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Guarding Against Physical Attacks: The Xbox One Story — Tony Chen, Microsoft
Platform Security Summit

Microsoft's Tony Chen explains how the Xbox One was designed to resist physical attacks, including secure boot, encrypted memory, a security processor and a hypervisor. The goal was to make any hardware attack cost more than the price of many games.
HN points to it constantly in console, DRM and hardware-security threads as the authoritative account of Xbox One's threat model.
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