Edit: it is sad that my comment that is relevant and contains nothing but facts is downvoted... What has HN become? Say what you want about Bitcoin, but it does solve credit card theft for good. If I could use my Bitcoin hardware wallet¹ to pay Sonic, I wouldn't be affected by this security breach. ¹ No Bitcoin theft has ever occurred on a hardware wallet thanks to their tamper proof isolation of private keys.
Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
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Re: Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
#42Edit: it is sad that my comment that is relevant and contains nothing but facts is downvoted... What has HN become? Say what you want about Bitcoin, but it does solve credit card theft for good. If I could use my Bitcoin hardware wallet¹ to pay Sonic, I wouldn't be affected by this security breach. ¹ No Bitcoin theft has ever occurred on a hardware wallet thanks to their tamper proof isolation of private keys.
Yeah, if I keep my credit card in a safe and never use it, no fraud is going to happen. If I use it to pay for things multiple times a day, this happens. It's not like if there hasn't been bitcoins stolen in the past.
This also roughly applies to chip-and-pin systems, where the chip holds the private key. They're both like cash in a wallet -- giving someone cash from your wallet doesn't give them the ability to magically disappear more money while your wallet's sitting beside your bed later that night.
Whereas with a (non-chip) credit card, once another party has your information just once, a theft can happen anytime from then until years later when the CC expires.
Re: Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
#43Earlier quoted context omitted.
When has 2fa stop a bullet or knife? Very little cash is stolen by pick-pockets or home burglars. People open their wallets because they fear pain, it doesn't matter how many locks are on the wallet. relevant xkcd: https://xkcd.com/538/
Timelock stops bullets and knives.
Re: Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
#44Edit: it is sad that my comment that is relevant and contains nothing but facts is downvoted... What has HN become? Say what you want about Bitcoin, but it does solve credit card theft for good. If I could use my Bitcoin hardware wallet¹ to pay Sonic, I wouldn't be affected by this security breach. ¹ No Bitcoin theft has ever occurred on a hardware wallet thanks to their tamper proof isolation of private keys.
Re: Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
#45A huge advantage of Apply Pay is that you get the security of a PIN without the hassle of entering a PIN -- or the risk of it being stolen during PIN entry. You just authenticate with your fingerprint or, soon, your face. (Please no comments speculating that this is less secure than a fingerprint. It's premature to say and unless you know something Apple doesn't, you're probably wrong.)
Another less understood advantage is that Apple Pay takes the strongest approach to tokenization, which makes it effectively immune to merchant hardware compromises. Even chip cards rely on the card readers at points of sale to handle tokenization, so a hacked reader could in theory leak PANs. On top of that, lots of merchants/processors don't even bother with tokenization, so it's a crap shoot with every merchant.
Apple Pay tokenizes when you enroll your card, so the PAN (primary account number) never passes through any merchant systems anywhere ever. This means the tokenized numbers that hackers could steal from merchants are useless outside of two-factor-secured Apple Pay.
Re: Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
#46Edit: it is sad that my comment that is relevant and contains nothing but facts is downvoted... What has HN become? Say what you want about Bitcoin, but it does solve credit card theft for good. If I could use my Bitcoin hardware wallet¹ to pay Sonic, I wouldn't be affected by this security breach. ¹ No Bitcoin theft has ever occurred on a hardware wallet thanks to their tamper proof isolation of private keys.
Even forgetting the whole, how do I pay with credit issue. Your post is not terribly insightful, and the facts are thin. It removes particular problems with credit cards and replaces them with others. It doesn't solve theft where you end up (through trickery or otherwise) effectively voluntarily sending your money to a thief, because Bitcoin does not give you any way to reverse charges. It just changes the small details of theft attacks on consumer spending, it doesn't fix a god damn thing.
How does bitcoin solve credit? Last I checked, bitcoin isn't a credit platform.. So even if you want to use bitcoin... you still need a credit card.
In the US, I am basically not fully liable for any credit payment I make for 90 days. I can dispute any charge for that time and it is on the onus of the bank to do something about it or not get their money. The incentives in this case are very pro-consumer.
Re: Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
#47Earlier quoted context omitted.
If someone else uses my cc, I’m not paying it. If someone steals my bitcoins, they’re fucking GONE.
Wrong. In the US you may be liable for the full amount stolen if you fail to notice the theft in 30 days. Even if you report the theft promptly, the law allows your issuer to make you liable for the first $50. Also you completely ignored my point about hardware wallets making theft a non-problem.
2) No credit card I use today (and I use lots for rewards) has any term less than 90 days for dispute. Also all 3 major credit card companies offer $0 liability as part of their terms.
Re: Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
#48I'm surprised Krebs end up plugging chip-and-PIN instead of the current leapfrog technology exemplified by Apple Pay. I feel there is not enough awareness of just how much more secure this is. A huge advantage of Apply Pay is that you get the security of a PIN without the hassle of entering a PIN -- or the risk of it being stolen during PIN entry. You just authenticate with your fingerprint or, soon, your face. (Plea…
You're right except when your bank is a bunch of consumer hostile idiots that still make you enter the PIN.
Re: Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
#49Earlier quoted context omitted.
Sure, so don’t ignore your finances for a month.
You will still be liable for $50. And you again ignored my point about hardware wallets making theft a non-problem.
Re: Breach at Sonic Drive-In May Have Impacted Millions of Credit, Debit Cards
#50I'm surprised Krebs end up plugging chip-and-PIN instead of the current leapfrog technology exemplified by Apple Pay. I feel there is not enough awareness of just how much more secure this is. A huge advantage of Apply Pay is that you get the security of a PIN without the hassle of entering a PIN -- or the risk of it being stolen during PIN entry. You just authenticate with your fingerprint or, soon, your face. (Plea…
> without the hassle of entering a PIN You're right except when your bank is a bunch of consumer hostile idiots that still make you enter the PIN.