TREZOR security firmware update 1.5.2

The original Bitcoin hardware wallet TREZOR releases security firmware update 1.5.2
17 August 2017   3475

Today, August 17th, SatoshiLabs releases a security update to TREZOR, a new firmware version — 1.5.2 — was pushed out to all users. 

This update fixes a security issue which affects all devices with firmware versions lower than 1.5.2.
 

TREZOR team

The TREZOR team is not releasing a detailed description of the issue to give enough time for users to update and for other hardware wallets based on TREZOR to distribute an update. Thus, currently, this update will be marked as optional. However, a detailed report is to be published in the coming days and once it is released, the update will become mandatory in TREZOR Wallet.

Although specific technical details are unavailable, SatoshiLabs has sought to reassure users that only physical theft would present an opportunity for malicious actors to potentially compromise devices: “It is important to note that this is not a remote execution attack,” the email to customers explains.

To exploit this issue, an attacker would need physical access to a disassembled TREZOR device with uncovered electronics. It is impossible to do this without destroying the plastic case.
 

TREZOR team

It continues that “coins are safe” provided devices are kept within reach of their owners.

There is no long-term access needed to copy all your secret information from Trezor using this hack; it can be done just in 15 seconds.
 

TREZOR team

For more information, please, get acquainted with the full TRESOR's report.

Experts Ask China Don't be in Rush For Own Crypto

Ex deputy chairman of the Bank of China said the CB should take part in the development of international regulation of crypto assets firstly
27 January 2020   123

China should strengthen cooperation with other countries to regulate the cryptocurrency industry, and not accelerate the development of its own digital currency, experts say. It is reported by the South China Morning Post.

So, the former deputy chairman of the People’s Bank of China, Zhu Min, noted that the central bank, which is developing a digital yuan in many ways as Facebook’s Libra response, should first of all take part in the development of international regulation of such assets.

Ba Shusong, chief China economist for the Hong Kong stock exchange, also believes that monitoring digital currencies requires a system that is controlled from different angles, as they have the potential to change the global financial system.

You would need to first improve the regulatory framework for [financial] technology. There is a need for global cooperation for an alternative regulatory framework.

 

Ba Shusong

Chief China economist for the Hong Kong stock exchange

 

Many fear that the popularity of Libra could strengthen the dominant role of the US dollar. At the same time, Deutsche Bank analysts believe that the digital yuan will undermine the primacy of the dollar in the global financial market.

Hiromi Yamaoka, the ex-head of the Bank of Japan supervisor of payment and settlement systems, also emphasized that the upcoming launch of Libra has caused competition among central banks seeking to make their currencies and services more attractive.

Something like Libra would make transactions costs much cheaper. Major central banks need to appeal that they, too, are making efforts to make settlement more efficient with better use of digital technology.

 

Hiromi Yamaoka

Former head of the Bank of Japan’s (BOJ) division overseeing payment and settlement systems