• Wasabi Wallet opened a challenge for users to ‚crack‘ a Bitcoin wallet to educate the public on blockchain security.
• The project, titled ‚Hunting Sats,‘ is backed by Swan Bitcoin, Trezor, Blockstream, and several other respected companies in the Bitcoin space.
• As of press time, four words have been revealed, blast, hollow, state, and monkey.
Wasabi Wallet recently launched a unique educational competition in an effort to promote healthy wallet security. Titled ‚Hunting Sats‘, the project involves ‚cracking‘ a Bitcoin wallet loaded with over 4 million Sats. The project is supported by well-respected companies in the Bitcoin space, such as Swan Bitcoin, Trezor, and Blockstream.
The competition is a novel way of demonstrating the strength of cryptography and the security of private keys. To crack the wallet, users must guess the 12-word BIP-39 seed phrase. The words are distributed among the partners, with a new word to be revealed daily. The chance of anyone correctly guessing the seed phrase is virtually zero.
As of press time, four words have been revealed, blast, hollow, state, and monkey. The Hunting Stats website explains that as more words from the seed phrase are revealed, the weaker it becomes. As a result, Wasabi Wallet is urging users to take their time when setting up a wallet, as security is paramount.
The competition will come to an end on Jan. 30th, when the final words of the seed phrase will be revealed. It is hoped that the event will raise awareness of the importance of blockchain security and help users to protect their funds from theft.