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The Chance of Your Wallet get “Hacked”

Ledger devices encode the seed as a [BIP 39 mnemonic](https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki).

Specifically note this table from BIP 39:

| ENT | CS | ENT+CS | MS | +——-+—-+——–+——+ | 128 | 4 | 132 | 12 | | 160 | 5 | 165 | 15 | | 192 | 6 | 198 | 18 | | 224 | 7 | 231 | 21 | | 256 | 8 | 264 | 24 |

This table shows that there are 256 bits of input entropy for a 24-word seed, meaning that there are 2256 possible 24-word seeds. This means that in order for the brute-forcer to have a 50% chance of finding *your* seed, they would need to check 2256 ÷ 2 keys.

If we assume that someone has a super beefy, distributed system for calculating seeds, deriving the Bitcoin keys, and then checking the blockchain for transactions then we might assume they can check one seed every microsecond (I don’t think anybody has anywhere near that capacity right now, but that’s a worst-case scenario). So, it would take 2256 ÷ 2 microseconds to check 2256 ÷ 2 keys, which means it would take about 2256 ÷ 2 ÷ 1000 ÷ 1000 ÷ 60 ÷ 60 ÷ 24 ÷ 365.25 = 1.834 × 1063 years of checking seeds to have a 50% chance of finding *your* seed and getting access to your bitcoins. That’s 1.327 × 1053 times the age of the universe.

TLDR: Don’t worry about it =)



View Reddit by andrewhartantoView Source

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9 Comments

  1. What if, let’s say 1.000.000 people are trying simultaneously to open random wallets, not only one at the same time?

    Lets’s say that there are hundreds of millions of wallets.

    Is there a chance to open at least 1?

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