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Bitcoin – 15 years and counting: Key facts to know about the first cryptocurrency in the world | Mint – Mint

Earlier this month, Bitcoin completed 15 years of its existence. Although the maiden crypto token trades above $41,500 per unit in the international crypto exchanges, its glory was conspicuously missing in the early days of inception.

Did you know that the first-ever transaction carried out in bitcoins took place on May 22, 2010 when 10,000 bitcoins were paid to buy two Papa Johns pizzas? Did you also know that it took three years and ten months for bitcoin to touch $1,000 for the first time?

Cut to Jan 10, 2024, US markets regulator Securities and Exchange Commission (SEC) gave a green signal to spot bitcoin ETF, garnering an investment to the tune of $4.6 billion within a couple of days.

Bitcoins creator Satoshi Nakamoto (pseudonym used by the inventor) released a whitepaper titled Bitcoin: A Peer-to-Peer Electronic Cash System on October 31, 2008 to a cryptography mailing list.

In fact, Satoshi took two years writing the code before he completed the last task i.e., the white paper.

He even mentioned that he was working on bitcoin for two years by the time the white paper was finally released, writing: I actually did this kind of backwards. I had to write all the code before I could convince myself that I could solve every problem, then I wrote the paper."

He implemented the bitcoin software as open-source code and released it in January 2009. Nakamotos identity remains unknown.

The total number of bitcoins is limited to 21 million. And by design, the number of bitcoins minted per block is reduced by 50 percent about every four years. The creator designed it to create its scarcity to increase its demand and price.

Even before bitcoin came into being, several digital cash technologies were released with David Chaums e-cash being the first in 1980s. In fact, the very idea that solutions to computational puzzles could have some value was first proposed by cryptographers Cynthia Dwork and Moni Naor in 1992.

Another attempt was made in 2004 when Hal Finney developed the first currency based on reusable proof-of-work. Notably, these attempts were not successful.

It is intriguing to know that the terms blockchain and cryptocurrency were never used in the bitcoin white paper. Instead, Satoshi calls the blockchain a timestamp server.

Surprisingly, Satoshi named bitcoin quite late in the process and it is believed that he wanted to refer to it as electronic cash or netcoin.

In fact, in early emails Satoshi sent to other scientists for review, bitcoin was referred to as electronic cash a term that has been in use since the 1990s.

Although Satoshi never revealed his identity, there are speculations that suggest that Satoshi is, in fact, first bitcoin user Hal Finney or mathematician John Nash.

There are unconfirmed estimates which say that Nakamoto had already mined nearly one million bitcoins before s/he disappeared a year later in 2010 but only after handing over the network alert key and control of the code repository to Gavin Andresen.

Gavin later became lead developer at the Bitcoin Foundation, an organization founded in September 2012 to promote bitcoin.

Some of the industry representatives MintGenie spoke to believe that bitcoin is set to play a big role in the finance industry in the near future. Thanks to the approval to spot bitcoin ETF by the US markets regulator and the follow-up inflow of billions of dollars, there are expectations that bitcoin would soon reclaim its life time high of $67,566.83 that it touched on Nov 8, 2021.

Shivam Thakral, CEO of BuyUcoin, says, Bitcoins future relevance depends upon its ability to face challenging circumstances, regulatory acceptance and adjusting to the changing environment will determine its continued significance. Despite competition and volatility, its well-established brand, scarcity, and technical potential indicate that it will probably continue to play a big role in the finance industry going forward."

ALSO READ: Bitcoin ETF approval: Indian investors too can participate - here's how

As Bitcoin completed 15 years this year, it has shown remarkable resilience in its journey as an asset class, from the fringes of crypto-punk communities to being touted as a digital safe-haven by the worlds largest asset manager, Blackrock. The journey has been volatile with shadow bans, regulatory scrutiny, and mining disruptions; but the network continues to chug along with almost no downtime," says Parth Chaturvedi, Investments Lead, CoinSwitch Ventures.

The algorithmically hardcoded supply schedule has worked like clockwork and with an upcoming halving of supply, we can expect the historical price cycle to repeat itself. The spot ETF approvals might have been a sell the news event in the short term, but with over $10 billion in volume flow in the first week of trading, BTC has cemented its place in risk-adjusted diversified portfolios," he adds.

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Bitcoin - 15 years and counting: Key facts to know about the first cryptocurrency in the world | Mint - Mint

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Satoshi Bitcoin Code Revived by Taproot; Surging Curiosity in Injective and InQubeta – NewsBTC

The beginner cryptocurrency world continues to surprise and intrigue enthusiasts. In the latest twist, Taproot Wizards aims to breathe new life into Satoshi Nakamotos original Bitcoin code. Meanwhile, the spotlight shifts to Injective (INJ) and InQubeta (QUBE), creating a buzz of excitement and curiosity among top altcoins enthusiasts. Join us as we take a dive into these developments.

The Taproot Wizards, known for their prowess in Bitcoin inscriptions, have set their sights on resurrecting an old idea embedded in Bitcoins early days. The focal point of this revival is the reincarnation of an opcode, OP_CAT, once a crucial part of Bitcoins original scripting system. Satoshi Nakamoto had deactivated OP_CAT in 2010 due to concerns about potential vulnerabilities.

OP_CAT, an abbreviation for operation code, acted like a step in a crypto recipe, instructing the Bitcoin network on handling data. This opcode, if reinstated, could unlock functionalities like decentralized exchanges and asset bridging. Unlike the comprehensive smart contracting languages of platforms like Ethereum, OP_CAT introduces a level of programmability to Bitcoin while maintaining its intentional simplicity and security.

Re-enabling OP_CAT is not a Herculean task, requiring only around ten lines of code modification in the Bitcoin Core code. This proposed change presents an opportunity for enhanced functionalities without necessitating a hard fork a testament to the adaptability of Bitcoin.

As the buzz around Taproots Bitcoin revival echoes after the SEC decision on Bitcoin ETFs, the crypto communitys attention extends to two notable projects Injective (INJ) and InQubeta (QUBE). Injective stands out for its performance. Meanwhile, InQubeta is positioned as the best AI investment for 2024.

