cross-posted from: https://infosec.pub/post/16334087
Charles and company made a PGP-encrypted paper wallet. He is calling it the most secure paper wallet in the entire crypto space.
To put his money where his mouth is, anyone who hacks it can keep keep the cash ($1 million dollars worth of USDM) if you can hack it.
Good luck everyone!
I doubt it will get done. Perhaps in a post-quantum world someday. But not by the end of the year and I think he knows that.
That would involve a hack to PGP (from what I understand… please correct me if I’m wrong) since that is what he is using to encrypt both his private and public keys.
I am not a fan of asset-backed stablecoins in the crypto space. I think the algo ones that actually have some rigor behind them (DJED and SigmaUSD) are pretty cool, but I could see people being scared off ever since the Terra Luna thing (which did NOT have any rigor behind it and actually had a back door).