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Author Topic: Encrypting the wallet and old backups  (Read 135 times)
kostepanych2
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January 22, 2019, 01:03:39 PM
 #1

There is the message when encrypting core wallet:

"For security reasons, previous backups of the unencrypted wallet file will become useless as soon as you start using the new, encrypted wallet."

What does it mean? There is no any problem to export PK from address from unencrypted backup...

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January 22, 2019, 01:35:41 PM
Merited by ETFbitcoin (1)
 #2

There is the message when encrypting core wallet:

"For security reasons, previous backups of the unencrypted wallet file will become useless as soon as you start using the new, encrypted wallet."

What does it mean? There is no any problem to export PK from address from unencrypted backup...
Hi,

it just flush the keypool so that future transactions are not made from/to the unencrypted wallet.
source : https://bitcointalk.org/index.php?topic=643878.0

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January 22, 2019, 07:45:21 PM
 #3

You should do it to protect the funds in your wallet since someone could get hold of your unencrypted version and still gain access to your funds. Take a look below:
Quote
If an attacker manages to compromize your backups he will be able to access the unencrypted private keys using your unencrypted backup. It doesnt matter that you encrypted these keypairs later as long as you have unencrypted backups floating around somewhere.

Source of info:
https://www.dash.org/forum/threads/question-regarding-wallet-dat-file-saved-prior-to-encription.235/#post-1657

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HCP
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January 22, 2019, 09:22:59 PM
Merited by suchmoon (4), ETFbitcoin (1), bones261 (1)
 #4

Assuming this is an "HD" Bitcoin Core wallet... when you encrypt the wallet for the first time, it changes the seed, for security reasons. This means that any new addresses that are generated in the encrypted wallet, are generated from a completely different seed.

Any previous (unencrypted) backups, will only have access to the private keys/addresses that were generated BEFORE the wallet was encrypted. The unencrypted backups will NOT be able to generate the same private keys/addresses as the now encrypted wallet, as they have the old seed.

Hence the warning that previous backups will become useless as soon as you start using the new wallet.

In short: if you encrypt your wallet, make new backups!

kostepanych2
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January 23, 2019, 11:53:15 AM
 #5

So, if I understand correctly...

1) It is possible to transfer coins from old backup from addresses created before encrypting/changing password...

But...

2) After encrypting, new generated 'change' addresses will be different. And after few transactions there will be zero balance on the old backup wallet...

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January 23, 2019, 04:56:50 PM
Merited by ETFbitcoin (1)
 #6

1. Yes, If someone gains access to your unencrypted wallet he should be able to move the funds from the addresses created with the private keys before the wallet was encrypted.
2. Like HCP said, once you encrypt the wallet its seed will change and therefore all new addresses will be created with the new seed.

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