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In the past few days, the price of Bitcoin (CRYPTO: BTC) has soared 21% (as of Aug. 24). The bulls are preparing for the positive market sentiment to continue and lift the world's top cryptocurrency out of its slump and to a new record.
However, Bitcoin continues to face threats, most recently highlighted by the surprisingly weak security of a popular hardware wallet that allowed hackers to steal $130 million in ****** ets. This unfortunate event negatively impacts the public's trust in this digital ****** et.
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Here's what Bitcoin investors need to know.
In a wave of attacks in late July and early August, it was revealed that the private keys of certain Coldcard wallets were able to be easily derived by malicious actors. Sold by Canadian company Coinkite, these devices implemented weak random number generators to create seed phrases. By brute force, hackers could figure out users' private keys remotely, thereby stealing funds.

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2 months ago

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