As the tale of Satoshis code unfolds, Injective emerges as a noteworthy protagonist in the crypto narrative. Positioned as a Layer 1 blockchain, Injective offers developers a platform to craft future-ready decentralized applications (dApps). The native token, INJ, adds to Injectives allure.

This crypto ICO recently seized the spotlight with its announcement of the End of the Year Treasure Hunt. This engaging competition invites participants to unearth hidden words, providing a unique opportunity to interact with Injective-related dApps. The top three participants will share a prize pool, adding an element of excitement to the crypto community.

While Injective sparks curiosity, InQubeta (QUBE) takes center stage as the beacon for AI-driven investments and the best crypto for beginners in 2024. Designed to support startups leveraging artificial intelligence, InQubeta addresses the funding challenges that often hinder innovative projects. With its native cryptocurrency, QUBE, at the forefront, InQubeta employs a multi-faceted model that includes deflationary characteristics, maintaining token demand despite inflation.

InQubetas QUBE token, operating on the ERC-20 standard, is not just a medium of exchange within the networkits a symbol of a decentralized autonomous organization (DAO) model. With 1.5 billion QUBE tokens in existence, only 65% are allocated for public sale, ensuring scarcity and demand. Any excess QUBE ERC20 coins are burned to maintain scarcity, creating a unique deflationary mechanism.

InQubetas DAO model empowers the community, giving QUBE token holders special voting rights. The decision-making process is transparent, with proposals undergoing a review and voting process. Token holders actively participate, preventing unnecessary changes and fostering a community-driven ecosystem.

As you navigate the rekindling of Satoshis code, explore Injectives treasure hunt, and uncover the potential of InQubeta, its clear that the best cryptocurrency landscape is alive with innovation.

Dont miss the chance to be part of the InQubeta (QUBE) revolution. Visit their website to dive deeper into this groundbreaking project, and join the vibrant community on Twitter for the latest updates and engaging discussions. The future of AI investments awaits at InQubeta!

Visit InQubeta Presale

Join The InQubeta Communities

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Satoshi Bitcoin Code Revived by Taproot; Surging Curiosity in Injective and InQubeta - NewsBTC

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Ethereum Classic, Blur, and Rebel Satoshi: experts share their price predictions for early 2024 – CoinJournal

According to crypto market experts, the recent Bull Run suggests that investors in top crypto coins may find success in a few projects, such as Rebel Satoshi, as well as certain top DeFi projects, such as Blur and Ethereum Classic.

Lets look at what sets $RBLZ apart from the crowd of altcoins, like BLUR, ETC, as one of the best cryptos to buy in early 2024.

As of December 18, OKXs NFT platform outperformed the 24-hour trading volume of Blur, a well-known NFT marketplace. However, two weeks later, the Blur marketplace has recovered, accruing more volume to claim second spot among the NFT marketplaces in terms of volume.

Following these developments, the value of BLUR has risen. The value of Blur on December 18 was $0.4324. Since then, the BLUR token price has risen to $0.6664 on January 19, indicating a 54.12% increase.Experts are pleased with these developments and have predicted that the price will rise further to $2.3500 by the end of the first quarter.

On the contrary, in their price forecasts, some other BLUR analysts have cited price volatility as the reason why BLUR will decline in value to $0.1600 by the end of the first quarter.

Recent news reports from the Ethereum Classic ecosystem claim that the Ethereum Proof of Works main development team was dissolved on December 19 to transition to community governance. This has translated to a proposal for a similar action for Ethereum Classic.

The value of ETC on December 19 was $19.71. In the two weeks since then, the DeFi coin price has risen to $24.75 on January 19, indicating a 25.57% increase in ETCs valuation.

Regarding the ETC price prediction, experts on Ethereum Classic have expressed satisfaction over these developments and have predicted that the value of ETC will see a further rise to $40.00by the end of March.

Conversely, some other analysts of Ethereum Classic have cited the lack of partnerships in the Ethereum Classic ecosystem as the reason why ETC could decline in value to $15.50 by the end of March.

Rebel Satoshihas distinguished itself as an interesting investment option among a sea of cryptocurrency meme currencies. This meme coin, inspired by Satoshi Nakamoto and Guy Fawkes, has piqued investors interest even in the pre-sale stage. Rebel Satoshis native token, $RBLZ, aims to usher in a new era of decentralization. Its goal is to create a community that allows underdogs to collectively oppose centralized systems.

Rebel Satoshisnative coin, $RBLZ, has set presale records as the Early Bird Round 1 and Rebels Round 2 sold out completely in 10 and 15 days, respectively. Additionally, in the just finished Citizens Round 3, $RBLZ traded for $0.020. Over 120 million $RBLZ tokens have been sold thus far, with the Monarchs Round 4 of the Rebel Satoshi presale currently underway, seeing $RBLZ valued at $0.022.

This pricing provides a 120% ROI for those who bought $RBLZ at the $0.010 Early Bird Round price. When $RBLZ reaches its listing price of $0.025 in February, it will reward early investors with a 150% ROI.

For the latest updates and more information, visit the officialRebel Satoshi Presale Website or contact Rebel Red viaTelegram.

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Ethereum Classic, Blur, and Rebel Satoshi: experts share their price predictions for early 2024 - CoinJournal

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What is end-to-end encryption? How does it secure information? | Explained – The Hindu

Information is wealth, and an important way to protect it is encryption. End-to-end (E2E) encryption in particular protects information in a way that has transformed human rights organisations, law-enforcement agencies, and technology companies outlook on their ability to access and use information about individuals to protect, prosecute or profit from them, as the case may be.

Fundamentally, encryption is the act of changing some consumable information into an unconsumable form based on some rules. There are different kinds of such rules.

For example, (with particular settings) the Data Encryption Standard (DES) encrypts the words ice cream to AdNgzrrtxcpeUzzAdN7dwA== with the key kite. If the key is, say, motorcycle, the encrypted text becomes 8nR+8aZxL89fAwru/+VyXw==.

The key is some data using which a computer can unlock (decrypt) some locked (encrypted) text, knowing the set of rules used to lock it.

Say I write down AdNgzrrtxcpeUzzAdN7dwA== on one piece of paper and kite on another piece of paper, crumple them both, and throw them at my friend across the room. Suddenly a man I didnt notice in the middle of the room leaps up to snatch the piece of paper saying AdNgzrrtxcpeUzzAdN7dwA== and runs away with it. Because this fellow doesnt know the key (kite), he wont know what the piece of paper says.

