Security Briefing: New encryption standards unveiled, cellular hack found
A new line of defense is emerging against the threat of supercomputer brute force. Learn more in this week's briefing...
U.S. government releases first set of quantum-resistant encryption standards
A common form of bitcoin security FUD is the rise of quantum computing, a term for supercomputers with processing power that are orders of magnitude greater than what we have today.
Hypothetically, quantum computers could someday be capable of attacking cryptography, bitcoin, and the internet as we know it. But it requires a massive amount of innovation on par with cold fusion or a mission to Mars — still quite theoretical for now.
And innovation cuts both ways. For years, cryptographers and technologists have been working to develop fresh algorithms that are hardened against future quantum attacks, and those efforts are beginning to bear fruit. On Tuesday, the U.S. Department Commerce’s National Institute of Standards and Technology (NIST) rolled out its first set of quantum-resistant standards with three algorithms.
While these standards have not been implemented in bitcoin and there's more research to be done, the standards are a positive sign in the quest for post-quantum encryption.
🔑 Key Insight: Every now and then, cryptographic algorithms need to be rotated to the latest tech. Today, we use addresses with more advanced script types than even Satoshi used back in the day. Hard money gets harder. Stay tuned.
Research: Hackers could snoop on mobile phone through 5G baseband exploit
Pennsylvania State University researchers said they uncovered a number of vulnerabilities in 5G basebands that may have enabled hackers to monitor and exploit mobile phone users.
Basebands are processors that manage cellular connection on your device. At the Black Hat security conference, researchers said they were able to manipulate backbands to connect to a fake station and downgrade a device from 5G to lower protocols, which would help a malicious actor spy on user communications.
This type of exploit has tremendous potential for phishing attacks because it essentially hijacks your network connection. The researchers said they had been in touch with vendors and many of the flaws had been corrected.
🔑 Key Insight: This is one of many reasons why it's essential to stay on top of security updates for your mobile devices. If you carry them around with you all the time, the attack surface is significant.
Listen: Jameson's final appearance on What Bitcoin Did
The longtime staple of bitcoin podcasts, What Bitcoin Did, will soon air its final episode at the end of August after an impressive run.
Jameson has been a frequent guest on the show through the years, and he recorded one last time following Bitcoin 2024 in Nashville. In this episode, he discussed several important components of keeping you and your bitcoin safe such as:
- Authentication in a world of deepfakes
- The game theory behind physical attacks
- Reflections on a swatting
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