Mifare Classic RFID successfully hacked

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Two groups of researchers have independently cracked the Mifare Classic RFID chip's algorithm, prompting the Dutch government to issue a public warning. The matter is serious, as besides being heavily used in access cards worldwide, the Mifare Classic RFID technology also is employed by transit operators in various locations such as London, Boston and the Netherlands. In fact, some reports note that as many as one billion actively used access cards worldwide could be affected. The irony of the matter is that NXP Semiconductors have been quick to announce a new, "more secure" version of the chip called Mifare Plus. Mifare Plus leverages on 128-bit encryption, instead of the 48-bit encryption used by the Mifare Classic. However, it won't be cheap to upgrade, as new RFID readers will need to be installed to utilize the more advanced encryption. The question here is: Does it always take a demonstrated hack before a company will get its security act together? 

For more on the Mifare Classic RFID hack:
- check out The Tech Herld article