This is how encryption protects information, digitally.

E2E is encryption that refers to particular locations between which information moves.

Say you are chatting with your friend on a messaging app. When you send a message, it first goes to a server maintained by the company that built the app; based on its instructions, the server routes the message to your friend.

In this setup, two important forms of encryption are encryption-in-transit and E2E encryption.

Encryption-in-transit means before a message is relayed from the server to you (or vice versa), it is encrypted. This scheme is used to prevent an actor from being able to read the contents of the message by intercepting the relay. In E2E encryption, the message is encrypted both in transit and at rest i.e. when being relayed from your phone to the server (or vice versa) and when it is sitting inside the server. It is only decrypted when your friend receives the message.

There are several ways to encrypt information depending on the level of secrecy and protection required. If some information is to remain encrypted for 100 years, a computer must require more than 100 years to decrypt it without the key.

One broad distinction is between symmetric and asymmetric encryption.

In symmetric encryption, the key used to encrypt some information is also the key required to decrypt it. DES is a famous example of a symmetric encryption protocol.

In a stronger version of DES, called Triple DES, the key a user provides is split into three parts. Lets say they are mot, orcy, and cle. Then, the message ice cream is encrypted by the first part (mot); the result is decrypted by the second part (orcy); and its result is again encrypted by the third part (cle). The garbled text thus produced is then transmitted to the recipient along with the key.

Symmetric encryption is useful when the sender and the recipient are the same person, for example when you encrypt the hard drive of your computer. The Advanced Encryption Standard (AES), which you might have noticed when setting your WiFi password, is also a symmetric encryption algorithm.

In asymmetric encryption, if the message ice cream is encrypted using the key motorcycle, it can be decrypted using a different key that corresponds to motorcycle in a predetermined way.

For example, say you and your friend agree that if you use the key motorcycle to encrypt the message, your friend will use the key helmet to decrypt it, and if you use banana to encrypt, your friend will use pineapple to decrypt. You and your friend go to a party and find yourself standing far from each other, and you wish to send them a message. So you encrypt ice cream with banana as the key, and you shout out the encrypted text to your friend along with the word banana. Your friend now knows that they should decrypt the text using the key pineapple to reveal the underlying message.

In this situation, using asymmetric encryption, you have been able to reveal the encryption key without compromising your or your friends privacy.

The key you shouted out is called the public key; the corresponding key you agreed your friend would use is called the private key.

(Have a computer? Open the shell terminal called Command Prompt on Windows and Terminal on OSX and Linux type ssh-keygen, hit enter, and follow the next steps. You will soon have your own public and private keys.)

Asymmetric encryption will work as long as the private key and the correspondence between the public key and the private key are kept secret. In advanced implementations of asymmetric encryption, this correspondence is stored in the solution of a mathematical problem that even a computer would require a long time to solve.

It is useful when the sender and the recipient are different. The level of protection it confers is greater the longer the key is.

There are different symmetric and asymmetric schemes that encrypt messages in different ways, i.e. using different hash functions.

The hash function is responsible for encrypting a message. These functions are expected to have many properties. Here are three for example:

(i) The function should accept an input message and produce an encrypted version called the digest in a way that, given the digest, doesnt reveal what the message could be.

(ii) It should accept a message of any length and produce a digest of a fixed length, irrespective of how long or short the message is. This way, the length of the original message cant be deduced from the length of the digest.

(iii) It should produce unique digests for unique messages.

For example, the hash function the DES algorithm uses has many steps, at the heart of which is a table called an S-box: it converts a six-bit value into a four-bit value. (The combination of the first and last digits is provided in a particular row and the middle four digits are provided in a particular column, and the cell where these two meet specifies a unique four-digit bit.)

DES is a type of symmetric cipher called a block cipher, meaning it operates on fixed-length blocks of information at a time, in this case 64 bits, with 56-bit keys. (The bits refer to the message converted to binary.)

A hash function called the Feistel function begins by splitting a block into two parts. In each part, it selects 16 bits and appends them to the end, extending the 32-bit block to 48 bits. This is fed to a XOR logic gate as one input, the other being a 48-bit subkey thats derived from the key. The XOR gates output is then split into eight parts, each of which is remixed in a different S-box. The outputs of the eight S-boxes are finally arranged in a specified pattern.

The function repeats this process until the whole message has been encrypted.

DES was developed at IBM in the 1970s, and since then researchers have found ways to crack it. Nonetheless, its working provided an early illustration of the processes that could be used to obfuscate a message such that they would be easy to implement on computing hardware but hard enough to not be broken easily.

The messaging app WhatsApp uses the Curve25519 algorithm to create public keys for messages. Curve25519 uses the principles of elliptic-curve cryptography (ECC), which in turn is based on some concepts in algebraic geometry. ECCs advantage is that it can provide the same level of security as another asymmetric encryption algorithm but with a shorter key.

Messaging apps with E2E encryption promise that even their parent companies wont be able to read messages sent and received by its users. However, the informational content of the messages can still be accessed in other ways.

A common example is the man-in-the-middle (MITM) attack. This is related to the example earlier of an unnoticed man in the middle of the room jumping up to intercept your message to your friend. In that instance, the man didnt have the key and couldnt decrypt the message. In an MITM attack, this man is the attacker and he has been able to acquire the key to decrypt the message, either by hacking your device to obtain the encryption key as well as the correspondence between the encryption and decryption keys or by hacking your friends device to acquire the decryption keys.

MITM attacks can be prevented by using and comparing fingerprints. Each fingerprint is some data that uniquely identifies a key. Users can compare the fingerprints of their public keys in a separate channel (i.e. different from the one susceptible to an MITM attack) to make sure an attacker doesnt intercept a message, modify it, re-encrypt it with a different key and send it to the intended recipient.

Another issue with E2E encryption is that it could induce complacency in a user who believes an attacker cant access, say, an image theyre sending over a messaging app in any other way. Since the image may be stored on the senders device, an attacker can hack the device to obtain it.

Some potent malware can also snoop on your messages by infiltrating your device via other means an SMS, say and reading them before they are encrypted.

