These hackers are trying to break Bitcoin’s encryption, but they are highly unlikely to succeed
according to Recent reports According to Bleeping Computer, the infamous hacking group TeamTNT is back and trying to crack Bitcoin.
Attackers have reportedly hijacked servers and used vast resources to run crypto solvers for the biggest cryptocurrencies.
Bitcoin uses the secp256k1 elliptic curve for keys and signatures. This particular implementation choice baffled crypto experts as secp256k1 was little known compared to other solutions when cryptocurrencies became popular.
TeamTNT hackers are trying to break elliptic curve cryptography using stolen resources.
But their efforts should be taken with a grain of salt. Rather than actually trying to hack Bitcoin, it’s very likely they’re just playing around with new attack vectors.
Bitcoin is considered completely safe as there is currently no machine that can break it.
That said, some experts believe it will be possible to break Bitcoin in the future. Jan, U.Today report University of Sussex quantum physicist Mark Webber predicted that a quantum computer with over 300 million qubits could pose a major threat to Bitcoin.
In that case, a quantum-safe hard fork would need to be initiated to save Bitcoin from supercomputers.
One of its key selling points is that Bitcoin has never been hacked.However, Ripple CTO David Schwartz recently said that Bitcoin some serious bugs it has not yet been discovered.