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WEP
Wired Equivalent Privacy
And approach to shared key encryption that was supposed to provide equivalent to wired protection for wireless traffic
Turns out it wasn't...
Built in the era of watered down encryption due to export restrictions.
It turned out that 64bit wep keys were a bit more vulnerable to factoring (40 bits or less) than previously thought. With the result that the key can be recovered in a matter of minutes.