Finally, the company that installs E2E encryption on its products can install a backdoor or an exception that allows the company to surmount the encryption and access the messages. Such a thing may be required by law, such as companies being expected to retain and, in the event of litigation, share that information with lawyers.

Illegal use also abounds, of course, such as that exposed in the Edward Snowden affair in 2013. The whistleblower revealed, for example, that Skype had installed a backdoor on its application that allowed it to access and make copies of the contents of messages to share with the U.S. National Security Agency even though the messages were E2E-encrypted.

If the goal is to surveil a user, an actor can do so if they can access the messages metadata, i.e. data about the messages, such as when they were sent, to which user, how often at different times, from which location, etc., instead of the messages themselves.

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What is end-to-end encryption? How does it secure information? | Explained - The Hindu

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CryptoGuard: An asymmetric approach to the ransomware battle – SC Media

Ransomware is one of the most significant threats facing organizations today. Battling it is no easy task, particularly given that threat actors are continually refining their techniques and approaches. Recent shifts, for example, include tweaks to ransomware-as-a-service (RaaS) models; the adoption of new programming languages;evolutions in targeting and deployment; andincreasingly launching attacks after business hours and at weekendsto hinder detection and incident response efforts.

One of the more substantial developments is an increase in remote ransomware: leveraging an organizations domain architecture to encrypt data on managed domain-joined machines. All the malicious activity ingress, payload execution, and encryption occurs on an unmanaged machine, therefore bypassing modern security stacks, with the only indication of compromise being the transmission of documents to and from other machines. Our telemetry indicates that there has been a 62% year-on-year increase in intentional remote encryption attacks since 2022. AndMicrosofts 2023 Digital Defense Reportstates that around 60% of human-operated ransomware attacks involve remote encryption, with80% of all compromises originating from unmanaged devices, indicating a lack of active asset management. Ransomware families known to support remote encryption include Akira, ALPHV/BlackCat, BlackMatter, LockBit, and Royal, and its a technique thats been around for some time as far back as 2013, CryptoLocker was targeting network shares.

Unsurprisingly, the rise and continuing development of ransomware has led to a plethora of research aimed at detecting and preventing it with academics, security researchers, and vendors all proposing various solutions. Ransomware, as a form of malware, presents unique practical and intellectual challenges, and the range of solutions reflects this. Many such solutions target one or more of ransomwares distinct behavioral traits: enumerating filesystems, accessing and encrypting files, and generating ransom notes. Others are more generic, applying common anti-malware techniques to ransomware.

In this, the second issue of our new technical thought leadership series (the first, on memory scanning, is availablehere), well provide a brief overview of some of these techniques and their advantages and disadvantages, before taking an in-depth look at our own contribution to the field: CryptoGuard.

Before we start, one thing to note: a ransomware attack has multiple stages, and the majority of these will occur before the solutions we discuss in this article come into play. A well-defended enterprise will have multiple layers of protection which should stop attacks at various points, meaning that in many cases specific anti-ransomware solutions shouldnt be required. But when all else fails, and a determined adversary reaches the encryption stage, we need a technology to prevent irreparable damage. Other phases of an attack initial infection, persistence, lateral movement, and so on are reversible, but encryption is not.

Static techniques (i.e., those which can be conducted passively, without requiring execution of the malware) for ransomware detection are not markedly different from those used to detect any other kind of malware. Solutions in this vein include signature-matching, comparing strings; comparing file operations; examining behavioral traits; deep learning techniques; and examining PE headers.

While static methods have the advantage of being relatively rapid and low-cost, determined attackers can also evade them by modifying code until signature detections are broken. They are also less effective against new variants, packers, obfuscators, and in-memory threats, as well as remote ransomware.

Dynamic solutions, on the other hand, tend to be more computationally expensive, but offer greater coverage. Dynamic anti-ransomware solutions in this vein include the following:

Some security solutions will monitor for changes to file extensions, high-frequency read/write and renaming operations, or new files which have extensions associated with ransomware variants. On the other hand, some solutions leverage other interactions; the open-source projectRaccine, for example, is based on the premise that many ransomware variants delete shadow copies usingvssadmin. Raccine works by intercepting requests tovssadminand killing the process responsible.

Since ransomware targets files, it seems logical that numerous approaches should focus on filesystem interactions. However, many of them are reliant on analysis within a sandboxed environment; are predicated on anomalous patterns which threat actors may try to avoid generating; or can be resource-intensive due to the amount of monitoring involved (although it is possible to dynamically adapt the degree of monitoring) Some filesystem-based techniques may also not be effective when it comes to remote ransomware.

While solutions likeControlled Folder Access (CAF) in Windows Defenderlimit access to folders to specific applications, such an approach is primarily geared towards individual users. CAF helps protect against ransomware by restricting unauthorized access to designated folders, allowing only trusted applications to modify files within them. However, for business networks, this method may be less practical due to the ongoing need for meticulous management of folders and applications. Additionally, it does not address the risk of attacks seizing control of trusted apps, a prevalent tactic in ransomware attacks

Some security solutions will assess API calls invoked by a process, either by flagging suspicious and seldom-seen calls or by determining potentially malicious call sequences.

Most ransomware employs API calls, although some variants use evasive measures to disguise these (particularly for API calls which are known to be suspicious, such as CreateRemoteThread or VirtualAllocEx, commonly used in process injection; or API calls related to encryption). Monitoring API calls at the kernel level certainly seems to be a worthwhile approach, but such monitoring is resource-intensive, can generate false positives, and is challenging to implement at scale. Additionally, when it comes to remote ransomware, the process itself may not be on the host being attacked, which can frustrate this approach.

Many security products employ honeyfiles, decoy files, bait files, or canary files as an anti-ransomware solution inconspicuous files which are placed in a directory and which legitimate users are asked not to touch. A separate monitoring system, either at the user-level or the kernel-level, is triggered if those files are accessed or changed by any process, at which point an alert is generated.

Honeyfiles are lightweight, low-effort, and can provide an early warning that an attack may be in progress. However, they do come with some caveats. Defenders must ensure that any alert is received and acted upon quickly enough, as by design an attack will already be in progress when a honeyfile is triggered. They also have to be strategically placed deep enough within filesystems to ensure that normal, legitimate users and processes wont accidentally trip them, but not so deep that important documents are encrypted before theyre accessed.

