Unciphered, a Seattle-based startup, claims to have cracked the seemingly unbreakable encryption of IronKey S200, a decade-old USB thumb drive. By exploiting an undisclosed vulnerability in the device, the company says it can bypass the drive’s feature that erases its contents after 10 incorrect password attempts. The breakthrough came within a day of receiving a test device, suggesting that the firm’s hacking technique, powered by high-performance computing, could have far-reaching implications.

The startup’s focus is not just technological; it’s after a specific IronKey that holds 7,002 bitcoins, valued at roughly $235 million, stored in a Swiss bank vault. The device belongs to Stefan Thomas, a Swiss crypto entrepreneur, who has forgotten the password and has only two password attempts left before losing access to his fortune. Unciphered believes its hacking capabilities could unlock Thomas’ crypto vault and is preparing to reach out to him to offer its services. The only problem: Thomas doesn’t seem to want their help. Wired: Earlier this month, not long after performing their USB-decrypting demonstration for me, Unciphered reached out to Thomas through a mutual associate who could vouch for the company’s new IronKey-unlocking abilities and offer assistance. The call didn’t even get as far as discussing Unciphered’s commission or fee before Thomas politely declined. Thomas had already made a “handshake deal” with two other cracking teams a year earlier, he explained. In an effort to prevent the two teams from competing, he had offered each a portion of the proceeds if either one could unlock the drive. And he remains committed, even a year later, to giving those teams more time to work on the problem before he brings in anyone else — even though neither of the teams has shown any sign of pulling off the decryption trick that Unciphered has already accomplished.

That has left Unciphered in a strange situation: It holds what is potentially one of the most valuable lockpicking tools in the cryptocurrency world, but with no lock to pick. “We cracked the IronKey,” says Nick Fedoroff, Unciphered’s director of operations. “Now we have to crack Stefan. This is turning out to be the hardest part.” In an email to WIRED, Thomas confirmed that he had turned down Unciphered’s offer to unlock his encrypted fortune. “I have already been working with a different set of experts on the recovery so I’m no longer free to negotiate with someone new,” Thomas wrote. “It’s possible that the current team could decide to subcontract Unciphered if they feel that’s the best option. We’ll have to wait and see.” In past interviews, Thomas has said that his 7,002 bitcoins were left over from a payment he received for making a video titled “What is Bitcoin?” that published on YouTube in early 2011, when a bitcoin was worth less than a dollar. Later that year, he told WIRED that he’d inadvertently erased two backup copies of the wallet that held those thousands of coins, and then lost the piece of paper with the password to decrypt the third copy, stored on the IronKey. By then, his lost coins were worth close to $140,000.

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Source: Slashdot – They Cracked the Code To a Locked USB Drive Worth 5 Million in Bitcoin. Then It Got Weird.

Meta Platforms was sued by California and a group of more than two dozen states over claims that its social-media platforms Instagram and Facebook exploit youths for profit and feed them harmful content. From a report: The suit, filed in federal court in California, adds to growing scrutiny of social media giants over how they serve their youngest users.

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Source: Slashdot – Meta Sued by California, States Over Harmful Youth Marketing

China is increasing its lead over the US in AI patent filings, underscoring the Asian nation’s determination to shape and influence a technology that could have broad implications for the world’s richest economies. From a report: Chinese institutions applied for 29,853 AI-related patents in 2022, climbing from 29,000 the year prior, according to data that the World Intellectual Property Organization provided to Bloomberg News. That’s almost 80% more than US filings, which shrank 5.5%. Overall, China accounted for more than 40% of global AI applications over the past year, the data from the United Nations-affiliated agency showed. Japan and South Korea rounded out the 2022 leaders, with a combined 16,700 applications. The numbers illustrate how Beijing has pushed Chinese companies and agencies to gain an edge in areas such as chipmaking, space exploration and military sciences. More recently, President Xi Jinping has ordered the nation to accelerate fundamental research in response to US efforts to curtail its access to advanced technologies. That’s triggered a flood of investment by Chinese companies in AI and quantum computing.

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Source: Slashdot – China Widens Lead Over US in AI Patents After Beijing Tech Drive

Demand for climate-warming fuels like coal, oil and natural gas will likely peak before 2030, evidence of the accelerating global shift to energy that doesn’t emit greenhouse gasses, according to the International Energy Agency (IEA)’s World Energy Outlook. From a report: “The transition to clean energy is happening worldwide and it’s unstoppable. It’s not a question of ‘if’, it’s just a matter of ‘how soon’ — and the sooner the better for all of us,” said Fatih Birol, IEA executive director, in a statement. The agency represents countries that make up more than 80% of global energy consumption. The annual IEA report estimates that in 2030 there will be 10 times as many electric vehicles on the road worldwide and 50% of the cars sold in the United States will be electric. The agency says solar panels installed across the globe will generate more electricity at the end of the decade than the U.S. power system produces now. And the report projects that renewable energy will supply 50% of the world’s electricity needs, up from about 30% now.

But the report warns the pace of the transition will have to quicken considerably in order to limit global warming to 1.5 degrees Celsius, or 2.7 degrees Fahrenheit, and avoid some of the worst case scenarios in a changing climate. The IEA’s outlook lays out a strategy for meeting that goal that includes tripling renewable energy, doubling energy efficiency measures and slashing methane emissions from fossil fuel operations by 75% by 2030. Methane has more than 25 times the climate-warming potential of carbon dioxide, according to the Environmental Protection Agency. Climate and anti-fossil fuel groups say the IEA’s methane strategy should be even more aggressive.

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Source: Slashdot – Global Shift To Clean Energy Means Fossil Fuel Demand Will Peak Soon, IEA says

UK ministers are poised to reject Big Tech calls for greater scope to appeal against decisions made by the country’s antitrust regulator under new digital markets rules, Bloomberg News reported Tuesday, citing people familiar with the matter. From the report: The government plans to use the new Digital Markets Unit within the regulator, the Competition and Market Authority, to apply extra scrutiny to companies such as Alphabet and Meta Platforms, and to curb their dominance. The division is expected to have powers to fine internet firms in a bid to protect consumers, and it may allow smaller companies to access the data held by bigger ones. It could lead to tech companies compensating media outlets for carrying news stories.

Under existing plans, challenges to DMU rulings would only cover whether the CMA followed the correct procedure when making its decisions. But tech companies have lobbied to be able to appeal decisions on a “full merits” basis that would include examining the regulator’s assumptions and underlying evidence also. Ministers, however, are set to rebuff the demands of the tech companies, because they are concerned the proposals would make it harder for smaller companies to challenge their bigger rivals, according to the people, who asked not to be named because a final decision hasn’t yet been made.

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Source: Slashdot – UK Set To Reject Big Tech Call for Antitrust Appeals Route