What if you knew Huobi's private key?

[BlackHatCoiner]

Let's assume that you guess the correct private key of Huobi's cold wallet. What would you do?

35hK24tcLEWcgNA4JxpvbkNkoAcDGqQPsP right now has 255,502BTC

If you steal them, there are many bad cases. First of all (I'm not sure), they may find your IP address that you did that. If you send an information of 255kBTC the node that will receive it (if you use a wallet) will know your IP address. It's a matter of time to find you. (if you're unlucky too)
If you are a node, the first node(s) that will receive it will know you're the guy.

The other bad case is that bitcoin price will drop DRAMATICALLY! Imagine yourself reading the news that some hackers stole 255kBTC, wouldn't you be a bit afraid? Especially the other rich addresses, that knew how much Huobi was protecting it. We would forget the possible $20k of 2021.

So even 1 satoshi or 255kBTC would make you a thief that could end up in a difficult situation.

On the other hand, you only live once, hah?

[The Cryptovator]

For me, I can't imagine what I am unable to do ever. It's impossible to assume private key of Houbi's cold wallet. Personally, I believe most of big exchange are using the multising cold wallet. So even you assume single private key, then you will not able to transfer funds alone. However, if in case someone able to hack this wallet, then bitcoin price would fall due to FUD. But believe it will never happen.

I am wondering are there any block explorer or anything that we could check the address if its multising? I am not a tech guy so I am unable to use any script.

[mk4]

Having such guilt of stealing money from thousands and millions of people won't be worth it. Unless you're a psychopath and don't feel any guilt at all. And along with that, you're going to be digitally on the run your whole life because a lot of people will be watching and doing chainalysis every time the funds moved.

Both downsides heavilymassively outweigh the riches you gain from stealing that amount of money in my opinion, assuming you even get to actually spend them in the first place.

[davis196]

Let's assume that I guess the correct private key.Yeah,but guessing the correct private key will take millions of years.
This post is seems like pointless fantasizing.Are you suggesting that you know the private key of Huobi wallet?
This is something like a philosophical dilemma.Do you choose to be a very rich guy with big problems for the rest of you life,or you choose to be a poor guy with small problems and a clean conscience?I'll choose the second option.
OP,can you share with us why did you come up with the idea of writing this forum thread?

[cryptomaniac_xxx]

With so many blockchain analysis company and private bitcoin address trackers out there, it will be very difficult to get away and stole that huge amount of bitcoin in one get go. You can probably can get away with it in the beginning, maybe around 2010-2013, but we evolved already, so it's not going to be easy. On the contrary it will be a burden on your end to hide your track, so it is not worth it.

[hatshepsut93]

Let's assume that you guess the correct private key of Huobi's cold wallet. What would you do?

You can't guess a private key. It's like asking "what if you won all lotteries, casino and sports betting bets every day for the rest of your life".

If you steal them, there are many bad cases. First of all (I'm not sure), they may find your IP address that you did that. If you send an information of 255kBTC the node that will receive it (if you use a wallet) will know your IP address. It's a matter of time to find you. (if you're unlucky too)
If you are a node, the first node(s) that will receive it will know you're the guy.

Hackers use ToR and other tools for hiding their identities. If it was like you're saying, we'd track every single exchange hacker.

The other bad case is that bitcoin price will drop DRAMATICALLY! Imagine yourself reading the news that some hackers stole 255kBTC, wouldn't you be a bit afraid? Especially the other rich addresses, that knew how much Huobi was protecting it. We would forget the possible $20k of 2021.

It would be quite bet, but in some time Bitcoin would recover.


Now, what I would have done if I knew their private key, is notifying them about the flaws in their security. They'd likely give me a few BTC as a bug bounty, and I'd be more happy with it than with 250k stolen coins.

[Review Master]

Let's assume that you guess the correct private key of Huobi's cold wallet. What would you do?

If anyone guess the correct private of Huobi's or any exchange's cold wallet than all other exchanges will block/freeze your wallet address to protect the users funds because it's the bond of the exchanges. Whenever any exchanges hack and analyzers finout the hacker's addresses , than all other exchanges block/freeze the addresses so that hacker can't convert that stolen funds.So, it's useless even if anyone guess the correct private key and also price of btc won't drop dramatically because only newbies will sell out their crypto and real crypto users won't do that. Besides, whales always try to protect the ecosystem , even they are making profits sometimes, imo.

[Alobo Realer]

In such case I will stop imagining, cuz that is the only solution to all the proposed problems. Guessing their private key is impossible and well illegal and fraudulent. Live the 200+K BTC and hustle to make use.

[tbct_mt2]

For me, I can't imagine what I am unable to do ever. It's impossible to assume private key of Houbi's cold wallet. Personally, I believe most of big exchange are using the multising cold wallet. So even you assume single private key, then you will not able to transfer funds alone.

Days when exchanges use hot wallet to store their exchange and customer funds gone away too far. After many terrible hacks in the past and simultaneously supported by the development of Bitcoin and wallets, they use multisignature wallet and cold wallet to have better security.

Some people don't know the technically wallet migrations of exchanges, and they said "Oh, look at it, my bitcoin was sent out immediately when I sent them to my exchange address and got some confirmations. My bitcoin is hacked on that exchange!"

Lessons learned that if exchange fund is stored in a single wallet and only the owner has access (with non-multisignature wallet), if owner passes away, the fund will be gone too.

I am wondering are there any block explorer or anything that we could check the address if its multising? I am not a tech guy so I am unable to use any script.

I have not heard any of bitcoin explorers provide the feature. You can recheck all explorers in the List of useful Bitcoin block explorer

[UserU]

l'd just park it somewhere and gain the rightful access to the interest until they require me to return the funds. Even 1 week is good enough to earn a sum

[Janation]

My friend also asked me a question close to this and its funny since he answered it himself,  he said that it is a dillema.

