The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

$715,000,000 Bitcoin (BTC) Wallet Up For Grabs Among Crypto Sleuths

by Daily Hodl Staff
September 10, 2020
in Bitcoin, Scams, Hacks & Breaches

A Bitcoin wallet said to be holding more than $715 million worth of BTC is being passed around a community of opportunistic hackers.

Alon Gal, the chief technology officer at the corporate network security firm Hudson Rock, says he is currently in possession of the wallet that is said to hold 69,000 BTC.

Coders are trying to figure out the password that will crack the Bitcoin Core wallet.dat file. Gal jokes that Google should help him out by lending out its quantum computer.

https://twitter.com/UnderTheBreach/status/1303316723186139136

How quickly real-world quantum computing applications will develop or how swiftly they’ll be able to impact industries or affect cryptographic systems such as Bitcoin is the subject of rigorous and ongoing debate.

Present-day quantum computers are not nearly powerful enough to actually crack cryptographic systems, though different companies continue to develop stronger models.

Industrial powerhouse Honeywell, for example, announced in June that its team of scientists, engineers, and technicians has delivered a computer with a quantum volume of 64, far surpassing previous models that were available. Quantum volume measures a variety of different metrics, including the number quantum physics computing bits (qubits), efficiency, and the strength of the interconnection between the system’s qubits.

Dragos Ilie, a quantum computing and encryption researcher at Imperial College London, argues that adding more and more qubits to scale a system is tricky and may ultimately lead to a destabilized system.

“Google’s supercomputer currently has 53 qubits. 

In order to have any effect on Bitcoin or most other financial systems, it would take at least about 1500 qubits and the system must allow for the entanglement of all of them…”

There’s also the possibility that the wallet Gal has contains a lot less Bitcoin than it advertises.

“Someone alerted me that there might be a method to forge wallets, although I don’t know if it is true or if it was applied to this specific wallet. There is a thriving market for selling uncracked wallets where I know some crackers had undeniable success.”

Gal himself doesn’t appear particularly convinced that the wallet will be cracked anytime soon.

https://twitter.com/UnderTheBreach/status/1303340119714336768

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Roman3dArt

Submit a Press Release

Industry Announcements

  • Numerai Announces $1M Strategic Buyback of NMR
    July 17, 2025
  • Bit Origin Secures $500 Million Equity and Debt Facilities to Launch Dogecoin Treasury
    July 17, 2025
  • Supra Unveils Real-Time Macro-Economic Data Feeds to Enhance Onchain Trading
    July 17, 2025
  • Aster Launches 24/7 Stock Perpetual Contracts Trading With Exposure to US Equities
    July 16, 2025
  • The Sandbox Launches Largest LAND Sale to Date on GBM Auctions
    July 16, 2025
  • Vision (VSN) Has Arrived – The New Standard for User-Centric Token Ecosystems
    July 16, 2025
  • Snail, Inc. Announces Intent To Explore Proprietary USD-Backed Stablecoin
    July 16, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$118,813.83
$118,813.83
0.14%
Ethereum
$3,422.44
$3,422.44
5.91%
BNB
$722.74
$722.74
3.25%
Solana
$173.97
$173.97
4.45%
XRP
$3.24
$3.24
9.14%

Spotlight

  • Best-Selling Author Ric Edelman Doubles Down on $500,000 Bitcoin (BTC) Price Target As ‘Smart’ Investors Pile In
    July 10, 2025
  • Crypto Analyst Says One Top-10 Altcoin’s Chart Looks ‘Disgustingly Good,’ Updates Outlook on Bitcoin and Ethereum
    July 10, 2025
  • SEC Commissioner Peirce Declares Tokenized Securities Under the Purview of the Regulator
    July 10, 2025
  • Trader Predicts Mid-Cap Altcoin Could Explode 200%+ by August, Maps Path Forward for Dogecoin and Solana
    July 10, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl