[July 26, 2011] Yubico provides YubiKey for Mt. Gox Bitcoin currency exchange Tweet Jul 26, 2011 (TELECOMWORLDWIRE via COMTEX) -- Secure login solutions provider Yubico announced on Tuesday that its YubiKey is providing two-factor authentication for Bitcoin currency exchange Mt. Gox and its customers. No financial details were disclosed. Mt. Gox allows consumers to trade US Dollars (USD) for Bitcoins (BTC) or Bitcoins for US Dollars with other Mt. Gox users. According to the company, Mt. Gox's database was compromised last month when a user account was hacked and the exchange needed a more secure solution to offer its customers to prevent another security breach. The YubiKey allows the exchange to generate the cryptographic secrets and manage authentication itself. In addition, as Yubico's software is free and open source, there are no setup fees which enabled Mt. Gox to rapidly implement strong authentication. Comments on this story may be sent to [email protected] [ Back To TMCnet.com's Homepage ]