In a unique initiative termed “Sats Chase,” prominent Bitcoin organizations such as Wasabi Wallet, Blockstream, BTCPay, and Trezor, alongside eight others, have joined forces to create a global Bitcoin scavenger hunt.
This engaging event commences on January 23, 2023, and extends over an entire week. During this period, the collaborating companies will slowly unveil seed words belonging to a Bitcoin wallet, packed with 3,454,811 sats. Bitcoin enthusiasts worldwide are invited to unravel this digital puzzle and claim the wallet’s bounty.
In an official press release shared with Bitcoin Magazine, it’s described that the key to unlocking this mystery lies in brute-forcing the seed. Participants will need to uncover the seed words and a passphrase, sort them in the accurate sequence, and use the resulting backup to retrieve the wallet’s funds. As more clues get disclosed, the task of brute-forcing becomes simpler. Thus, a race against time begins as contenders across the globe strive to be the first to decode the wallet.
A Bitcoin address protected by a 12-word passphrase (BIP39) was generated and currently holds the sats in contention. Each component of the wallet’s puzzle, including the passphrase, was distributed among the 12 partners. From January 23, each participant will disclose their clue on social media using the hashtag #SatsChase. If the wallet remains uncracked by the week’s end, additional hints will be provided.
The collaborating organizations include renowned names such as:
- BTCPay
- Trezor
- Cryptosteel
- Blockstream
- Bull Bitcoin
- Hodl Hodl
- Bitcoin Reserve
- Coinkite
- Swan Bitcoin
- BTCTKVR
- mempool.space
- Wizardsardine
For comprehensive details about the competition and real-time updates on the revealed clues, enthusiasts can visit SatsChase.com.
Added Value: This event is not just a playful exercise but an educational endeavor aimed at enhancing understanding of Bitcoin wallet security. By participating, Bitcoin enthusiasts get the opportunity to explore and comprehend important aspects of Bitcoin wallets, such as script types, derivation paths, checksums, passphrases, and BIP-39 seed words. Furthermore, it sparks the interest of the global Bitcoin community, promoting camaraderie and friendly competition among users worldwide. As such, “Sats Chase” serves as an innovative approach to learning about Bitcoin while having fun and potentially earning a satoshi-filled prize.