I ask him how is this a dillema? He answered that knowing the consequences of what will happen, you are also considering the good possibilities of what can happen to you. Either you tell it to the owner, you rob all of it and that also means robbing the people's money or just take out small parts of it for you to use it.

For me, you have a choice but it is not a dillema since you already know the key and doing nothing or telling them you know it is the best thing to do rather than stealing people's hard work.

[larus]

The best option is to tell Huobi that you actually could get it and receive some bounty for this

[Oasisman]

Is this post for fun? Lol
Or this is something like gathering idea of how to run away without getting caught when someone hacked into a huge amount of Bitcoin.

Well, Houbi's wallet is indeed stored with ridiculously huge amount of Bitcoin. If "I" have their private keys, I will distribute fractions of Bitcoin into different addresses randomly. Like playing the Robinhood role. Lol
Since, It's almost impossible that you're not being caught when all of the people are trying to locate you and the IP addresses that you're using.

[UserU]

Is this post for fun? Lol
Or this is something like gathering idea of how to run away without getting caught when someone hacked into a huge amount of Bitcoin.

Well, Houbi's wallet is indeed stored with ridiculously huge amount of Bitcoin. If "I" have their private keys, I will distribute fractions of Bitcoin into different addresses randomly. Like playing the Robinhood role. Lol
Since, It's almost impossible that you're not being caught when all of the people are trying to locate you and the IP addresses that you're using.

Hacks happen every now and then so it's not always impossible to run away

[fiulpro]

Let's assume that you guess the correct private key of Huobi's cold wallet. What would you do?

35hK24tcLEWcgNA4JxpvbkNkoAcDGqQPsP right now has 255,502BTC

If you steal them, there are many bad cases. First of all (I'm not sure), they may find your IP address that you did that. If you send an information of 255kBTC the node that will receive it (if you use a wallet) will know your IP address. It's a matter of time to find you. (if you're unlucky too)
If you are a node, the first node(s) that will receive it will know you're the guy.

The other bad case is that bitcoin price will drop DRAMATICALLY! Imagine yourself reading the news that some hackers stole 255kBTC, wouldn't you be a bit afraid? Especially the other rich addresses, that knew how much Huobi was protecting it. We would forget the possible $20k of 2021.

So even 1 satoshi or 255kBTC would make you a thief that could end up in a difficult situation.

On the other hand, you only live once, hah?

If I did know the private key of the aforesaid person , I would not touch the coins at the end of the day we are responsible for the image of cryptocurrencies like Bitcoins and also our image in our own soul.

There is no way that I would like to think otherwise plus this is really a bad idea and I don't really like the intentions you might have had while posting this comment.

I have a local Bitcoin community , most people I know , acquaintances and they do need help sometimes with buying/selling of Bitcoins so they transfer their money to me or their cryptocurrencies in my wallet. It have never ever crossed my mind to do something pity. All am worried about is their money being safe.

If there is any money that a person should claim and respect is their own hard-earned money .

I hope the person did keep his Bitcoins safe and maybe he should shift the Bitcoins in a hardware wallet securely and these kind of information should not be posted , where did the privacy in cryptocurrencies went ?

Let's be responsible 💪

[BrewMaster]

Let's assume that you guess the correct private key of Huobi's cold wallet. What would you do?
Imagine yourself reading the news that some hackers stole 255kBTC,

there is a big difference between "guessing" the private key and "hacking" the wallet of some centralized service. the later is happening too often and even though it affects the price but in the end nobody cares about it. there has been lots of cases and many of them huge.

the former on the other hand is simply impossible and it is worth nothing discussing about it. if that happened it would be the end of bitcoin, it won't matter what the price was before or how much balance that address had! but the difference is that long before "guessing" becomes a possibility we will have had switched algorithms.

[BlackHatCoiner]

Why so doom about guessing? I didn't say that it is possible and I read replies kind "You can't do that", "There's no point to discuss it since it's impossible". I say IF. I know it's not possible.

[BrewMaster]

Why so doom about guessing? I didn't say that it is possible and I read replies kind "You can't do that", "There's no point to discuss it since it's impossible". I say IF. I know it's not possible.

well i said there is no point because it has been discussed a million times under different disguises such as collision, creating the same wallet as someone else, finding the same private key twice,... otherwise if you like we can repeat it all over again!

[pixie85]

Let's assume that you guess the correct private key of Huobi's cold wallet. What would you do?

I'm not a thief so I'd probably try to contact them and tell them that I could have made use of that but didn't, saving them a lot of trouble and money and ask for a reward.
I'd prefer a few thousand dollars of honest money than millions and a lifetime of looking over my shoulder and taking pills before going to bed.

The other bad case is that bitcoin price will drop DRAMATICALLY! Imagine yourself reading the news that some hackers stole 255kBTC, wouldn't you be a bit afraid?

No, I wouldn't. It's still money in the network just like Mt.Gox money or DPR's money. They all belonged to criminals at some point. All bitcoin in circulation will at some point go through the hands of criminals just like most dollar bills you use every day were one day used to buy drugs or even snort them.

[bL4nkcode]

Well, assuming if I guess that private key (which probably will not happen) then I guess that's not stealing right? Considering I just guess it by eg. creating a new wallet not some hacking since there's no way I will do that. But probably it's stealing once I starting to transfer the funds to another address since it's not mine literally.

If that happens then 100% I'd be nervous, it's just like I won a million-dollar lottery without having a lottery ticket. Sure I would ask someone I knew, or ask the community what actually happens. Probably they will suggest letting Huobi know about this and let them transfer the fund to another wallet they owned since I have a copy of the private key of that wallet addy.