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Researchers crack 11-year-old password, recover $3 million in bitcoin (arstechnica.com)

submitted 6 months ago by boem@lemmy.world to c/technology@lemmy.world

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[–] prole@sh.itjust.works 18 points 6 months ago (4 children)

That's why you gotta laminate your seed phrase, at the very least. And put it somewhere where it will stay for a very long time and that you'll remember (maybe hidden in a certain book, or put a false bottom in a drawer, I dunno get creative). Doesn't matter what you have or don't have on a disk, the Bitcoin isn't on the disk, it was the words you should be protecting.

[–] RedEyeFlightControl@lemmy.world 34 points 6 months ago (2 children)

This was when BTC was like 5 cents and no one had learned this lesson yet.

[–] Corkyskog@sh.itjust.works 15 points 6 months ago

When I first acquired it, I wasn't aware of a place to even check it's value. There was this old game called Dragon Tales, where you could gamble whole BTC on things like kicking a coconut tree to see if 0-4 BTC worth of coconuts would fall...

[–] evatronic@lemm.ee 9 points 6 months ago (1 children)

There's an IDE drive in a landfill somewhere with 10BTC on it because I'm fuckwit.

[–] GreatAlbatross@feddit.uk 2 points 6 months ago

There is a guy fighting Newport council to let him dig through a landfill at the moment: https://www.bbc.co.uk/news/uk-wales-67297013

[–] Petter1@lemm.ee 4 points 6 months ago

I just store it in my keepass file, lol

[–] Riven@lemmy.dbzer0.com 1 points 6 months ago

I chuck a backup of stuff in my storage for that reason. Even if my house burns down I'll still be OK with those backups.

[–] KairuByte@lemmy.dbzer0.com 1 points 6 months ago (3 children)

Honestly even lamination isn’t great. Won’t survive a fire.

Best options I’ve seen are engraving your seed into metal, and/or putting multiple copies in trusted locations like family houses or safety deposit boxes.

[–] umbraroze@lemmy.world 7 points 6 months ago

How come everyone is forgetting the best practices in Bitcoin backup?

You put the stuff in a container, put it in a hole in your yard, and put a birdbath on top of it.

The birdbath is a crucial security step! Standard practice! Been that way for years! I frankly can't believe a lot more people don't know about it.

[–] NOPper@lemmy.world 7 points 6 months ago (1 children)

Last time I tried to engrave my seed on metal I got kicked out of the park.

[–] JasonDJ@lemmy.zip 4 points 6 months ago

In retrospect, the monkey bars were a poor choice for metal.