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FTX stored private keys to crypto assets in plaintext, without access controls

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Re: FTX stored private keys to crypto assets in plaintext, without access controls

#221

It is fantastic that a company operating with such horrific practices is dead. While we are at it, when can we fix similar issues below with mainstream financial systems that millions of people are still using? - Social security numbers are used as a secret for identification, despite being in plaintext and having so low entropy as to be guessable, and originally issued on a card literally saying "Not for Identificat…

> Every bank check lists the bank account number, which serves as the only information needed for a party to issue a request to withdraw money from that account.

Just here point out that the issue is that it's enough to have the bank account number to issue a request to withdraw money from that account, and not that the bank accounts numbers are listed.

Re: FTX stored private keys to crypto assets in plaintext, without access controls

#222
post #94

Earlier quoted context omitted.

Each one of these systems has a better replacement, but not all of the industry has moved to it. The largest related issue I believe is that the use of “knowledge databases” by credit bureaus (and all of the companies and governments that trust credit bureaus). Each of these has been solved, but until the last system using the inferior authentication is upgraded, they all remain weak points. I have argued that the US…

> Estonia’s “digital residency card” The EU is actually federating systems like that under an umbrella of regulations and technical services called eIDAS [1]. I haven't been able to use it in too many places yet, but if it takes off (which is a pretty load-bearing "if", to be clear), I think it could be an important step towards making these systems usable internationally. Especially the US, which seems to prefer to…

> assuming that people would be willing to trust their local/state government to that extent

We have too many religious people who fear government ID cards are the “mark of the beast”. We still can’t get all states to migrate to RealID, which includes a digital verification method within the ID (something stronger than a barcode).

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