million Crypto Wallet
Two years ago when “Michael,” an owner of cryptocurrency, contacted Joe Grand to help recover access to about $2 million worth of bitcoin he stored in encrypted format on his computer, Grand turned him down.
Michael, who is based in Europe and asked to remain anonymous, stored the cryptocurrency in a password-protected digital wallet. He generated a password using the RoboForm password manager and stored that password in a file encrypted with a tool called TrueCrypt. At some point, that file got corrupted and Michael lost access to the 20-character password he had generated to secure his 43.6 BTC (worth a total of about €4,000, or $5,300, in 2013). Michael used the RoboForm password manager to generate the password but did not store it in his manager. He worried that someone would hack his computer and obtain the password.
Grand is a famed hardware hacker who in 2022 helped another crypto wallet owner recover access to $2 million in cryptocurrency he thought he’d lost forever after forgetting the PIN to his Trezor wallet. Since then, dozens of people have contacted Grand to help them recover their treasure. But Grand, known by the hacker handle “Kingpin,” turns down most of them, for various reasons.
