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From Wired Top Stories:
Let this be a lesson for companies implementing smartcard systems: If you don't want people creating money from nothing, pay attention to the security research before investing.
Security consultant Harald Welte would be glad to say the same thing. Speaking at the annual Chaos Computer Club (CCC) Congress here Wednesday, he explained how he was able to break Taiwan's smartcard-based transportation-payment system, which was expanded this year to be a larger citywide payment system, using a $40 smartcard reader and a few hours of time.
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