Who burns more than 18BTC to 1FuckiRGCTerroristsNoBiTEXXXaAovLX and why?

[Cricktor]

What the heck is going on from block 901723 on?

Some entity already burned more than 18BTC with partly about 50x overpaid transaction fees to the burner address 1FuckiRGCTerroristsNoBiTEXXXaAovLX. It's not likely the private key is known for such a long "vanity address".



Right now, I couldn't find anything on Google about this address. I can read the message, sure, but anyway, someone's angry and pays a lot of money to shout it out.

A lot better could've been done with that money, in my opinion. A shame the coins are literally destroyed.

[Ambatman]

 The user definitely has a thing against Islamic Revolutionary Guard Corps.
I don't think the fee was a mistake too. Deliberate. Checked if there was any OP return data
But I guess the address name itself has sent a message already.

A lot better could've been done with that money, in my opinion. A shame the coins are literally destroyed.

That's the thing, but like they say
Value is subjective.
The sender considered this movement as more valuable than engaging other uses for the coins.

[Mia Chloe]

Right now, I couldn't find anything on Google about this address. I can read the message, sure, but anyway, someone's angry and pays a lot of money to shout it out.

I looked up the transaction and all evidence pointed towards a coin burn transaction. It's so sad the sender considered it fit to burn as much as 18BTC the worst part of it is Those wouldn't even have any effect on price like burning should. Those coins could have been used for something way better like supporting important decentralization and open source projects.

Sighs... I think it's high time I hit up my vanity gen / vanity search software in search of those keys probably in the next quadrillion years I'll get the keys  

[Sticky Bomb]

DE structuring the address, it shows a direct connection to Iran - Israel war and the sender is relating a provocative message to the RGC fighters which he referred to as terrorists in his message.

further DE structure in my own understanding is Fucking RGC Terrorists no bite the other suffixes is a completion and the 1 prefix is a requirement to start a BTC wallet address.

what does RGC mean:
The IRGC is an armed force charged with defending Iran’s regime. The IRGC is composed of ground, naval, and air forces; an internal security militia (the Basij); and an external operations force, the IRGC–Qods Force (IRGC-QF).

The IRGC-QF is one of the Iranian regime’s primary organizations responsible for conducting covert lethal activities outside Iran, including asymmetric and terrorist operations. Iran views terrorism as a tool to deter and counter its perceived foes, assert leadership over Shia Muslims worldwide, and project power in the Middle East.
https://www.dni.gov/nctc/terrorist_groups/irgc.html#:~:text=The%20IRGC%20is%20an%20armed,Force%20(IRGC%2DQF).


 

[The Sceptical Chymist]

What the fuck?

Can somebody 'splain to a poor old ignorant but skeptical chemist how long it'd take to generate an address like that, and what kind of hardware could do that?  Also, I skimmed through the thread and didn't do a thorough reading of it, but why are these coins considered burned?  

And assuming those 18BTC are indeed burned....wow.  Some people have more ideology and money than brains all up on the blockchainz.

[Sticky Bomb]

What the fuck?

Can somebody 'splain to a poor old ignorant but skeptical chemist how long it'd take to generate an address like that, and what kind of hardware could do that?

You can reference to this thread
https://bitcointalk.org/index.php?topic=5112311.0

You can generate it offline to generate the addresses and private keys securely.

There's online version https://joshua-zou.github.io/vanity-btc/, but I cannot recommend it since your private keys can be leaked out Unless you're just testing out the waters.

It sure takes a good computational power and hardware to generate. I'm still in generating mine for over 30 minutes with my device now without success. I'll update my reply when I succeed.

Also, I skimmed through the thread and didn't do a thorough reading of it, but why are these coins considered burned?  

This is where It gets confusing to me since the private key and public key should be shown to the person who generated them, unless they choose to discard them.

Vanity addresses are also compatible with some wallets like Electrum, Bitcoin core, ledger, treasure, Blue wallet others. You can just import it there.

[_act_]

Right now, I couldn't find anything on Google about this address. I can read the message, sure, but anyway, someone's angry and pays a lot of money to shout it out.

