Researchers from a Kentucky-based lab have reportedly cracked eight out of twelve key mnemonic phrases securing Satoshi Nakamoto’s Genesis Wallet, a critical component of Bitcoin’s stability, as it holds 1.1 billion Bitcoins. The partial breach has raised concerns in the cryptocurrency community about the potential for a market crash if the remaining four keys are decoded.
With twelve mnemonic phrases securing the wallet, eight have been decoded, including words like “kentucky,” “chat,” “fried,” “Friday,” “vivo,” “chicken,” “dollar,” and “fifty.” If the remaining four are decoded through brute-forcing, it could lead to a sell-off cascade. Investors are reacting to the threat, with some remaining optimistic about Bitcoin’s future due to its inherent scarcity and decentralized nature.
The coming days are crucial for Bitcoin’s trajectory as investors watch for further developments in the industry.
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