Introduction
According to CryptoPotato, two cybersecurity researchers have successfully aided an anonymous cryptocurrency user in recovering 43.6 bitcoins (BTC) that were lost 11 years ago due to lost access to the wallet containing the assets. The researchers, Joe Grand and Bruno, managed to reverse engineer the password generator that was used to create the password for the wallet, despite the rigorous process involved.
Background
The anonymous user, referred to as Michael, informed Grand and Bruno that he had set up the wallet in 2013, using RoboForm to generate a unique password. For security purposes, he chose to store the password in an encrypted file rather than on RoboForm. Unfortunately, the encrypted file became corrupted, resulting in Michael losing access to his wallet.
Persistence Pays Off
Michael initially reached out to Grand in 2022 but was turned down. However, he persisted and contacted Grand again in June 2023, successfully gaining his attention and starting the process of asset retrieval. The researchers discovered a vulnerability in RoboForm’s random number generator, which linked each generated password to the date and time it was created on a user’s computer. Although this bug was fixed in 2015, Grand and Bruno believed it would have affected all passwords created prior to that.
Recovery Process
Michael was asked to recall the date he created the password. Despite the challenge, the researchers found out that he transferred the bitcoins into his wallet on April 13, 2013. They used time parameters and tested hundreds of passwords until they found the correct one, created on May 15, 2013. After finding the correct password, they accessed the wallet and retrieved the bitcoins.
Reward and Future Plans
Michael rewarded Grand and Bruno with a portion of the recovered bitcoins when the value of BTC was around $38,000. When the value of the asset rose to $62,000, he sold some for himself. Currently, Michael holds 30 BTC, worth approximately $2 million, and plans to retain them until the asset’s value reaches $100,000.
