Tag Archive for: Bitcoin

US Space Force Major urges Defense Department to adopt Bitcoin as an ‘offset strategy’

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U.S. Space Force Major Jason Lowery has brought a novel perspective on Bitcoin to light, extending its significance far beyond finance and into national defense and cybersecurity.

In a detailed letter to the Defense of Defense’s (DoD) Innovation Board, Lowery argued that Bitcoin and similar proof-of-work (PoW) protocols hold substantial strategic importance, urging the government to delve deeper into their potential applications.

Macrochip

The major’s letter contextualized Bitcoin within the military strategy of an offset approach. The concept historically involves leveraging technological advancements to counterbalance adversaries’ strengths.

Lowery suggested that Bitcoin and its underlying technology could serve as contemporary tools in this regard, potentially redefining the landscape of cyber warfare and defense.

Lowery described Bitcoin as a pioneering “macrochip,” a concept that transforms the global electric power grid into a vast, resource-intensive computer. This innovative approach, he argued, introduces physical costs into the digital domain, offering a new method of securing a wide array of data across the internet.

According to Lowery, this strategy challenges the conventional paradigms of cybersecurity and could mark a significant shift in protecting national interests in the digital age.

Lowery also addressed the ongoing challenges in cybersecurity, highlighting the inadequacies of existing software-based solutions. He proposed that the proof-of-work protocol, as exemplified by Bitcoin, represents a significant innovation in this field.

By introducing the notion of real-world physical costs as deterrents in cyberspace, this approach could revolutionize the way digital security is enforced.

Recommendations to DoD

The letter further explored the implications of this technology for cyber warfare and defense strategies. Lowery emphasized the need for the United States to recognize and quickly adapt to Bitcoin’s potential as a strategic offset in cybersecurity.

He warned that failure to do so could impact the global balance of power, especially in an era where digital and interconnected systems are increasingly vulnerable to security breaches.

In his role as the U.S….

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How to keep your bitcoin safe from hackers with Trezor Safe 3

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There’s a saying in crypto: Not your keys, not your coins.

While this is true, it’s also worth considering what “your” means, exactly. If, for example, you keep your cryptocurrency private key in an unprotected text file residing on your hard drive, your coins may be “yours,” but they are fairly easy for hackers to steal.

With a hardware wallet, it’s another matter.

Why use a hardware wallet?

A hardware wallet is a device designed specifically to keep your cryptocurrency safe. Typically, it’s a small gadget with no other use case than to store your BTC, ETH, or whichever digital asset you fancy.

Hardware wallets almost always have a “secure element,” which includes a chip designed to guard your data from malicious apps and attacks. They also typically have a passphrase that lets you access the data stored on the wallet.

Yes, you can choose to gain access to your bitcoin via an app on your computer or phone. But these devices do a million other things besides securing crypto. You probably have dozens of apps installed, and as well as access to a variety of websites and services, thereby increasing the chance of something malicious sneaking in.

Conversely, crypto hardware wallets only have one app for the following purposes: send, receive, and secure your crypto. That’s it. Nothing else goes in or out.

Testing the Trezor Safe 3

For the purpose of this article, I’ve used the newly launched Trezor Safe 3 (Bitcoin Edition), a $79 wallet from Trezor. This particular hardware wallet is interesting because it’s even more straightforward to understand and use than other devices; it’s specifically designed to secure your bitcoin. No fuss, no complications: You guard your bitcoin with Trezor Safe 3, keep it somewhere safe (no pun intended), and never touch it until you need to access it.

The Trezor Safe has two buttons and a tiny, 0.96-inch, monochromatic OLED display. It’s connected to your computer via a USB-C port. It’s a simple device with a singular purpose — and many users will appreciate that.

Setting up Trezor Safe 3

Setting it up is easy. Download and install Trezor’s software, crack open the packaging on the device itself, and connect it to your computer via a USB-C cable. The…

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Botched Bitcoin blackmail, iSpoof, and Meta’s billion dollar data bungle • Graham Cluley

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Smashing Security podcast #323: Botched Bitcoin blackmail, iSpoof, and Meta’s billion dollar data bungle

13 years jail for spoofing scammer, a rogue IT security expert’s Bitcoin blackmail goes wrong, and Facebook’s eyewatering GDPR fine may be only the beginning of its problems.

All this and much much more is discussed in the latest edition of the “Smashing Security” podcast by computer security veterans Graham Cluley and Carole Theriault, joined this week by the Imposter Syndrome Network podcast’s Zoë Rose.

Hosts:

Graham Cluley – @gcluley
Carole Theriault – @caroletheriault

Guest:

Zoë Rose – @RoseSecOps

Episode links:

Sponsored by:

  • Bitwarden – Password security you can trust. Bitwarden is an open source password manager trusted by millions of individuals, teams, and organizations worldwide for secure password storage and sharing.
  • Kolide – Kolide ensures that if your device isn’t secure it can’t access your cloud apps. It’s Zero Trust for Okta. Watch a demo today!
  • Centripetal – Centripetal’s CleanINTERNET defends your assets from cyber threats by leveraging dynamic threat intelligence on a mass scale.

Support the show:

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Become a supporter via Patreon or Apple Podcasts for ad-free episodes and our early-release feed!

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Thanks:

Theme tune: “Vinyl Memories” by Mikael Manvelyan.
Assorted sound effects: AudioBlocks.

Found this article interesting? Follow Graham Cluley on Twitter or Mastodon to read more of the exclusive content we post.

Graham Cluley is a veteran of the anti-virus industry having worked for a number of security companies since the early 1990s when he wrote the first ever version of Dr Solomon’s Anti-Virus Toolkit for Windows. Now an independent security analyst, he regularly makes media appearances and is an international public speaker on the topic of computer security, hackers, and online privacy.
Follow him on Twitter at @gcluley, on Mastodon at @[email protected], or drop him an email.

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Records show Suffolk IT employess knew of bitcoin mining before ransomware attack

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A Newsday investigation into the cyber hack that crippled Suffolk County uncovered records that show county IT employess knew of bitcoin mining but didn’t stop it. NewsdayTV’s Sandra Peddie reports.

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