Address recieves 2800 BTC within 24 hours (and why we need CT and Coinjoin)

[fenican]

It would be a very pleasant experience to hack this address..And probably many machines right now trying this..

No, there are not "many machines right now trying this" since all the compute power in the world could run for 100 trillion years and not find the private key associated with a public address. Would be a futile waste of time. That is why Bitcoin works; if the private keys could be found from a public one the whole protocol would be broken.

More generally, the compute cost to find that private key on average would far, hundreds of orders of magnitude, exceed the balance associated with that account.

[1715100621]

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[Denker]

Read some of the comments.
Sometimes Reddit can be so hilarious.
"Wow.. this guy is rich. Crime pays."

[richkellj]

Read some of the comments.
Sometimes Reddit can be so hilarious.
"Wow.. this guy is rich. Crime pays."

2800  BTC..wowww...this must be the richest person in bitcoins community 

[27QVUTZj8rgZP1]

Imagine how many people are brute forcing that address now... Soon, it will be "hacked".

[Hugroll]

maybe its one of the FBI bitcoin seizes accounts. they seem to get plenty of bitcoins coming in and stored. im not sure if theyre auctioned off though.

[Kotone]

Is that some kind of whale? no person can have that amount of BTC.
He must have been one of the whales.

[Evildrum]

Its pretty bad that they where so easy to pick off for who they are. Obviously need a better way to mask their amounts, unless they want public speculation on how much they have.

[Wendigo]

Why are you people getting excited about some Bitcoin address containing millions of dollars? So what it's probably some company's hot wallet. What are you going to do by investigating these transactions? It's not like you are going to steal their coins or something. Should we go snooping around Cristiano Ronaldo's bank accounts because he drives a car for 1 million dollars as well? Oh yes he probably has half a billion in there already  

[mhurezanu]

Man, think about it. with amounts this big, you can almost feel the reward within your reach, it's human nature. it's like going into a jewellery store and thinking you could just walk out with the 200g chain around your neck inconspicuously.
Think about it, it's fascinating. try counting 10% of how much cash there's in that address.
That's the kind of BTC that could instantly drop the btc price if offered to be sold at a lower amount.
Who knows, maybe someone wants to destabilize the market and buy low right after.

[cjmoles]

A Bitcoin address is a hash of the public key and cannot be easily associated with other addresses related to the same key ("account")

Hence, someone who wishes greater anonymity can simply generate a new address for each transaction and spread their send/receive transactions over N addresses effectively hiding the total account balance.

For larger companies, anonymity not really important. Everyone knows, for example, that Apple has billions in cash. They don't need to keep that a secret.

^^^...Yes....^^^

If these guys were worried about who could see how much BTC they were moving, there are plenty of measures they could take to disguise their movements.  Further, this isn't even a great deal of money in the larger scheme of things....It's only gonna get bigger my friend!

[fenican]

Imagine how many people are brute forcing that address now... Soon, it will be "hacked".

Unless they are idiots, nobody is trying to "brute force" that address. It would take all the computers in the world hundreds of trillions of year to "brute force". The cost of that would be nearly infinite - far more than the sum value of all Bitcoins let alone the trivial amount associated with that address.

[Kotone]

Imagine how many people are brute forcing that address now... Soon, it will be "hacked".

Unless they are idiots, nobody is trying to "brute force" that address. It would take all the computers in the world hundreds of trillions of year to "brute force". The cost of that would be nearly infinite - far more than the sum value of all Bitcoins let alone the trivial amount associated with that address.

Yeah its impossible for todays technology, no super computer can brute force any bitcoin address.
Even in the future.

[Gleb Gamow]

https://blockchain.info/address/1FXqE2ixnnSB1kvwbMtWma5xQ2bVbkSq3f

Wow look at that shit! how much money is that? crazy. And the address doesn't stop receiving more and more coins! everyone is speculating already. Some people has been doing research and one theory is it may be a OKCOIN cold storage address, but why wouldn't they split accross other addresses to not create a millionaire address which always raises the eyebrows of curious people and in general? I mean it's pretty crazy.

The fact that there's a lot of people talking about this right now and investigating proves the quick need of Confidential Transactions and Coinjoin. Imagine if it was your business and everyone was speculating and researching on your money movements! Please Core devs give us more privacy soon!

18 months from now, some entity will come forward to declare that they've been hacked circa this timeframe.

Some may ask why we didn’t report this to the authorities when this occurred, and the answer is that we just didn’t know what happened, didn’t want to cause panic, and were unsure who exactly we should be contacting.

Oddly enough, its first transaction was performed ~48 after the infamous Cryptsy hack: https://blockchain.info/address/1FXqE2ixnnSB1kvwbMtWma5xQ2bVbkSq3f?offset=50050&filter=0



Most the coins look like they're coming from OKCoin.

[boyptc]

Imagine how many people are brute forcing that address now... Soon, it will be "hacked".

Converted to dollars , millions!   and yes that's it, it is now the apple of the eye for
hackers.

[DomesticTrader]

How can gold be better then bitcoin if there is more revenue in the gold market, more trust from the public and investors?

[mkc]

I think this proves that Bitcoin can not be used as money laundary method because t is wide open. Anybody can see it.

[fenican]

How can gold be better then bitcoin if there is more revenue in the gold market, more trust from the public and investors?

Can you send gold almost instantly to someone halfway around the world who has no physical address? You can send him Bitcoin if he has ever given you a public virtual address.

[richkellj]

Imagine how many people are brute forcing that address now... Soon, it will be "hacked".

Wont be hacked, if he transfers it in some other different wallets

[Druze]

this is a little misleading because it is no where near the final balance

[pooya87]

i don't know what all the fuss is all about in here, that is juast a popular address that has been working for a long time and 4800BTC balance or as your initial title before edit 1,885,514BTC is nothing for services.

when you lose it on that address, i think you are going to have a heart attack if you click on these
https://blockchain.info/address/155fzsEBHy9Ri2bMQ8uuuR3tv1YzcDywd4 7100BTC balance - BitClub Network
https://blockchain.info/address/1dice8EMZmqKvrGE4Qc9bUFf9PX3xaYDp 1,020,331BTC received - SatoshiDICE
https://blockchain.info/address/1Mpce11eUTuP9mxyDixdFbJzPrdNEJkgB4 1,490BTC bal. - KnCMiner

https://blockchain.info/popular-addresses more