Most Secure Crypto Wallet: Thousands of Hackers Failed to Drain $150k After Seed Phrase Revealed

As crazy as it seems, thousands of hackers tried to steal 150,000 USDC from a wallet that revealed its seed phrase and couldn’t. Discover why.
Smart Contract Wallet
• Feb 13, 2024
3 min read
Most Secure Crypto Wallet: Thousands of Hackers Failed to Drain $150k After Seed Phrase Revealed

Picture this: a wallet containing 150,000 USDC openly shares its seed phrase, inviting anyone to try their luck at accessing it.
You’d think it’d be an easy grab, right? Wrong.

Thousands of hackers tried and failed. Why? Because Braavos is the most secure crypto wallet. Let’s dive in.

The Capture The Flag Challenge of 150,000 USDC

On February 6th at 5:22 PM UTC, Braavos announced via a tweet on its X account its plan to disclose the seed phrase of a wallet holding 150,000 USDC. It issued a challenge stating that anyone capable of bypassing its two-factor authentication (2FA) security would gain access to the funds and claim the funds as a prize.

By February 7th at 8:02 AM UTC, Braavos disclosed the seed phrase:

This move prompted thousands of users to try and hack the wallet, all aiming to steal the funds. Even seasoned hackers entered the fray, employing tactics such as trying to withdraw via smart contract, disabling 2FA through CLI or block explorer, conducting man-in-the-middle attacks, brute-forcing the key, launching DDoS attacks, and creating new accounts with new hardware signers hoping they would be compatible. Despite all these efforts, no one succeeded in stealing the funds.

Most Secure Crypto Wallet - Seed Phrase hack examples

The challenge concluded on February 10th at 8 AM UTC, with the funds remaining untouched.

It’s a universally accepted principle that one should never share their seed phrase with anyone. So, how could the Braavos wallet intentionally leak its seed phrase and still remain secure?

Why Traditional Security Measures Fall Short

Seed phrases are based on the weakest form of security – the ‘something you know’ text password. 

Hackers have proven time and again that it is relatively easy to engineer phishing attacks and simply persuade users to disclose their seed phrases. Moreover, accounts protected solely by the seed phrase are highly vulnerable to malware; for instance, a user clicks a malicious link, and their money’s gone. Additionally, a buggy or malicious update to the wallet software could result in all assets in a user’s wallet being stolen.

The result? A heavy burden on the shoulders of crypto users and a constant fear of losing their funds.

Enter Braavos: The Most Secure Crypto Wallet

Braavos didn’t just identify the problem; the team engineered the solution. By launching the Capture the Flag challenge, Braavos put 150,000 USDC on the line to demonstrate the wallet’s uncompromised security. Unlike traditional wallets, which rely on a single authentication form, Braavos introduced a combination of two-factor authentication (2FA), leveraging:

  • Something you have: The security chip in your mobile device.
  • Something you are: Your biometric identity (fingerprint or 3D face scan).

This approach significantly enhances security, making unauthorized access close to impossible. 

Braavos’ Security Features: A Closer Look

  • Hardware Signer: Transactions are as simple and secure as using Apple Pay or Google Pay.
  • Multi-Signer: For those seeking an added layer of security.This method requires signatures from two different devices for a transaction to be executed, employing all three types of authentication – something you know, have, and are. This approach provides a safer and more intuitive user experience.

Why Braavos Stands Out

  • Innovative Security: Leveraging account abstraction on Starknet, Braavos sets a new benchmark in crypto security, while preserving decentralization and self-custody.
  • User-Centric Design: Prioritizing security without compromising user-experience.
  • Proven Resilience: The team track record in the ecosystem, the impeccable audit and the recent Capture the Flag challenge showcased the wallet’s impregnable security and the company’s commitment to innovation.

most-secure-crypto-wallet-for-Starknet (1)

(⭐ 1FA, ⭐⭐  2SV , ⭐⭐⭐ 2SV Decentralized , ⭐⭐⭐⭐2FA , ⭐⭐⭐⭐⭐3FA)

Taking Action: The Braavos Call

Are you ready to say goodbye to the vulnerabilities of traditional seed phrases and hello to peace of mind? By choosing Braavos, you’re not just selecting a wallet; you’re embracing a revolution in crypto security.
Download the Braavos Wallet now

Thousands of hackers couldn’t breach Braavos. It’s not just a statement; it’s a testament to Braavos’ unparalleled security measures. In a world where digital assets are more precious than gold, having a wallet that stands the test against seasoned hackers is invaluable.

Bertrand Blancheton

Bertrand Blancheton

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