Crisis! RSA encryption cracked. Finance in anger, calling for regulation.

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At this moment, Prof. Dr. Michelev from Moscow Mathematics Institute presents his paper presenting a solution for the classical asymmetric RSA problem. By using hyperbolic geometrical projections in a hilbert space he tracked down the problem in the case of 2048 bit RSA to 4096 tries to compute to get the key. He put the program to download on his server as open source, but the server was "knocked out" by high demand in 20 minutes.

Financial institutions are out of hell today, says APR analyst A. Prilstone. Bank shares are falling to nowhere, and the NYSE and NASDAQ will stop trading in the hours to come.

"Isn't your work an extreme danger for our lives and our security" Mr Michelev was asked. He replied "in the ourdays economic crisis this is also the begin to rebuild a better system: a better cryptographic system, a better financial system, a better world system. I'll spend the next days and months with my wife and my children watching things changing.".

RSA cryptography is used throughout the world to secure communication on the internet and other networks. RSA is the algorithm used to be able to "check each other" and to create a common symmetric key to secure the transaction/communication. This symmetric keys have not been cracked, defacto standard of today is AES. If RSA is used to share such a symmetric key, then the key is known and useless.

Experts urge users not to use any credit card or bank transactions via the Internet on these days, even if the browser marks the site as "secure".

Major banks in the USA have called government for strict regulation of cryptography and for laws to prevent chaos in the financial market.





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