Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Bitcoin Price Prediction as $3M Wallet Hacked via Roboform Flaw – What’s Going On?

Bitcoin Price Prediction as $3M Wallet Hacked via Roboform Flaw – What’s Going On?

Cryptonews2024/05/31 04:49
By:Arslan Butt
Bitcoin Price Prediction as $3M Wallet Hacked via Roboform Flaw – What’s Going On? image 0 Bitcoin Price Prediction

In a surprising turn of events, researchers cracked an 11-year-old crypto wallet containing $3 million in Bitcoin by exploiting a flaw in an outdated version of the RoboForm password manager.

This breakthrough not only recovered a significant amount of lost Bitcoin but also raised important questions about Bitcoin price predictions and the security of long-term crypto storage.

Key Points:

  • $3 million in Bitcoin recovered by hacking an 11-year-old password manager.
  • Michael’s initial investment was $5,300 in 2013.
  • Success achieved by using the 2013 version of RoboForm.
  • Highlights the importance of keeping software updated for security.

$3M Wallet Hacked via Roboform Flaw


A team of researchers successfully recovered a crypto-wallet containing $3 million worth of Bitcoin by hacking an outdated version of the RoboForm password manager. This remarkable discovery came from a sophisticated hack into an 11-year-old software.

  • The Initial Challenge: Two years ago, a European Bitcoin holder named Michael reached out to hardware hacker Joe Grand. Michael had stored his Bitcoin in a virtual wallet secured with a 20-character password generated by RoboForm and encrypted with TrueCrypt.

  • Unfortunately, the file became damaged, and access was lost. Initially, Grand declined, feeling his hardware expertise wasn’t relevant to software wallets. However, Michael persuaded Grand and Bruno, a hacker acquaintance, to tackle the challenge.
  • The Breakthrough: Grand and Bruno decided to use the 2013 version of RoboForm, discovering that the password generator was linked to the date and time settings. By setting their computer to a date in 2013 and making several attempts, they managed to generate the correct password.

  • The Rediscovered Wealth: This success allowed Michael to regain access to his Bitcoin wallet, which originally held approximately $5,300 in Bitcoin in 2013. With Bitcoin’s price surge, Michael’s investment grew substantially. After recovering his wallet, he sold some Bitcoin at $62,000 per BTC and now holds 30 BTC, worth around $3 million today.
  • Lessons and Insights: This case highlights the importance of software updates for security. RoboForm’s issue was addressed in a 2015 update, yet it shows that outdated software can pose significant risks. Grand emphasized that their success was a mix of luck and skill, and Michael’s story serves as a reminder of the potential long-term value of holding onto cryptocurrency.

In conclusion, this story not only showcases a technical achievement but also underscores the potential financial gains and risks associated with cryptocurrency investments.

Bitcoin Price Consolidates Near $68,500

Bitcoin (BTC/USD) is trading at $68,591, up 0.11%, exhibiting bullish Bitcoin price prediction . The pivot point, marked at $68,232, serves as a crucial level for determining market direction.

Immediate resistance levels are found at $69,361, $69,973, and $70,646. On the downside, key support levels are situated at $67,182, $66,588, and $65,911.

The Relative Strength Index (RSI) is at 47.27, indicating a neutral market sentiment. The 50-day Exponential Moving Average (EMA) is positioned at $68,232, currently acting as a dynamic support level.

Bitcoin Price Prediction as $3M Wallet Hacked via Roboform Flaw – What’s Going On? image 1 Bitcoin Price Prediction – Source: Tradingview

Given these technical indicators, Bitcoin remains bullish above the pivot point of $68,232. A sustained break above this level could lead to testing the immediate resistance at $69,361 and potentially higher levels.

Conversely, a break below the pivot point might signal a bearish trend, targeting the support levels at $67,182 and lower.

In conclusion, the outlook for Bitcoin is cautiously bullish above $68,232, with traders closely monitoring key resistance and support levels for potential market movements.

You might also like

Secure Early Advantages with the 99Bitcoins Presale

99Bitcoins , a leader in digital education, is transforming how users learn about cryptocurrency through its ‘learn-to-earn’ platform. Participants can enhance their knowledge while earning $99BTC tokens, effectively growing both their expertise and investment portfolios.

Exclusive Early Access to 99Bitcoins

This presale presents a rare chance for early investors to secure $99BTC tokens at a competitive price of $0.00107 each. These tokens are not just a reward mechanism but also provide access to premium content and additional perks within the community.

Act Fast—Limited Time Offer

Currently, the presale has raised $1,715,974.68, progressing towards a goal of $2,483,256. With just over five days left until the next pricing stage, this is a pivotal moment to invest in $99BTC and start benefiting from immediate staking opportunities.

Secure Your 99Bitcoins Today

Disclaimer: The text above is an advertorial article that is not part of Cryptonews.com editorial content.
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Best Cryptos for Beginners? Qubetics Sells Over 499 Million Tokens, Monero’s Privacy and Kaspa’s Speed

Discover the best cryptos for beginners! Learn how Qubetics raised over $14.9 million, plus explore the privacy features of Monero and the speed of Kaspa.Qubetics – Revolutionizing Cross- Border TransactionsMonero – The Unmatched Leader in Privacy CoinsKaspa – A Fresh Take on Blockchain SpeedConclusion – Building a Strong Foundation in Crypto

Coinomedia2025/03/12 12:00

Whales Withdraw $14.35M USDC After ETH Long Exit

8 whale wallets withdrew $14.35M USDC from Hyperliquid after closing ETH long positions for profit.Whales Take Profits on ETHMarket Impact & SpeculationsWhat’s Next for Ethereum?

Coinomedia2025/03/12 12:00