JUL 9 DIGEST: Brain Wallets Are Not Hacker-Proof; Blockchain Will Be Used to Verify Artwork Authenticity

A security expert is expected to unveil a new app that is able to crack remembered passphrases, known as brain wallets; Los Angeles startup Verisart will use the Blockchain to verify artwork authenticity; Crypto Facilities and Elliptic bring standards to Bitcoin trading and more top stories for July 9.

A Brain Wallet Cracker That Steals Your Bitcoins

If you are thinking of storing your bitcoins in your brain by simply remembering a passphrase and without keeping any records of private keys, then you are in for a disappointment. A security expert, Ryan Castellucci, plans to release Brainflayer an app that can crack brain wallets at the next hacker conference DefCon.

Castellucci says he is releasing the program as a public demonstration of the insecurity that exists with brain wallets.


“People still want to use brain wallets because they like the idea of a key stored in your head […] They’re in denial about how bad the situation is, and some of them are going to get screwed.”

Verisart to Use the Blockchain to Verify Artwork Authenticity

Verisart, a startup based in Los Angeles, is planning to launch an artwork authentication service that uses the blockchain. Through this service, Verisart will

Read more ... source: Cointelegraph