I looked up the transaction and all evidence pointed towards a coin burn transaction. It's so sad the sender considered it fit to burn as much as 18BTC the worst part of it is Those wouldn't even have any effect on price like burning should. Those coins could have been used for something way better like supporting important decentralization and open source projects.

There is an Iranian exchange called Nobitex that was hacked not long ago, $81 million in different coins were stolen.

The address above is one of the addressees the hackers used.

You can read about the hack on Telegram https://t.me/investigations/258

What the fuck?

Can somebody 'splain to a poor old ignorant but skeptical chemist how long it'd take to generate an address like that, and what kind of hardware could do that?  Also, I skimmed through the thread and didn't do a thorough reading of it, but why are these coins considered burned? 

And assuming those 18BTC are indeed burned....wow.  Some people have more ideology and money than brains all up on the blockchainz.

If a computer is used, it will take century according to what I saw on mastering bitcoin.



Computers nowadays have better processors but it will still take century to generate that kind of vanity address on a computer. The generation of the address can be sped up if GPUs or FPGAs are used, or ASIC can be used for better computational power generation. I do not know how much time it will take but I still think it will be a long time. It is likely an address that has no private key.

[Lucius]

People have various ways to express their dissatisfaction or happiness, I think this is just one way someone wants to show their attitude towards what is currently happening in the world. That person obviously has enough BTC to do what he's doing, and who can say it's a burn address?

Let's remember that early adopters had the opportunity to mine with their personal computers and that the reward per block was as much as 50 BTC, and that there are still people who keep their BTC from that time. 18 or 180 BTC is a small amount for some people today, although for most it represents a lot of money. Don't worry too much about things you have no influence over, and that don't concern you personally.

[_act_]

People have various ways to express their dissatisfaction or happiness, I think this is just one way someone wants to show their attitude towards what is currently happening in the world. That person obviously has enough BTC to do what he's doing, and who can say it's a burn address?

The address belongs to Isreali hacker group and Isreal is at war with Iran. The exchange hacked was an Iranian exchange, it is not just a coin that belongs to a person but it was stolen by the Isreal hacker group from the Iranian exchange. You can read what I posted about it above which explains it better.

[satscraper]

And assuming those 18BTC are indeed burned....wow.

If some wallets are able to send funds to this address, then the corresponding checksum must be valid which implies that someone has access to the correct private-public key pair. It’s virtually impossible to blindly create the vanity address with a matching checksum by chance. Interesting development -$48M Israeli-Linked Hack. Could these two events be related? ^{State rocks} .

[_act_]

Interesting development -$48M Israeli-Linked Hack. Could these two events be related? ^{State ftw} .

Yes, it is but it is $81.7 million that is now linked to the amount stolen, not $48 million. This is according to what ZachXBT posted on Telegram about it.

https://t.me/investigations/258

You do not need to join the Telegram channel before you will see what he posted about the hack.

[Lida93]

There is an Iranian exchange called Nobitex that was hacked not long ago, $81 million in different coins were stolen.

The address above is one of the addressees the hackers used.

You can read about the hack on Telegram https://t.me/investigations/258

So from the information from the telegram link you share, a pro Israel hacker group by name Gonjeshke Darande are taking responsibility of the hack to that tones of millions from Nobitex. It's both a cold war and direct military engagements from Israel.

Doesn't this has a tendency of creating a demand supply shift in bitcoin? Cos from my little knowledge about burned coins, such could lead to high scarcity in the coins circulation.

[Zaguru12]

Doesn't this has a tendency of creating a demand supply shift in bitcoin? Cos from my little knowledge about burned coins, such could lead to high scarcity in the coins circulation.

They are burning this bitcoins so it surely would have an effect in the demand and supply due to scarcity but definitely not now. 18 bitcoin is large number but still as it is now it is not that large number yet to either create a high scarcity problem or even shift the demand or supply at the moment. In the future though when the bitcoin is heavily scarce due to how low the mining reward have gone or mining rewards might have ended that’s when this effect can be felt instantly.

