Charles Hoskinson, co-founder of Cardano (ADA), bets a million dollars on the future security feature of Lace’s new portfolio

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The new Lace multi-chain encryption wallet is able to easily connect everything in the Web2 Web3 to one interface.

Hoskinson describes the current hack of LastPass password manager as “amazing” in a new YouTube video.

The company said in an update last week that an unauthorized person obtained access to a third-party cloud storage provider employed by LastPass and uploaded backups of their production data.

According to Kareem Topa, CEO of LastPass, the hacker acquired “basic customer account information and relevant metadata including company names, end-user names, billing addresses, email addresses, phone numbers and IP addresses from which customers were accessing LastPass service.”

Hoskinson describes it as a “failure” by LastPass and believes what happened is “very dirty.”

Unfortunately, according to Cardano’s co-founder, the Pretty Good Privacy (PGP) encryption tool is not a standard.

Hoskinson said,

I’ll put some ADA in an encrypted paper wallet using PGP and broadcast it publicly on my Twitter so you guys can try to break it when… The lace wallet begins to enable PGP encryption for paper wallets. I have great confidence in these standards. Although key passwords may be too long, they represent an old standard and should no longer be used.


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