This could be huge. From Tyler Durden at zerohedge.com:
Earlier today, we reported that according to a press reports, Intel’s computer chips were affected by a bug that makes them vulnerable to hacking. Specifically, The Register said the bug lets some software gain access to parts of a computer’s memory that are set aside to protect things like passwords, and making matters worse, all computers with Intel chips from the past 10 years appear to be affected. The news, which sent Intel’s stock tumbling, was later confirmed by the company.
In a statement issued on Monday afternoon, Intel said it was working with chipmakers including Advanced Micro Devices Inc. and ARM Holdings, and operating system makers to develop an industrywide approach to resolving the issue that may affect a wide variety of products, adding that it has begun providing software to help mitigate the potential exploits. Computer slowdowns depend on the task being performed and for the average user “should not be significant and will be mitigated over time” the company promised despite much skepticism to the contrary.
As Bloomberg helpfully puts it, Intel’s microprocessors “are the fundamental building block of the internet, corporate networks and PCs” and while Intel has added to its designs over the years trying to make computers less vulnerable to attack, arguing that hardware security is typically tougher to crack than software, there now appears to be a fundamental flaw in the design.
In a vain attempt to mitigate the damage, Intel claimed that the “flaw” was not unique to its products.
“Intel and other technology companies have been made aware of new security research describing software analysis methods that, when used for malicious purposes, have the potential to improperly gather sensitive data from computing devices that are operating as designed,” the Santa Clara, California-based company said. “Intel believes these exploits do not have the potential to corrupt, modify or delete data.”
To continue reading: “Everyone Is Affected”: Why The Implications Of The Intel “Bug” Are Staggering