Android flaw leaves bitcoin wallets open to theft

Android flaw leaves bitcoin wallets open to theft

The Bitcoin Foundation is warning users that a security vulnerability is leaving any currency stored in Android wallets open to theft.

In a post on its site, the foundation says that a "component of Android responsible for generating secure random numbers contains critical weaknesses, that render all Android wallets generated to date vulnerable to theft".

Updates are being prepared for several wallet apps, including Bitcoin Wallet, BitcoinSpinner, Mycelium Wallet, and blockchain.info, to address the issue.

In the meantime, users are being urged to make sure they carry out 'key rotation' - generating a new address with a repaired random number generator and then sending all the money in the wallet back to themselves.

Meanwhile, the regulatory heat continues to be turned up on bitcoin, with the Wall Street Journal reporting that the New York Department of Financial Services issuing subpoenas to several companies connected to the crypto-currency - including BitInstant, Coinsetter - asking questions related to money laundering, investment strategies, and consumer protections.

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