Arman Shirinyan
Don't worry, your Bitcoin wallet's seed phrase is still an effective protective measure
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A Reddit user from the Bitcoin subreddit has claimed an almost miraculous trick – he guessed two Bitcoin seed phrases in less than five minutes, accessing corresponding wallets that were, as expected, empty. While the post might shock some novice Bitcoin users, there is a fundamental misunderstanding about how seed phrases work.
Seed phrases, the linchpin of wallet security, are generated in accordance with BIP39. They consist of 12 to 24 words taken from a specific list of 2048 words. The last word in a starting phrase is a checksum that serves as security against incorrect word entries.
If even a single word is out of place or the order is messed up, the checksum will not match and the wallet software will usually reject the phrase. This makes it virtually impossible to “guess” a seed phrase without using unrealistically high computing power.
The author of the post probably did not guess existing seed phrases, but created new wallet addresses. Since there are countless possible combinations for seed phrases, it is statistically certain that many of them will result in unclaimed wallets. Therefore, the author's claim, while technically true, is misleading. You have not cracked or accessed another person's wallet; You accidentally generated new, unused wallets.
The BIP39 standard ensures that the probability of randomly generating the seed phrase of an active wallet, especially a wallet containing funds, is microscopically low.
As for the recent Bitcoin price movement; It shows that BTC has been undergoing consolidation and a slight downtrend is evident. The current trading price is around $42,513 with the moving averages acting as dynamic support and resistance levels.
About the author
Arman Shirinyan
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.
Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with in-depth analysis of crypto projects, and technical analysis of cryptocurrency trading pairs.
Learn Crypto Trading, Yield Farms, Income strategies and more at CrytoAnswers
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