According to @Andre_Dragosch, Bitcoin private keys are 256-bit numbers, resulting in 2^256 possible combinations. This immense number makes it mathematically impossible to derive a private key from a public wallet address, ensuring robust security for traders and long-term holders. For crypto market participants, this verification underscores the reliability of cold storage and hardware wallets, reducing the risk of unauthorized access or theft via brute-force attacks (source: @Andre_Dragosch, Twitter, May 27, 2025).

According to ZachXBT, in December 2022, a victim lost 14 Bored Ape Yacht Club (BAYC) NFTs through a targeted phishing scheme. The scammers utilized purchased X (formerly Twitter) accounts to pose as potential licensors interested in acquiring intellectual property rights for a film, luring the victim to a phishing website where they were tricked into signing a malicious message. This incident highlights increased risks for high-value NFT holders and underscores the importance of transaction verification and wallet security. The theft of these BAYC NFTs had a significant trading impact, causing temporary price fluctuations and raising concerns about security in the NFT and broader crypto markets (Source: ZachXBT on Twitter, May 9, 2025).