Xecret.io Launches On-Paper Encryption Technology Used for Cold-Storage of Confidential Information

Xecret.io has launched its on-paper encryption technology used for cold-storage of confidential information, such as crypto wallets’ seed phrases, private keys, recovery tokens and other confidential information.

To safeguard highly sensitive information, cold storage is a secure option. This involves keeping the data offline to prevent online hacking attempts. However, cold storage is not foolproof. People who use unencrypted single medium formats such as paper or metal storage are still at risk of theft, loss, and physical damage.

The company offers a solution that utilizes 2 technologies: Private. me’s information dispersal algorithm (IDA) and cryptographic QR codes.

The IDA protects users’ information from physical loss, damage, and theft by sharding encrypted data into multiple slices, while QR codes allow its app to work. Compared to other solutions, such as metal plate engravings, which are labor intensive, expensive, and fail to protect vs. theft or loss. The firm’s ability to provide simultaneous protection against loss, fire, and theft is a step forward in cold storage technology.

The is for safeguarding recovery phrases for any digital wallet that generates a seed phrase, including options like CoinBase Wallet, Trust Wallet, and Meta Mask, as well as hardware wallets like Ledger Nano and Trezor. It can also be used to secure one-time-use tokens like Apple ID’s Recovery Keys or Google’s Backup Codes.

The firm is putting up a $1,000,000 reward for anyone who can successfully crack the encryption of 2 cryptographic QR codes featured on their website.

The challenge involves recovering a Meta Mask wallet’s seed phrase that is hidden within these QR codes. The goal of this bounty is to publicly demonstrate the security of individual QR codes. If you’re up for the challenge, you can find more information and participate by visiting this link.

Resources:
Xecret.io white paper
Demo