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Author Topic: Secure bitcoin private key storage for your pocket  (Read 1859 times)
matonis
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December 13, 2011, 05:27:36 AM
 #1

http://www.kickstarter.com/projects/crypteks/crypteks-usbtm-encrypted-and-lockable-usb-solution
http://www.crypteks.com

-multiple private keys (no limit)
-good for off-network bitcoin transactions too

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CIYAM
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December 13, 2011, 05:40:42 AM
 #2

The idea sounds great, however, I read this on their Kickstarter page:

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Besides offering all of our Kickstarter backers access to the Crypteks™ password management system; we will be offering a "ring-change" service for anyone that may have accidentally forgotten their mechanical pass-code.

which seems to me like they have left a "back-door".  Huh


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matonis
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December 13, 2011, 05:58:29 AM
 #3

The idea sounds great, however, I read this on their Kickstarter page:

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Besides offering all of our Kickstarter backers access to the Crypteks™ password management system; we will be offering a "ring-change" service for anyone that may have accidentally forgotten their mechanical pass-code.


Ian, my understanding is that the "ring-change" service is for the outer shell, not the encryption password for the USB data. Futhermore, the use of the password management system is optional.

From the Crypteks page:
"No way! Thankfully NO ONE can reset your encryption password! Deciphering 256-bit AES encryption is a monumental task! (That's why we love it!). We recommend using and updating your personal Crypteks™ password management system account anytime you get a chance to change your password! We will be encrypting the entire engine and even we will not be able to view your stored information!"    

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December 13, 2011, 06:16:04 AM
 #4

The lock is silly.  It doesn't do anything to prevent the device from being stolen.  Once it's stolen, it's not hard to open the thing.  I'd bet I could expose the USB connector in two minutes or less given any of a bandsaw, mill, dremel, angle grinder...  Give me five minutes if all I have is a hacksaw.  It's aluminum.

As for the crypto...  I worry about anything that has a "Forgot password" field.  Actually, I worry whenever someone tries to tell me they've made crypto better in any way; it's always snake oil.  Why would I ever put my trust in this thing instead of TrueCrypt or GPG?

Sorry to be a downer, but I'm tired of seeing bad security dressed up in hype.

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ovidiusoft
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December 13, 2011, 08:43:51 AM
 #5

Well, the outer lock is no security, and I trust the open source encryption software more than their hardware AES who could save all keys in plaintext, for all I know. But the thing looks so cool, I want one! Black, keychain latch, pronto! Smiley
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December 13, 2011, 08:45:05 AM
 #6

Looks cool. Lock has at least one use case I can think of but do not want to state here.

Wonder if you could swallow the thing in a hurry? .... nice and round for the exit at least.

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December 14, 2011, 03:41:33 AM
 #7

It does look cool, but not $160 of cool.  But that's just me.

1.1" x 3.1" ... I've swallowed bigger, but I'm sure you could find something smaller to bury your stash.  Smiley

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December 14, 2011, 01:10:45 PM
 #8

Why is it safer than using truecrypt on a regular USB key?  Da Vinci would never have used a cryptex if he could have used truecrypt.
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