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Is Bitcoin Security Doomed Amid New SHA-256 Collision Attack?

Published 03/31/2024, 10:59 PM
Updated 03/31/2024, 11:15 PM
© Reuters.  Is Bitcoin Security Doomed Amid New SHA-256 Collision Attack?
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  • Crypto security firm OneKey has addressed the breakthrough in SHA-256 collision attacks.
  • It involves generating identical hash values from 31 steps of the SHA-256 hashing process with two data inputs.
  • OneKey argued its immediate impact on cryptocurrencies like Bitcoin is likely limited.

OneKey, a well-known open-source hardware and crypto wallet provider, recently addressed the viral tweet claiming a breakthrough in SHA-256 collision attacks. While the news sent ripples through the crypto community, OneKey assures that it calls for no panic.

For context, SHA-256 is a fundamental cryptographic algorithm widely used in various digital security applications, including cryptocurrencies like Bitcoin. The recent breakthrough involves finding two different inputs that produce identical hash values.

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