Re:Meet Coin (YC W13), a startup creating a universal credit...
by jerf on Thursday November 14, 2013 @01:19PM
(#6734197)
As with some other people in cousins comments to your post, I think you may not realize that that attack is already perfectly feasible today. By "feasible" I mean real criminals already do this today, not merely that some academics hypothesize that it may be possible. It's all very off-the-shelf stuff. If you're worried about this attack, the solution isn't "don't use Coin someday in the future", it's "don't use anything with a magnetic strip, today".
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