Security Experts:

Connect with us

Hi, what are you looking for?

SecurityWeekSecurityWeek

Fraud & Identity Theft

Bitcoin Entrepreneur Injects Bitcoin ‘Wallets’ into Hands

Bitcoin

 Dutchman Has Bitcoin ‘Wallets’ Inserted in Hands

THE HAGUE – A Dutch bitcoin entrepreneur has had two microchips containing the virtual currency injected into his hands to help him make contactless payments.

Bitcoin

 Dutchman Has Bitcoin ‘Wallets’ Inserted in Hands

THE HAGUE – A Dutch bitcoin entrepreneur has had two microchips containing the virtual currency injected into his hands to help him make contactless payments.

The chips, enclosed in a 2mm by 12mm capsule of “biocompatible” glass, were injected by a professional using a special syringe.

They emit a tiny radio signal using Near Field Communication (NFC) and can store up to 888 bits of information each.

“We wanted to do this experiment to push further the concept of the virtual wallet,” Martijn Wismeijer, co-founder of MrBitcoin which installs bitcoin cash distributors, told AFP.

Using NFC, the chips can communicate with devices such as Android smartphones or tablets.

“What’s stored on the microchips should be seen as a savings account,” rather than a current account, Wismeijer said.

“The payment device remains the smartphone, but you transfer funds from the chips,” said Wismeijer, who was injected with the chips along with a handful of other people on November 3.

His experiment has garnered so much publicity that he has temporarily withdrawn the money from his hands for security reasons.

“The aim wasn’t for everyone to know about it,” he said, laughing.

The chips are available on the Internet, sold with a syringe for $99 (around 80 euros) by the Dangerous Things company.

“It’s really not recommended to do this yourself, you should find a specialist if you want to avoid infections,” Wismeijer said.

Besides storing bitcoins, the chips can be programmed with a smartphone to do such things as open doors electronically or turn an alarm clock off if placed in a certain position.

Around 1,500 people around the world have already had such chips injected, Wismeijer said, but he did not know how many carried bitcoins.

Such experiments are important to make the technology acceptable to society, he said.

“Imagine having a tattoo that is normally invisible but turns red if you have a heart attack: you scan the tattoo with your smartphone and your doctor is immediately alerted.”

Written By

AFP 2023

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Expert Insights

Related Content

Cybercrime

A digital ad fraud scheme dubbed "VastFlux" spoofed over 1,700 apps and peaked at 12 billion ad requests per day before being shut down.

Application Security

Virtualization technology giant VMware on Tuesday shipped urgent updates to fix a trio of security problems in multiple software products, including a virtual machine...

Application Security

Fortinet on Monday issued an emergency patch to cover a severe vulnerability in its FortiOS SSL-VPN product, warning that hackers have already exploited the...

Application Security

Password management firm LastPass says the hackers behind an August data breach stole a massive stash of customer data, including password vault data that...

Application Security

Software maker Adobe on Tuesday released security patches for 29 documented vulnerabilities across multiple enterprise-facing products and warned that hackers could exploit these bugs...

Application Security

Software maker Adobe has rolled out its first batch of security patches for 2023 with fixes for at least 29 security vulnerabilities in a...

Application Security

After skipping last month, Adobe returned to its scheduled Patch Tuesday cadence with the release of fixes for at least 38 vulnerabilities in multiple...

Application Security

Video messaging giant Zoom has released patches for multiple security vulnerabilities that expose both Windows and macOS users to malicious hacker attacks.The vulnerabilities, in...