Re: IOTA: Snake oil insecurity with a centralized kill switch to shut off your money
I have always been advocating against IOTA, but the situation is much more worse than I have previously believed! I wish that this was handled much sooner..
See also: https://twitter.com/matthew_d_green/status/967073310604488707
Matthew Green is a professor of cryptography at Johns Hopkins University. His blog can be found here: https://blog.cryptographyengineering.com/. That was part of a tweetstorm. As reported by IEEE Spectrum, a professional publication from the Institute of Electrical and Electronics Engineers:
https://spectrum.ieee.org/tech-talk/computing/networks/cryptographers-urge-users-and-researchers-to-abandon-iota-after-leaked-emails
Also very important read: https://www.media.mit.edu/posts/iota-response/
I'm really sorry for everyone who lost money in this very sophisticated scam, and hope that we can prevent additional people from becoming victims of IOTA.
My flag is here (negative rating also left):
https://bitcointalk.org/index.php?action=trust;flag=1388
See also: https://twitter.com/matthew_d_green/status/967073310604488707
Quote
Matthew Green @matthew_d_green
4:26 PM · Feb 23, 2018
If you want a postcard summary of why you should avoid the Iota project with your brains and your money this conversation is it.
4:26 PM · Feb 23, 2018
If you want a postcard summary of why you should avoid the Iota project with your brains and your money this conversation is it.
Matthew Green is a professor of cryptography at Johns Hopkins University. His blog can be found here: https://blog.cryptographyengineering.com/. That was part of a tweetstorm. As reported by IEEE Spectrum, a professional publication from the Institute of Electrical and Electronics Engineers:
https://spectrum.ieee.org/tech-talk/computing/networks/cryptographers-urge-users-and-researchers-to-abandon-iota-after-leaked-emails
Quote
Cryptographers Urge People to Abandon IOTA After Leaked Emails
A dump of private emails pits developers of the cryptocurrency against external security researchers
By Morgen Peck
27 Feb 2018 | 17:00 GMT
This past weekend, multiple prominent security researchers and academic cryptographers took to Twitter to paint a big black mark on the cryptocurrency project, IOTA. The posts implore investors not to hold the currency and researchers not to collaborate on enhancing the security of the system.
An outcry was triggered shortly after a chain of private emails sent among the IOTA team and a group of external security researchers was made public, exposing the developers response to the disclosure of a critical flaw in one of their cryptographic building blocks. The correspondence, which ended with vague threats of legal action by IOTA founder, Sergey Ivancheglo, against a member of the Boston University security group, has prompted many academic researchers to denounce the entire project.
...
However, there are many in the community who argue that the system, which today relies on the activities of a central operator called a coordinator, is not as decentralized as advertised. Those who adhere to this line of thinkingpeople like Rick Dudley, a blockchain architecture advisor and consultant in New York Citynote that the team behind IOTA has made it especially difficult for outside researchers to evaluate the technology.
A dump of private emails pits developers of the cryptocurrency against external security researchers
By Morgen Peck
27 Feb 2018 | 17:00 GMT
This past weekend, multiple prominent security researchers and academic cryptographers took to Twitter to paint a big black mark on the cryptocurrency project, IOTA. The posts implore investors not to hold the currency and researchers not to collaborate on enhancing the security of the system.
An outcry was triggered shortly after a chain of private emails sent among the IOTA team and a group of external security researchers was made public, exposing the developers response to the disclosure of a critical flaw in one of their cryptographic building blocks. The correspondence, which ended with vague threats of legal action by IOTA founder, Sergey Ivancheglo, against a member of the Boston University security group, has prompted many academic researchers to denounce the entire project.
...
However, there are many in the community who argue that the system, which today relies on the activities of a central operator called a coordinator, is not as decentralized as advertised. Those who adhere to this line of thinkingpeople like Rick Dudley, a blockchain architecture advisor and consultant in New York Citynote that the team behind IOTA has made it especially difficult for outside researchers to evaluate the technology.
Also very important read: https://www.media.mit.edu/posts/iota-response/
I'm really sorry for everyone who lost money in this very sophisticated scam, and hope that we can prevent additional people from becoming victims of IOTA.
My flag is here (negative rating also left):
https://bitcointalk.org/index.php?action=trust;flag=1388