Did the World's Most Trusted Crypto Institution Awards Go Down the Drain Due to Key Loss?
Photo by Unsplash
Source
bbc.com
Published
Nov 28, 2025
Category
Hardware & Chips
Executive summary
The encrypted key was held by three people. Each key was meaningless on its own, but together they formed a meaningful key. The task of these three people was to upload their assigned encrypted material online. However, one of them failed to do so, and the election results could not be announced.
Analyst insight
Due to hacking, technology was not trusted to ensure the security of encrypted keys. It was entrusted to a group of three people, but since these three people are human and can make mistakes and fail to perform their duties, the election results could not be announced. IACR, a leader in the encryption industry, terminated the trustees who lost the key to resolve this issue. They announced that they would implement a system where having at least two of the three keys would be sufficient.
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