Take for example the early days the burning of a thousand bitcoin wouldn’t have effect compare to now, so is this one. But the good thing is all this burning will definitely be an added value in the future for early adopters

[death69]

A group called “Predatory Sparrow” hacked Nobitex (Iran’s biggest crypto exchange), stole upwards of $80 million across chains, and then burned it (yes, destroyed) right into these addresses:

1FuckiRGCTerroristsNoBiTEXXXaAovLX
TKFuckiRGCTerroristsNoBiTEXy2r7mNX
DFuckiRGCTerroristsNoBiTEXXXWLW65t
0xffFFfFFffFFffFfFffFFfFfFfFFFFfFfFFFFDead

Why burn it? To prove a point. They wanted everyone (especially Iran’s regime) to see the loot go up in smoke, make the loss as public and permanent as possible. It’s a costly signal. That fee is not an accident either. When you want your message mined now (and want everyone to know you can pay whatever it takes), you overpay. Could it have gone to better use? That’s debatable. But the permanence and spectacle of an on-chain burn like this makes sure no regime spin-doctor or internet censor can erase the message

[YOSHIE]

What the heck is going on from block 901723 on?

I have seen the discussion about this address: 1FuckiRGCTerroristsNoBiTEXXXaAovLX

One discussion in local Russia.

Блaгoдapю зa paзъяcнeния.

Cкaжитe нa ocнoвaнии cвoeгo oпытa, мoжнo ли зaбpaть мoнeты c тaкoгo aдpeca?
https://blockchair.com/bitcoin/address/1FuckiRGCTerroristsNoBiTEXXXaAovLX



У тaкиx aдpecoв ecть зaкpытыe ключи?
Я нe xoчy oбcyждaть пoлитичecкий acпeкт этoй тpaнзaкции, a вoт тexничecкий мoмeнт oчeнь интepeceн, нacкoлькo этoт aдpec нaдeжeн.
Moнeты coжжeны нaвceгдa или нeт?

And one more here.
Topic: Nobitex, Iranian crypto exchange has been exploited worth over $80M

Regardless of what they say, I don't bother, the point is I just agree what is discussed in the two topics.

[passwordnow]

So, hackers hacked this Iranian exchanged and burned these Bitcoins and probably will be followed by more money to burn by them. This is a protest done by them. While there's a positive impact to the BTC economy through this because those are gone forever, I feel bad for the innocent users who have deposited on that exchange because it could be their money. And we'll see how this develops and how that exchange will look after it or if they'll refund the users fund.

[_act_]

While there's a positive impact to the BTC economy through this because those are gone forever, I feel bad for the innocent users who have deposited on that exchange because it could be their money. And we'll see how this develops and how that exchange will look after it or if they'll refund the users fund.

Probably the exchange is going to refund their customers and I do not think the exchange will shut down because they said it is just little part of their money that was stolen, that customers funds are secure. If people do not leave the exchange, it will probably remain operational. But people should know not their key not their coins.

[Cricktor]

Can somebody 'splain to a poor old ignorant but skeptical chemist how long it'd take to generate an address like that, and what kind of hardware could do that?  Also, I skimmed through the thread and didn't do a thorough reading of it, but why are these coins considered burned?

This is not a real vanity address where the private key is actually known, because we don't have enough energy and time in this solar system to find a private key that gives you such a public address.

Therefore you can call it a burner address like e.g. 1BitcoinEaterAddressDontSendf59kuE

 

You can generate such fake vanity addresses almost instantly, correct length as required by legacy address format, and then just compute the checksum of the address which is usually the last 6 characters of a legacy address. I'm sure there are tools to do it. No electrons were harmed to try to compute an appropriate private key, not even a public key is known for it...


I didn't know about this hacked Iranian exchange. I think, it's likely that some state actors might be involved here, when it proves that stolen coins were "burned" for this "statement" address. Who else than state sponsored hackers would waste such an amount of stolen coins, unless there are some filthy rich anti-IRGC sponsors involved.

[BADecker]

I'm gonna keep 1 Satoshi... so that when it's the last one, I will own the world. 

[PrivacyG]

Today I learned, 19 Bitcoins are worth almost two million Dollars.  I do not know how and why but I did not expect this to be the case.

It is insane how in only a matter of clicks an amount that could change MANY lives significantly for the better has been burnt to an address they will likely never be recovered from.  Protest or not, this is truly insane.  You would think some body who gets access to it, even if hacked, would store it for themselves.