Shapeshift with Hardware wallet Keepkey vulnerability report

Must Read

Can XRP defend its price?

Could XRP defend its price action, and rise back to $0.30? Here is my view on how...

With a 110% increase in crypto wallet adoption rates in 2020 are we set for another Bitcoin boom?

2020 has been a massive year for crypto adoption. In July alone, over 3.5 million crypto wallet app downloads...

DeepTradeBot: The innovation of large companies at your service

DeepTradeBot is a collection of automated trading tools developed by Deep Neuro Networks LTD, a London, England-based company...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Cryptocurrency swaps and hardware wallet producer ShapeShift addressed recent KeepKey hardware wallet vulnerability allegations.

ShapeShift responded to an alleged vulnerability submitted through its responsible disclosure program in a Medium post published on Aug. 4. Per the announcement, the firm received a vulnerability report through the program on May 1, which described what the researchers believed to be a hardware vulnerability.

The purported vulnerability would allow an attacker to read what was on the wallet’s screen by monitoring power fluctuations to the display in what is known as a side-channel attack. If attackers were monitoring the power levels while sensitive information was displayed on-screen, this would ostensibly give them the opportunity to steal funds from the device.

The “vulnerability” is impractical

ShapeShift notes that, to obtain access to sensitive information displayed on-screen, an attacker would need to have physical access to the device and accurately monitor the KeepKey’s energy consumption with an oscillometer (or a similar instrument) as the information is displayed.

ShapeShift explains that, since this alleged vulnerability would require physical access, there would be a simpler way to acquire the information:

“By comparison, it would be far easier to steal someone’s Recovery Phrase by simply looking over their shoulder while they set up their KeepKey or installing a hidden camera in the room in which it was being initialized.”

ShapeShift states that a side-channel attack would require physical access, specialized equipment, hardware skills and statistical analysis of the data to derive the contents displayed based from only the display’s energy consumption. Furthermore, it claims that, even if all of those requirements were met, it would still be highly difficult to interpret the data:

“Due to the larger display in KeepKey, multiple Recovery Phrase words are displayed at once. This makes it much more difficult to identify individual words (and the order of words) based off the power used by the screen.”

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

Flyp.me Instant Crypto Exchange Now Supports REN Token Trading

Decentralized finance is leading the way of the cryptocurrency industry, with the REN Protocol at the front. REN Protocol is...

BLOCKCHAIN OVERCOMES POSSIBILITY OF FRAUD, LACK OF TRANSPARENCY AND TRUST IN THE GAMBLING INDUSTRY

DATE: 07/08/2020 In a recent study carried out by the UK Gambling Commission reveals that the gambling industry has...

The Kuailian Ecosystem, Bringing Blockchain Technology To The World

10 years have passed since the birth of Bitcoin and the first use of Blockchain, a technology that has not stopped evolving,...

Its’ Finally Here A 100% Local Non-Custodial P2P Cryptocurrency Marketplace.

Finfreeotc is soon launching a one of a kind peer to peer cryptocurrency market place. Their marketplace is 100% non-custodial,...