These hackers are trying to crack Bitcoin encryption, but they are unlikely to succeed
according to recent report By Bleeping Computer, TeamTNT, a notorious hacking group, is back and is now trying to crack Bitcoin.
Bad actors are said to hijack servers and use their vast resources in order to run crypto-resolving tools for the largest cryptocurrency.
Bitcoin uses elliptical curve secp256k1 for its keys and signatures. When cryptocurrency became popular, the choice of this specific realization baffled crypto experts because secp256k1 was almost completely unknown compared to other solutions.
TeamTNT hackers are now trying to crack the elliptic curve’s encryption with the stolen resources.
However, their efforts should be taken with caution. It is very likely that they are fiddling with new attack paths rather than trying to actually hack Bitcoin.
At the moment, Bitcoin is completely safe since there are no hardware that can crack it.
With this said, some experts believe that it will be possible to crack Bitcoin in the future. In January, U.Today reported that Mark Webber, a quantum physicist at the University of Sussex, predicted that a quantum computer containing more than 300 million qubits would be able to pose a significant threat to Bitcoin.
In such a case, it would be necessary to launch a quantum-resistant hard fork in order to save bitcoin from supercomputers.
Bitcoin has never been hacked, which is one of its main selling points. However, David Schwartz, CTO of Ripple, recently saw that it is very likely that Bitcoin has some severe bugs that have yet to be discovered.