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