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Cryptocurrency Startup Loses Encryption Key for Electronic Wallet

published on 2023-09-06 11:05:27 UTC by Bruce Schneier
Content:

The cryptocurrency fintech startup Prime Trust lost the encryption key to its hardware wallet—and the recovery key—and therefore $38.9 million. It is now in bankruptcy.

I can’t understand why anyone thinks these technologies are a good idea.

Article: Cryptocurrency Startup Loses Encryption Key for Electronic Wallet - published about 1 year ago.

https://www.schneier.com/blog/archives/2023/09/cryptocurrency-startup-loses-encryption-key-for-electronic-wallet.html
Published: 2023 09 06 11:05:27
Received: 2023 09 06 11:22:59
Feed: Schneier on Security
Source: Schneier on Security
Category: Cyber Security
Topic: Cyber Security
Views: 0