A less common technique is to fingerprint certain malicious patterns in network (C2) traffic, CPU consumption, or CPU signals.

With regards to network traffic, its worth noting that in modern human-led ransomware attacks, threat actors tailor and compile the ransomware binary uniquely for each victim, a strategic move intended to impede detection and complicate the decryption process. This custom-built ransomware typically contains a victim-specific ransom note and is deployed in a fire-and-forget manner, omitting the need for direct communication back to the threat actor, as the encryption process is self-contained within the malware, leveraging a victim-specific embedded public key.

An emerging technology from Intel called TDT (Threat Detection Technology) offers the ability to detect ransomware at the hardware level.A review by SE Labsdemonstrates a remarkable effectiveness against a diverse array of encryption schemes. However, this is confined to specific Intel CPUs, excluding ARM and AMD architectures. This limitation stems from TDTs reliance on a machine learning model trained on CPU performance signals from specific ransomware families encryption profiles. The model, trained by Intel, is dependent on vendor support and does not work with remote encryption. A disadvantage of this technology is that some ransomware strains, such as LockBit and Akira, are deliberately configured to encrypt only a portion of each file. This accelerates the impact of the attack, affecting more files in less time. It also means that detection by Intel TDT occurs after a significant number of files have already been compromised.

Most modern endpoint protection solutions transmit data to the cloud for incident response and alert analysis. However, automatically piecing together the details of an active human-led ransomware attack from alert telemetry can take anywhere from a few minutes to several hours. This latency depends on the configured telemetry reporting frequency, the presence of other alert signals, and the clouds processing capacity to assemble and correlate specific events from multiple protected machines.

Following detection, an automated response can involve deploying a containment policy to managed devices, to isolate a specific user account suspected of compromise by the attacker. While this action aims to prevent an imminent or ongoing (remote) ransomware encryption attack originating from the identified account, it is important to note that the distribution of this policy also requires time (up to hours). Moreover, in scenarios where the attacker starts encryption without triggering prior alerts on managed machines (as noted above, 80% of attacks involve unmanaged machines) or opts to begin the encryption process from an alternate user account, the conditions do not always favour an effective cloud-driven dynamic containment strategy.But it can be helpful in some instances.

In general, dynamic anti-ransomware solutions commonly require some level of encryption or data manipulation to have taken place before detecting the attack. Consequently, a certain number of files will likely become encrypted, necessitating a backup and restore function to recover affected files.

To revert unencrypted file versions, some endpoint protection products leverage Volume Shadow Copies, a Windows feature that generates data snapshots at specific time points. These shadow copies capture file or volume states, even while theyre in use. Nevertheless, this method has its limitations: attackers commonly delete the shadow copies; they do not protect files on network mapped drives; and effective rollback relies on detecting and addressing the ransomware incident before the subsequent scheduled snapshot (which typically occurs every four hours). And, as noted previously,most attacks happen after office hours, which can complicate recovery attempts using this method.

Generally, many of these approaches focus on looking for badness: characterizing and identifying behavioral traits which are indicative of ransomware activity. While this seems like a rational decision, it does have a crucial weakness, in that threat actors have an incentive to disguise or obfuscate those traits and therefore evade detection. CryptoGuard, on the other hand, takes a different approach.

CryptoGuard formerly known as HitmanPro.Alert, and part of Intercept X since 2016 was first developed in 2013, and is intended to be a last layer of defence against both local and remote ransomware, when determined threat actors have evaded all other protections and are in a position to begin encryption. Its notable successes include blocking WannaCry, LockBit, and REvil ransomware. While we keep a very watchful eye on developments in the ransomware space, CryptoGuard hasnt changed substantially over the years, primarily because it hasnt needed to.

Unlike the majority of the approaches described above, CryptoGuard doesnt look for attackers, ransomware executables, or malicious behavioral patterns at all. Other security solutions, including Sophos products, do these things, of course its a fundamental part of a layered defence, which ideally prevents attackers from getting to the encryption stage but CryptoGuard itself employs a more asymmetric approach, for when those layers have been circumvented.

Rather than looking for badness, CryptoGuard focuses on the contents of files, by analyzing their patterns with a mathematical algorithm. Whenever a process opens a file for reading and writing, CryptoGuards minifilter driver which operates within the Windows operating system kernel continuously generates histograms of the read and written data. These histograms serve to understand the overall pattern and characteristics of the data. They undergo evaluation to determine their entropy and statistically analyze whether the read and written data is unencrypted, compressed, or encrypted. The built-in evaluators employ mathematical models to classify data. Since the analysis uses the same memory buffers provided by the operating system for the requesting process, it is very efficient as it does not cause additional disk input/output (I/O).

This capability provides asymmetric protection, even in scenarios where an unprotected remote machine on the network is attacking shared documents on a Sophos-protected file server, for example. As noted above, most human-led ransomware attacks aim to also encrypt shared data on remote machines. In such cases, the ransomware itself is not executed on the protected remote machine (either because it wasnt deployed there by the attacker or was blocked by endpoint protection). As a result, the ransomware binary itself or the attacker-controlled process (that performs the encryption) cannot be observed from the machine that holds the targeted data.

So, because there is no malicious code to be detected on the attacked machine, technologies like antivirus, machine learning, indicators of breach, etc.all focused on identifying adversaries and their malicious codeare completely sidelined and not in play (even if it is a well-known years-old sample responsible for the encryption). However, CryptoGuard can recognize when a remote machine replaces documents in the shared folder with encrypted versions, and automatically takes action by blocking the IP address of the remote machine and reversing the changes it made. It creates temporary backups of any modified files, so that the changes can be rolled back if mass encryption is detected, and can also detect the deployment of ransom notes within the folders where the ransomware has encrypted files. Consequently, it sometimes identifies instances of data exfiltration, even though it was not explicitly designed for that purpose.

Adversaries will sometimes abuse an existing process, or package a normally benign process that loads a malicious DLL (known as DLL side-loading), in order to perform encryption. The encryption activity is performed under the identity of the benign process, now running attacker-code, and encrypting documents.

