Wasabi Wallet Will Pay You to 'Crack' a Bitcoin Wallet

The challenge is part of a week-long educational game that has received support from 12 major partners, including Blockstream, Trezor, BTCPay and others.

AccessTimeIconJan 24, 2023 at 10:37 p.m. UTC
Updated Jan 25, 2023 at 3:16 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Bitcoin wallet company Wasabi Wallet has thrown down the gauntlet and challenged bitcoiners around the world to “crack” a bitcoin wallet and collect whatever bitcoin (BTC) it holds.

The challenge, which kicked off Monday, is part of a week-long global treasure hunt dubbed “Hunting Sats” – a gamified educational bootcamp on best practices for private key protection.

The Hunting Sats wallet has been funded with 3,454,811 satoshis or "sats" (0.03454811 BTC) and counting. Participants from anywhere in the world will attempt to correctly guess the wallet’s passphrase and 12-word seed phrase in order to claim the funds.

A bitcoin wallet typically comes with a “seed phrase” made up of 12 to 24 random words and is sometimes protected by a PIN, password or passphrase. The seed phrase is used to “recover” or regain access to the wallet in the case of accidental loss.

Randomly guessing passwords or passphrases to gain unauthorized access is a method known as “brute-forcing.”

“Hands-on learning through fun games like Hunting Sats is a fantastic way for users to learn about seed phrase security and other benefits of self custody,” the release states. “It shows how brute force becomes more achievable if users reveal part of their seed.”

The secret words from the Hunting Sats seed and passphrase were distributed to 12 partners, including prominent bitcoin companies like Blockstream, Trezor and BTCPay. Each partner will randomly reveal their secret word on Twitter, making brute-forcing easier each time a word is publicly revealed.

“When users work responsibly with their seed and keep their private key in dedicated cold storage, the risk of cracking the wallet is practically zero,” the release states. “Understanding these basic concepts is one of the first steps towards self-sovereignty and self-custody.”

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Frederick  Munawa

Frederick Munawa was a Technology Reporter for Coindesk. He covered blockchain protocols with a specific focus on bitcoin and bitcoin-adjacent networks.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.