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I am specifically referring to this over at bitcointalk.org.
The general consensus I gathered from reading the thread is that this is not a hoax. There seems to be a group of generated bitcoin addresses that can be considered weak where its private key can be recovered in a reasonable amount of time. There's currently no known way to determine if a given btc address is weak or not.
What is not clear to be me is how it is able to accomplish this. What is the basic idea behind this attack that allows it to even work? Explain it to me like I was 5, if possible. Is this is a potential break of the ECC algorithm?
The argument that those keys are weak is flawed. A particular search algorithm happens to search those keys first, thus allowing it to break those keys more quickly. But if people stop using those keys because they are "weak", then the search algorithm will just start elsewhere, making those keys stronger and other keys weaker. If you avoid weak keys, then someone trying to break your key need not search any weak keys, making everyone's keys less secure. (ECDSA has no weak keys of the type that's actually weak unless your RNG is broken.) – David Schwartz – 2014-01-29T06:29:53.183