Bitcoin User Alleges Hack Linked to Erroneous 83.65 BTC Fee Incident

The crypto community was initially baffled by the massive fee of 83.65 BTC, originally attributed to a costly mistake. However, recent revelations paint a darker picture. According to a social media account on X called “@83_5BTC,” hackers stole the funds from the unnamed individual and immediately swept the bitcoin to a different wallet.

Alleged Hacking Incident Tied to Bitcoin’s Massive 83.65 BTC Fee Error

The alleged victim, @83_5BTC, revealed that after transferring 139 BTC to a new cold wallet, the funds were immediately swept to another wallet by the attackers. The transaction split the sum, sending 55.77 BTC to the hackers’ wallet, while the rest, a staggering 83.65 BTC, was paid as a transaction fee. This incident surpasses the previous high-fee record of 19.8 BTC.

Mononaut, the anonymous operator behind the mempool.space bitcoin explorer, weighed in on the incident. He suggested that “the most likely explanation is that the wallet was generated from bad entropy.” In layman’s terms, this means the wallet’s security was compromised due to weak randomization in its creation process. Mononaut’s insight provides a crucial understanding of the technical flaw that may have led to this unfortunate event.

Further complicating the issue is the method used for escalating the transaction’s priority, known as “replace-by-fee” (RBF). Mononaut speculates that if the wallet had low entropy, it might have been targeted by multiple attackers, each trying to outmaneuver the other. This competition could explain the unusually high transaction fee, as attackers might use high fees to prevent others from replacing their transactions.

@83_5BTC attempted to prove ownership of the affected wallet by sharing a signed message on social media. Mononaut verified the message but cautioned that since the wallet was compromised, it’s uncertain who actually signed the message — the victim or the hacker. This uncertainty further complicates the situation, especially regarding the potential return of the fees by Antpool.

As the crypto community grapples with this incident, the focus shifts to wallet security and the importance of proper entropy in wallet creation. Mononaut’s advice is clear: “Let this be a reminder not to take shortcuts with your entropy, and ideally to use multisig for very large sums.” This incident serves as a stark reminder of the risks tied to crypto ownership and the crucial need for heightened security measures.

What do you think about the alleged hack and the massive fee that was paid? Share your thoughts and opinions about this subject in the comments section below.

from Bitcoin News https://ift.tt/nkDLpPN