Schneier - Cryptocurrency Startup Loses Encryption Key for Electronic Wallet

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.



from Schneier on Security https://www.schneier.com/blog/archives/2023/09/cryptocurrency-startup-loses-encryption-key-for-electronic-wallet.html

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