Bitcoin Core developer Luke Dashjr doubts the security of existing Bitcoin storage solutions after his personal wallet of more than $4 million in coins was emptied last month.
The programmer suggested that his practice of storing his coins was well above “usual practice”, yet he was still being successfully robbed.
Is bitcoin safe?
On Monday, Dashjr responded to another Bitcoiner on Twitter who asked how others would spend their money if they one day woke up to $30 million in their bank account.
Some of Bitcoin’s biggest supporters – including MicroStrategy CEO Michael Saylor – may push for a 100% Bitcoin allocation. But Dashjr called for a (relatively) modest approach: “Maybe 1,000 BTC or so, if I can find a way to keep it safe,” answeredWhich points to real estate as a potentially safer option.
On December 31st Lost His entire balance of over 200 BTC is credited to a hacker who, according to the developer, hacked a PGP (very good privacy) key. A PGP key is an encryption software that provides encryption integrity and authentication for sensitive files – such as a Bitcoin private key.
The private key is a digital signature that is required to send a Bitcoin transaction from the associated wallet. Most experts recommend keeping your private keys in “cold storage” – completely separate from the internet – as a foolproof way to protect your Bitcoin.
However, Dasher suggested otherwise.
“The standard practices are clearly not safe,” he said. “My security was far from normal practice, and I was still hacked.”
developer Claims that the addresses his bitcoins were stolen from were actually cold storage addresses. He’s not entirely sure that using ColdCard, a reputable hardware wallet, would have done that protected his means.
Disher still does not know how his money was stolen or at least he has not revealed these details publicly.
Adam Back – One of the first Bitcoin contributors to collaborate with Satoshi Nakamoto, Think Dasher was targeted through his home network and his devices were hacked.
Others have had much harsher criticism against Dashjr, such as bitcoiners like Bitcoiners holdonout It accuses him of spreading misinformation about how easy it is to secure Bitcoin.
“I have a big problem with him saying it is not possible to store bitcoin securely,” he said on Twitter. “The paper/metal seed phrase doesn’t care about the compromised home network.”
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