The platform blockchain Ethereum enables users to use elliptical curve (ECC) cryptography to provide greater security. Users can create a public key and a private key. The private key is only known to the user and keeps it hidden and safe somewhere. The public key, on the other hand, is used to create the Ethereum address.
When someone signs up for a transaction, he uses his private key and the signature is automatically checked by Ethereum.
Then a transfer is displayed as a transaction between two Ethereum addresses.
When someone wants to create his keys, he starts with the private one. The private key consists of 256 bit. The public key is a point on the curve secp256k1 ECDSA (x, y point) [here]. Then use Keccak-256 (aka SHA-3) to create a hashed key and finally create the public address Ethereum [here]:
The private key that a user creates must be completely random. You can create 2²⁵⁶ different keys. So the chances of matching a private key and a public key are:
1 in 1.550.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000.000 000 75 (XNUMX zeros).
You can see a description of the code here.
Adrian Bednarkek wanted to see if he could guess one's private address. If someone has the private key of a user, they can easily steal cryptocurrencies by signing a transaction with their private address and then transferring cryptocurrency (Ether) to their account.
Adrian and his team tried billions of addresses and were able to guess hundreds of private addresses. In the end, 34 was scanned billions of addresses and 732 keys were found. The team calculated that even one of the accounts they could guess could accumulate 45.000 Eth, which corresponds to about 7 million dollars.
Therefore, those who are cryptocurrency users should be very careful. If someone steals your private key, create a duplicate or create a weak address, gain access to your account and steal cryptocurrencies. Unfortunately, in the area of cryptocurrency users are responsible for their security. If they lose their money, nobody will compensate them.