[2017-04-18] LBC: How This Group Aims to Find a Bitcoin Cryptographic Collision

[TwoTimes]

Around eight months ago a group called “Large Bitcoin Collider” (LBC) was formed aimed at cracking bitcoin wallets with hopes of finding a cryptographic collision within the protocol. The LBC server lets anyone download the software and attempt to take a crack at Bitcoin’s underlying cryptography.

Announced last year on Bitcointalk.org a ‘hero member’ from the forum named Rico revealed an unusual project. Rico detailed the formation of a new group of cryptography proponents looking to brute-force bitcoin addresses and hopefully find a cryptographic collision along the way. The group’s project is a homage to the Large Hadron Collider, the world’s strongest particle collider.

Read More Here >>> https://news.bitcoin.com/group-aims-find-bitcoin-cryptographic-collision/

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[TraderTimm]

Unlike the Large Hadron Collider - the Large Bitcoin Shakedown is a brute-force attempt on addresses and known scripts (such as the puzzle addresses) to extract money. They've admitted as much, seeing how they're trying to brute-force the easy pickings. For the rest of "real" wallets out there, they are out of luck - but it won't stop them rattling each door knob sleazy robber style until they chance upon something.

The odds of doing so are very, very, very remote - which brings to mind - why are they doing this at all? Oh that's right, a lack of moral compass and the "if you can do it, you should" mindset. This has nothing to do with "testing" security, the statistics are already out there that show the keyspace is mind-bogglingly large. The real effort here is to exploit some badly made wallets so they can profit from it.

They're thieves in "researchers" clothing.