A real-world example of this isthe Kaseya VSA incident, where the REvil threat actor embedded a malicious DLL to be side-loaded in an outdated but vulnerable Windows Defender executable. The threat actor purposely chose Defender, because protections typically trust code signed by Microsoft. Additionally, a DLL cannot be examined as thoroughly as an executable in a sandbox environment, meaning it may be approved sooner.

On that occasion, Sophos detected both the REvil payload itself, as well as an REvil-specific code certificate. And while Kayesas protection exclusions allowed the REvil dropper to be installed on machines, CryptoGuard detected the ransomware, because its not constrained by such exclusions and blocks file encryption anywhere on protected drives.

There is no panacea when it comes to battling ransomware. An effective defence should include a myriad of layers, from vulnerability remediation and configuration reviews to user education and security solutions. But, regardless of which layers organizations employ, and how many, an important aspect to consider is the robustness and effectiveness of the last layer, when all other measures have failed and threat actors are in a position to execute their ransomware. At that point, the solutions weve covered here come into their own.

These solutions are diverse, covering numerous different behavioral traits and activity. Many vary widely in terms of their scalability, versatility, and cost-benefit ratios, and have distinct strengths and weaknesses. A key commonality is that most solutions focus on detecting badness in some way whether through API call analysis, honeyfiles, or some sort of fingerprinting. Thats not necessarily a disadvantage, and a layered and diverse defence stack is a solid approach. But, as weve shown, the CryptoGuard approach within Intercept X is slightly different, and more asymmetric: focusing on file contents rather than the behaviors of ransomware or its operators.

Ransomware continues to evolve, and more and more solutions and techniques are likely to appear in response. As weve been doing for the last ten years, well continue to track changes in both ransomware and the solutions designed to detect and prevent it.

Mark Loman, vice-president of software development and threat research at Sophos, is a ransomware expert and a good-guy hacker who really cares about keeping information safe. He leads a team of experienced developers whose main job is to create practical defenses that can spot and stop threats without needing to know about past attacks or specific signatures. With over 15 years of experience, Loman and his team really understand modern computer systems and applications. Their goal is simple: To make it difficult for the bad guys who want to sneak into computers, mess with how apps work, or lock up your files. They achieve this with security measures that safeguard documents and secrets, and by making swift adjustments to the computer's inner workings, which significantly increases the difficulty for anyone trying to cause trouble. Among his many other Sophos projects, he is the co-creator of CryptoGuard.

Matt Wixey is a Principal Technical Editor and Senior Threat Researcher at Sophos. He is a former penetration tester, and previously led cybersecurity R&D capabilities at both PwC UK and a specialist unit in the Metropolitan Police Service, digging into emerging attack vectors, vulnerabilities, and new technologies. Matt has spoken at national and international conferences, including Black Hat USA, DEF CON, ISF Annual Congress, 44con, and BruCon.

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EU ministers urged to defend citizens’ right to data privacy – TechRadar

Data Privacy Week kicked off in the EU with a pledge from the industry to defend encryption in 2024.

Some of the companies using this technology to develop security software, including VPN services, and secure email and messaging apps, are now calling EU ministers to defend their citizens' privacy and withdraw a worrying proposed regulation.

Deemed by critics as Chat Control, the EU Child Sexual Abuse Material (CSAM)Scanning Proposal could allow authorities to scan people's private and encrypted chats for dangerous content as a way to halt child sexual abuse (CSA) online.Yet, experts argue that going down this route rather endangers users (children included) instead.

"We all agree that ensuring children are safe online is one of the most important duties of tech companies and for this reason, we find the European Commissions proposed Regulation extremely worrying. If it were implemented as proposed, it would negatively impact childrens privacy and security online, while also having dramatic unforeseen consequences on the EU cybersecurity landscape, creating an ineffective administrative burden," wrote the experts in an open letter.

The group, composed of trade associations, and small and medium-sized tech companies, especially pointed out the risk of having a "backdoor" to allow authorities to scan messages in end-to-end encrypted environments.

So-called client-side scanning may help fight online crime, but, they argue, "it would also quickly be used by criminals themselves, putting citizens and businesses more at risk online by creating vulnerabilities for all users alike."

Among the signatories (22 in total) are popular VPN provider Surfshark, Swiss-based security software firm Proton, secure email service Tuta (formerly known as Tutanota), and encrypted messaging app developer Element.

The recent attack on encryption and the concept of client-side scanning began filling the news last year as tech companies raised the alarm on similar proposed legislation in the UK. While the Online Safety Act is now law, the messaging scanning requirement has been postponed until "it's technically feasible to do so" without breaking encryptiona solution that delays the issue rather than solving it.

In October the EU Parliament reached a historical agreement, though, asking for the removal of the Chat Control clause in order to safeguard online security and encryption. Now, it's the time for each EU Member State to agree on their own position.

"We call on our ministers, specifically on Nancy Faeser (SPD, Germany), to choose the right side in this discussion: uphold strong encryption and protect the human right to privacy of millions of EU citizens and businesses," said Matthias Pfau, founder of German secure email provider Tuta Mail.

According to Pfau, Europe cannot pride itself on the progress made with GDPR legislation while simultaneously promoting client-side scanning. "Such a move would destroy any credibility the EU currently holds in matters of privacy and cybersecurity," he said.

Did you know?

One of the most secure VPN providers out there, Mullvad VPN got vocal last year to raise awareness of the risks of the EU Chat Control law. It sends hundreds of emails to both journalists and politicians, while even putting giant banners across airports and the streets of some European cities. "Mullvad is usually a very silent company. This is probably the first time we really got mad enough to speak out," Jan Jonsson, CEO at Mullvad, told me when the company began its campaign in March last year.

EU State members are expected to vote on the proposed CSA regulation in the next few weeks and they hope to reach an agreement by March. Romain Digneaux, Public Policy Specialist at Proton, explained that only after that trilogue negotiations will be able to start. With EU Parliament elections happening in June, though, time is everything.

"We hope that the Belgian Presidency will act as an honest broker and take inspiration from the European Parliament to make sure that children are adequately protected, as well as everyone's right to privacy and security online," Digneaux told me. "However it looks like deep divisions still remain between member states."

All in all, experts are calling for finding a balanced approach alongside technically feasible solutions that could enhance child protection rather than undermine it. Specific requests include preserving the confidentiality of correspondence, refraining from forcing tech companies to perform mass surveillance and minimizing the administrative burden of the proposalby finding alternatives to mass scanning.

