Before his epic fall, Sam Bankman-Fried was hailed as a crypto genius. Some clients saw smoke and mirrors. 

#CryptoFail
#FTX

https://www.nbcnews.com/news/epic-fall-sam-bankman-fried-was-hailed-crypto-genius-clients-saw-smoke-rcna56583

https://www.vice.com/en/article/dy7epm/sam-bankman-fried-was-supposed-to-be-different-he-wasnt

I had totally missed that Bloomberg article mentioned here (https://www.bloomberg.com/news/articles/2022-04-25/sam-bankman-fried-described-yield-farming-and-left-matt-levine-stunned)
Basically SBF is talking about a combo of bootstrap + psyops + mass histeria (aka #FOMO), and of course #HODL (because the operation needs *sustained* energy input in order to survive).
#cryptotrading #cryptofail

Nobody wants to pay more than 7k for NFT of Jack Dorsey's first tweet.

https://www.neowin.net/news/nobody-wants-to-pay-more-than-7000-for-nft-of-jack-dorsey039s-tweet-which-first-sold-for-29m/

#nft #crypto #cryptofail

Was pleasantly surprised today by https://bugzil.la/524403 being resolved. Only to see it immediately followed up by: "Script error. Ignore." So #Firefox still won't properly protect the database of locally stored passwords, and no plans change this it seems. #cryptofail

So somebody built an "unhackable" USB stick that would only unlock with the right iris scan and password. And then a particular USB command makes the device produce the credentials needed to unlock it, as clear text? Fascinating... #cryptofail

https://twitter.com/statuses/1126381669869604869

Dear @acebit, using AES-ECB is 𝘯𝘰𝘵 "Best possible encryption" - it's pretty broken encryption actually. Maybe you should change the way you describe #PasswordDepot? For reference: https://en.wikipedia.org/wiki/Block_cipher_mode_of_operation#Electronic_Codebook_(ECB) 1/5

#infosec #cryptofail #passwords

He didn't check how they derive the encryption key from your password, so I took a quick look. Apparently, #7zip uses PBKDF2-HMAC-SHA1 with 1000 iterations (hardcoded). In other words, even with the rest of it all implemented flawlessly you better choose a damn strong password if file encryption should be of any use.

#crypto #cryptofail

Michal Stanek over at Twitter did a quick look at the crypto behind #7zip file encryption. Not entirely surprisingly, what he found wasn't pleasant:

https://twitter.com/3lbios/status/1087848040583626753

#crypto #cryptofail