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by vt_mruhlin 3191 days ago
I heard about these guys on NPR's Radiolab podcast a couple months ago, and the whole thing gave me a creepy feeling.

http://www.radiolab.org/story/ceremony/

They describe the whole ceremony the guys go through to generate the random secret key that seeds their algorithm and needs to be kept secret in order to prevent anybody from counterfeiting coins. It was an elaborate setup supposedly designed to prevent people from observing any details they might be able to use to reverse engineer the algorithm. But, despite all their insistance on bespoke cloak and dagger shit, there were a lot of times the process could have been broken:

- They're supposed to be driving to a randomly selected electronics store to buy the laptop that will generate the number; but the guy makes an "unscheduled" stop at a costume store so he can buy a wizard hat (and potentially hand off information with a third party who wants to know their destination, or to pick up some kind of surveillance device)

- When the time comes to type random numbers on the laptop keyboard, the guy covers his hands and the keyboard. Arguable pro there is that nobody can see which keys he touches, but the big obvious con is that he can slip that USB device he picked up at the costume shop into one of the USB ports.

- People are using their phones while this whole process is going on? Ok, seems counterproductive to all that paranoid security they were trying to have...

- Oh look, they noticed strange indicators that strongly suggested somebody's phone got hacked and was being used to spy on their skype conversation? Somebody that paranoid should have immediately shut the process down and restarted it at a later date. They didn't do that? Something sure is fishy with the guy running this thing.

tl;dr; I don't trust 'em

2 comments

Here's Peter Todd's writeup of his part in the setup ceremony: https://petertodd.org/2016/cypherpunk-desert-bus-zcash-trust... . For what it's worth, he was completely physically separate from anyone else in the ceremony, and no such shenanigans are described in his part of it. As long as any one of the 9 did their part correctly, then it's good. His writeup is not without criticism of the Zcash system though.
And here's Peter later talking about his doubts due to the AMT backdoor, with responses from Zooko.

https://twitter.com/petertoddbtc/status/861726383730503680

Agreed, red flags bombarded that entire interview and it's incredible that anyone could hear it and still buy into the system.