Commenting on the latter point, Digneaux told me: "There are many methods for combating crime online, as has been proven time and time again, which dont compromise privacy and security. While we cant publish the exact methods that we use (as that would play into the hands of the bad actors), at Proton we have a large team who work 24/7 to identify and remove bad actors and we cooperate with law enforcement within the framework of Swiss law.

"To sound horribly pragmatic, there is zero benefit to us to turn a blind eye to this behavior. In fact, the opposite, criminal behavior presents a huge threat to our entire business."

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Is Snapchat Encrypted And Safe? Let’s Find Out – Dataconomy

Is Snapchat encrypted? Delving into the realm of digital security, this article unravels the layers of Snapchats encryption practices. As users increasingly prioritize privacy, understanding the mechanisms, such as end-to-end encryption, becomes pivotal.

Join us on a journey through the intricacies of Snapchats security measures, shedding light on the protection of snaps and essential safety considerations for users navigating the ever-evolving landscape of social media.

Yes, Snapchat incorporates encryption as a fundamental component of its security infrastructure, employing a mechanism known as end-to-end encryption. This cryptographic protocol is designed to secure the content of communications, ensuring that only the intended recipients can decipher and access the shared information.

However, its important to note that the scope of encryption within Snapchat is specific. The end-to-end encryption applies primarily to one of Snapchats core features snaps, which encompass both photos and videos. When a user sends a snap, the content is encrypted on the senders device and remains encrypted during transit across the Snapchat servers. It only gets decrypted and becomes viewable when it reaches the intended recipients device.

This means that, theoretically, even if someone were to intercept the transmitted data between sender and recipient (such as a hacker or a malicious entity), they would only encounter encrypted, indecipherable information. The encryption key, which is necessary to unlock and reveal the content, resides solely with the devices at the endpoints of the communication the senders and the recipients devices.

Its crucial to highlight a limitation in Snapchats encryption strategy. While snaps benefit from end-to-end encryption, other forms of communication within the platform, such as text messages and chat interactions, do not enjoy the same level of encryption. These types of communications are subject to encryption during transit but may be stored in an accessible format on Snapchats servers.

In essence, Snapchats encryption measures enhance the privacy and security of snaps, contributing to a safer and more secure user experience. Users can, therefore, share photos and videos with a reasonable assurance that their content remains confidential between themselves and the intended recipient, even as it traverses the Snapchat network. Nonetheless, its advisable for users to remain vigilant, adhere to best practices, and take advantage of additional security measures, such as two-factor authentication, to fortify their overall online security.

Is Snapchat encrypted? Now, you know the answer! However, is it secure in general?

Snapchat, like many other social media platforms, can be considered relatively safe when used with awareness and caution. The app has implemented various security features, including end-to-end encryption for snaps, privacy settings, and additional safety measures. However, its crucial for users to be mindful of certain aspects and take steps to enhance their security and privacy.

Here are some factors to consider:

To enhance safety on Snapchat, users can follow the recommended guidelines and best practices:

Is Snapchat encrypted and safe? We explained it in detail. In conclusion, while Snapchat has implemented security measures, safety ultimately depends on user awareness and responsible use. By understanding the platforms features, configuring privacy settings, and staying informed about potential risks, users can enjoy a safer experience on Snapchat. Additionally, considering tools like Virtual Private Networks (VPNs) for enhanced online privacy can further contribute to a secure digital presence.

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Businesses call on EU to defend encryption and privacy – BetaNews

In March this year, EU countries' interior ministers are due to vote on the introduction of mandatory client-side scanning for all providers in order to identify child abuse material.

But an open letter, published today, from a group of privacy-focused companies warns of the risk of opening up a backdoor and calls on ministers to defend citizen's right to privacy and strengthen the position of EU companies.

"Security experts agree that the chat control proposal by the EU Commission to scan every chat message and every email would create a backdoor -- one that could and will be abused by criminals. As the largest encrypted email provider in the EU, we are proud that we have built Tuta Mail here in Germany -- a secure product in line with the European GDPR enabling millions to communicate confidentially online," says Matthias Pfau, founder of Tuta Mail. "Now we call on our Interior Ministers, specifically on Nancy Faeser (SPD, Germany), to choose the right side in this discussion: uphold strong encryption and protect the human right to privacy of millions of EU citizens and businesses. Europe cannot pride itself on the progress made with GDPR legislation while simultaneously promoting client-side scanning. Such a move would destroy any credibility the EU currently holds in matters of privacy and encryption for businesses and citizens alike."

The letter points out that the EU has a unique chance to become the beacon of hope for freedom of speech and democracy by defending strong encryption so EU citizens and businesses can continue to enjoy online privacy and confidentiality at the highest possible level.

It calls on the EU council to guarantee a number of things to preserve a high level of cybersecurity in the EU by protecting end-to-end encryption and bringing the necessary safeguards in the text. It says that client-side scanning and backdoors in particular should not be mandated in order to preserve confidential correspondence.

You can read the full letter here.

Image credit: Rawpixel / depositphotos

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Attribute-based encryption could spell the end of data compromise – Help Net Security

The future of data privacy is the end of compromise. With the world producing data at astounding rates, we need ways to put data to the best use while protecting against breaches and ensuring privacy, data protection and access control.

These principles are foundational to attribute-based encryption (ABE)a novel form of encryption that after years of study is now beginning to be commercially deployed.

Compared to the prevailing coarse-grained access model of legacy encryption technologies, in which giving out a secret key essentially amounts to giving access to all the encrypted data, ABE is a more finely tuned approach that grants prescribed access of encrypted data to someone with a matching set of traits.

The paradigm is thus shifting from all-or-nothing to both-and. Both access to critical data for those with an authorized need-to-know and sustained encryption for all other data to be kept protected. The use cases for this policy-based approach are compelling, and behind them lies a distinguished theoretical foundation.

The history of ABE goes back to a ground-breaking 2005 paper titled Fuzzy Identity-Based Encryption. Fifteen years later, recognizing the papers significance, the International Association for Cryptologic Research (IACR) gave it a 2020 Test of Time Award. One of its co-authors, Dr. Brent Waters, later said the paper has had a three-fold impact.

