FUD
Lol, bitcoin, wich has a market cap of less than 50 millions of $ discover a weakness that no one in all the world governments and banks and whatelse and trillions of $ discovered? Yeeeah sure. And what about Area 51? I've heard they have aliens there!!!
Topic: what is the "scratch"? it's FUD or truth? - page 3. (Read 4327 times)
Someone was paid by the banking industry to discredit Bitcoin?
Doesn't seem that way to me.
Assuming he's correct... The bitcoin system has proved useful in revealing a minor issue with SHA256 ... which the banks (and military) also use.
Note that many US military systems are still in the process of migrating *to* SHA256.
It's highly unlikely that these surface scratches indicate a massive reduction in the security and utility of SHA256.
It's more a case of 'orderly migration' to something stronger - rather than 'panic exit'.
Someone was paid by the banking industry to discredit Bitcoin?
How does this discredit Bitcoin?
Someone was paid by the banking industry to discredit Bitcoin?
(sarcasm attempt fail)
(sarcasm attempt fail)
see also the brief bio:
So it seems the original title was 'SHA256 vulnerabilites exposed by Bitcoin'.
Ahh.. who would have thought bitcoin would be so useful to the banking industry as to help expose cryptographic weaknesses!?
Quote
Frans Lategan is a security consultant with Absa Bank. His presentation, titled SHA256 vulnerabilities exposed by Bitcoin, will contextualise Bitcoin, discuss the technical workings of Bitcoin and SHA256, and look at divergences between expected and actual findings for SHA256.
(from http://www.itweb.co.za/index.php?option=com_content&view=article&id=50468)
(from http://www.itweb.co.za/index.php?option=com_content&view=article&id=50468)
So it seems the original title was 'SHA256 vulnerabilites exposed by Bitcoin'.
Ahh.. who would have thought bitcoin would be so useful to the banking industry as to help expose cryptographic weaknesses!?
Probably FUD.
Sell all the BTC !
Sell all the BTC !
http://www.itweb.co.za/office/securitysummit2012/PressRelease.php?StoryID=228225
Scratches on the Surface of SHA256
A closer look at the cryptography in use for digital currency Bitcoin shows new vulnerabilities in SHA256, says Absa information security researcher Frans Lategan.
Issued by: ITP Communications
[Johannesburg, 26 March 2012] -
Frans Lategan – Absa information security researcher and speaker at the ITWeb Security Summit.
Frans Lategan, who will be one of the expert speakers at the annual ITWeb Security Summit, in May, says he will reveal for the first time at the Summit newly-discovered weaknesses in the gold standard cryptography.
Describing the vulnerabilities as “scratches in the paintwork, rather than a train smash”, Lategan says his findings nevertheless indicate that vulnerabilities can exist even in trusted algorithms in use to protect currency as valuable and widespread as Bitcoin.
Lategan explains that Bitcoin, a fast-growing global digital currency that resides solely in the cloud, has already been the victim of attacks.
“The downside of virtual currency such as Bitcoin is that there is no recourse if it is hacked or stolen,” he says.
Which is why any vulnerability in the security around it is of interest.
ITWeb Security Summit
The ITWeb Security Summit and Awards takes place from 15 to 17 May 2012. For more information and to reserve your seat, please click here.
Lategan points out that SHA256, in use for over a decade, will be replaced by the SHA3 hash family in the foreseeable future.
The annual ITWeb Security Summit will take place from 15 - 17 May 2012 at the Sandton Convention Centre. For more information and to book your seat, go to www.securitysummit.co.za.
EDITORIAL CONTACTS
ITP Communications
Leigh Angelo
(011) 869 9153
[email protected]
Scratches on the Surface of SHA256
A closer look at the cryptography in use for digital currency Bitcoin shows new vulnerabilities in SHA256, says Absa information security researcher Frans Lategan.
Issued by: ITP Communications
[Johannesburg, 26 March 2012] -
Frans Lategan – Absa information security researcher and speaker at the ITWeb Security Summit.
Frans Lategan, who will be one of the expert speakers at the annual ITWeb Security Summit, in May, says he will reveal for the first time at the Summit newly-discovered weaknesses in the gold standard cryptography.
Describing the vulnerabilities as “scratches in the paintwork, rather than a train smash”, Lategan says his findings nevertheless indicate that vulnerabilities can exist even in trusted algorithms in use to protect currency as valuable and widespread as Bitcoin.
Lategan explains that Bitcoin, a fast-growing global digital currency that resides solely in the cloud, has already been the victim of attacks.
“The downside of virtual currency such as Bitcoin is that there is no recourse if it is hacked or stolen,” he says.
Which is why any vulnerability in the security around it is of interest.
ITWeb Security Summit
The ITWeb Security Summit and Awards takes place from 15 to 17 May 2012. For more information and to reserve your seat, please click here.
Lategan points out that SHA256, in use for over a decade, will be replaced by the SHA3 hash family in the foreseeable future.
The annual ITWeb Security Summit will take place from 15 - 17 May 2012 at the Sandton Convention Centre. For more information and to book your seat, go to www.securitysummit.co.za.
EDITORIAL CONTACTS
ITP Communications
Leigh Angelo
(011) 869 9153
[email protected]
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