First, there has been the concept of ABE as its own application with distinctive new use cases, several of which are discussed below. Second, the cryptographic research community not only has spent years studying ABE, but also used ABE as a building block, leveraging it to obtain new results in work on other problems. Third, according to Dr. Waters, the work in ABE inspired us to rethink encryption in even bigger and grander ways. One such overflow has been functional encryption, which allows a user to learn only a function of a data set.

For ABE, the end goal is fine-grained access to the data itself. On its own, thats a revolution. An ABE scheme can provide the right user with a key to very specific data. Not to an entire file cabinet, so to speak, but to a single line item within a category of filed documents. The elegance of this approach is that it protects the data through encryption, and by embedding access control mechanisms directly into the data, it ensures proper protection at all times, regardless of the system or environment. This unique advantage significantly enhances traditional system-based access control.

So how does this play out in practice? An ABE hackathon hosted by NTT Research in late 2022 provided several examples. The hackathon winner was an ingenious application of ABE to surveillance video, with advanced privacy protection.

Motivated by an incident involving leaked footage that revealed faces in a crowd, the data scientist and implementation engineer who created this app realized that they could use ABE to protect privacy and to make certain data (e.g., images of a criminal suspect) available to authorized personnel. Their hackathon demo extended privacy to a broader range of data, including building logos and license plates, as well as metadata containing GPS information.

This winning demo used a combination of artificial intelligence (AI), network edge processing, encryption, policy and data storage. First, using video they had shot in San Francisco, the site of the hackathon, they detected and labeled objects, through an edge-based convolutional neural network. Then they encrypted images, mapping between labels and ABE policies, such as allowing only an authenticated user with certain attributes to decrypt an object labeled face. Finally, they stored the video, including blurred images and encrypted metadata, in a database.

Demos from other hackathon participants illustrated more use cases, such as: ticketing and physical access to a transportation service; owner-control of data derived from a vehicles electronic sensors; employer access to employees personal mobile numbers; and a banking systems migration from single-factor, role-based access control (RBAC) to ABEs more granular control.

Another area ripe for ABE is the medical field. Two drivers are the acceleration of e-health and the demands of regulation, such as the U.S. Health Insurance Portability and Accountability Act (HIPPA). Back in 2011, the Johns Hopkins team had already explored the utilization of ABE to secure Electronic Medical Records (EMR).

Since then, numerous additional works have been conducted in this field.

While academics continue their research, deployments have begun. The hackathon winners, for example, are at work on several actual client projects. These include the monitoring of people in a hospital, surveillance in a manufacturing plant and the use of smart cameras while complying with the EU General Data Protection Regulation (GDPR).

The concept of the hackathon has evolved significantly. It now includes the processing of video and live-streaming content as well as still images. It is now possible to freely restrict privacy information visible to multiple recipients with different levels of security in a single real-time encrypted video. These innovative applications were introduced at the NTT R&D Forum 2023 and attracted great attention. The development is being tailored to a variety of use cases.

Another venue for vetting and rolling out ABE is at the intersection of academia, government and the private sector. A case in point is the University of Technology Sydney (UTS) Vault, a purpose-built, secure facility in New South Wales (NSW), Australia that enables collaboration between private sector tenants and a public university. In August 2023, UTS Vault announced an agreement to work with NTT DATA, an affiliate company of NTT, to validate ABE and co-develop use cases in cloud computing, healthcare, and IoT.

The world faces many conflicts today. One that has seemed intractable is the tension between data proliferation and demands for privacy. Introduced conceptually more than 15 years ago, ABE has become a plausible solution. ABE offers a compromise between data protection and access, and its a category that bears watching.

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A deep dive into encryption and end-to-end security – The Financial Express BD

In an age where information is considered wealth, protecting it has become paramount. Encryption, a process of converting information into an unconsumable form based on specific rules, has emerged as a powerful tool in this digital era.

One of its most robust forms, End-to-End (E2E) encryption, has revolutionised how various entities handle sensitive data.

From human rights organisations to law enforcement agencies and technology companies, the adoption of E2E encryption has reshaped their approach to accessing and utilising individuals' information for protection, prosecution, or profit.

At its core, encryption employs keys, data that unlocks or decrypts encrypted information. The Data Encryption Standard (DES) is a classic example of symmetric encryption, where the same key is used for encryption and decryption.

In contrast, asymmetric encryption involves separate keys for encryption and decryption. This method, exemplified by the Curve25519 algorithm used by WhatsApp, offers enhanced security with shorter keys, relying on elliptic-curve cryptography principles.

The encryption process encompasses hash functions responsible for encrypting a message. These functions ensure that the encrypted version of a message (digest) doesn't reveal the original content, produces a fixed-length digest irrespective of the message length, and generates unique digests for distinct messages.

The DES algorithm's hash function, involving S-boxes and block cyphers, illustrates the intricate processes encryption employs to obfuscate messages effectively.

E2E encryption comes into play during information transmission, particularly in messaging apps. It ensures that messages remain encrypted both in transit and at rest, only decrypted upon reaching the intended recipient.

This method enhances privacy and security, building trust among users regarding the confidentiality of their communications.

However, the effectiveness of E2E encryption is not absolute. The possibility of a man-in-the-middle (MITM) attack, where an attacker intercepts and decrypts messages, poses a threat. To counter this, users can employ fingerprint verification to confirm the authenticity of encryption keys, thwarting potential attackers.

Moreover, complacency among users is another concern. While E2E encryption secures messages during transmission, an attacker can exploit device vulnerabilities to gain unauthorised access to sensitive data. Malware attacks through channels like SMS can compromise the integrity of encrypted messages.

Legal and illegal factors also impact E2E encryption. Companies may be required by law to install backdoors, allowing access to encrypted information.

The Snowden affair exposed instances where companies cooperated with intelligence agencies, installing backdoors to provide unauthorised access to encrypted messages.

Additionally, the surveillance of users becomes possible by accessing metadata and providing details about message frequency, timing, and locations without revealing the content. Balancing the need for privacy with the legal requirements and the potential for misuse remains a complex challenge.

Its evolution from symmetric to asymmetric encryption showcases the ongoing efforts to enhance security and privacy. However, the digital security landscape is dynamic, requiring continuous adaptation to address emerging threats.

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