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CATEGORY: multisig


 WazirX restores balances post-hack, withdrawal timeline unclear

Author: Cointelegraph by Amaka Nwaokocha
United States
Aug 18, 2024 12:00

WazirX restores balances post-hack, withdrawal timeline unclear

The delay in withdrawals has impacted individual investors and raised concerns about the overall security and reliability of cryptocurrency exchanges.

Aug 12, 2024 02:15

Arkham Intelligence Introduces Tags for Gnosis Safe Signers


Arkham Intelligence has launched a new feature allowing users to tag and find signers of Gnosis Safe Multisig wallets. (Read More)

Aug 01, 2024 01:25

Google, Robinhood Veteran Aims To Bring Bitcoin Multsig To The Masses With Theya

Sriram Bhargav Karnati, a former consumer product developer at Google and Robinhood, is now building Theya, the most usable Bitcoin multisig vault on the market today.

May 07, 2024 01:25

DIY Multisig vs. Collaborative Custody Multisig

Deciding to take bitcoin into self-custody is the first step, but holders must assess how they want to protect their savings with either singlesig, DIY multisig or collaborative custody.

Apr 25, 2024 01:25

Unchained Is Helping Users Secure 90,000 BTC And Counting in Self Custody

Joe Kelly, CEO and co-founder of Bitcoin financial services platform Unchained, is determined to give users a true Bitcoin experience, while still meeting them where theyre at.

Mar 28, 2024 02:25

Casa's New 'Bitcoin Inheritance' Product Aims to Protect Generational Wealth

Casa Inheritance will ensure a smooth, KYC-free wealth transfer and protection against loss of digital asset funds in the event of death.

Mar 17, 2024 01:25

Multisig, Shamir's secret sharing, & MPC compared

Taking a closer look at threshold security models for institutional-grade bitcoin custody.

Mar 28, 2023 06:55

US District Judge Rules in Favor of Custodial Arrangement for bZx DAO Members


A US district judge has ruled that bZx DAO transactions are custodial due to the ability for developers to upgrade a smart contract where the key is held by a single developer, as highlighted in a class-action lawsuit against bZx DAO and others. This may impact DeFi platforms that use multisigs and require them to obtain custody licenses to comply with the law. (Read More)

Mar 09, 2023 06:55

Safeheron Discovers Security Flaw in MPC Wallets


Safeheron has identified a security flaw in MPC wallets when used with Starknet-based apps like dYdX and Fireblocks. The flaw allows attackers to bypass the security protection of private keys in MPC wallets, potentially leading to unauthorized transactions. (Read More)

Multisig wallets vulnerable to exploitation by StarkEx apps, says developer Safeheron

Author: Cointelegraph By Tom Blackstone
United States
Mar 09, 2023 04:40

Multisig wallets vulnerable to exploitation by StarkEx apps, says developer Safeheron

The vulnerability allegedly allows Web3 apps using the StarkEx protocol to bypass the security protection of private keys in MPC wallets, potentially exposing users' layer 2 keys to wallet providers.

Blockstream dreams up a whole new type of multisig called ROAST

Author: Cointelegraph By Brian Quarmby
United States
May 25, 2022 08:25

Blockstream dreams up a whole new type of multisig called ROAST

In particular, ROAST has been posited as a signature standard that could work with, and improve, threshold signature schemes such as FROST (Flexible Round-Optimized Schnorr Threshold Signatures).

Apr 28, 2022 01:25

Weighing The Options Of Bitcoin Private Key Management

What environmental factors should one consider when deciding upon the various options available to store and manage Bitcoin private keys?

Feb 16, 2022 06:01

Is Polygon safu? Critics: Multisig isn’t secure enough, $5B in jeopardy

Polygon is perhaps the most popular alternative to transacting directly on the Ethereum baselayer (L1), giving users the opportunity to do fast transactions with low fees.

The post Is Polygon safu? Critics: Multisig isn’t secure enough, $5B in jeopardy appeared first on CryptoSlate.

Lightning Speed: Taproot And The Lightning Network, A Match Made In Heaven

Author: Eduardo Próspero
United Kingdom
Jan 04, 2022 08:30

Lightning Speed: Taproot And The Lightning Network, A Match Made In Heaven

A little more than two months ago, Taproot went live. What does the biggest update to the Bitcoin network in years bring to the table? How can it help the increasingly popular Lightning Network? That’s exactly what the article we’re about to summarize is about. It starts by informing us that “Bitcoin even has a scripting language,” and that it’s called Script. Related Reading | Number Of Bitcoin Lightning Network Nodes Jumps 23% In Three Months But before we get into that, what is Taproot? “Taproot is a combination of three Bitcoin Improvement Proposals (BIPs) that enhance this scripting infrastructure: BIP340 – Schnorr, BIP341- Taproot and BIP342 – Tapscript. The key of Taproot that unlocks all the others is the introduction of Schnorr Signatures, which allow for key and signature aggregation. This means that multiple parties are able combine their keys to a single public key, thereby allowing them to sign a single message.” It’s important to know that Taproot won’t allow “fully expressive” or “Turing complete” contracts like in Ethereum and all its related chains. Nor are those kinds of contracts a priority for the Bitcoin network, as our sister site Bitcoinist points out. Also, to curb our expectations, let’s read what Tales From The Crypt podcast’s host Marty Bent warned us about in his newsletter: “It is important to understand that these benefits aren’t going to be immediate. They are going to come to market slowly over time as the software gets implemented into wallets and other services. Many are expecting Taproot to get activated over the weekend and all its potential benefits to be realized immediately. This is simply not the case and it is important that this fact is understood.” Ok, let’s get into the meat and potatoes. How Does Taproot Help The Lightning Network? First of all, every Lightning channel consists of “2 of 2 multisigs”. So, a first benefit of being “able combine their keys to a single public key” is that “we have lighter transactions and therefore cheaper channel openings”. Not only that but “signature aggregation also offers enhanced privacy since its contents are indistinguishable from a single-signature transaction.” To clear up how does this benefit privacy, let’s quote the Binance Academy: “Spending Bitcoin using Taproot could make a transaction in a Lightning Network channel, a peer-to-peer transaction, or a sophisticated smart contract become indistinguishable. Anyone monitoring one of these transactions would see nothing but a peer-to-peer transaction. It’s worth noting, though, that this doesn’t change the fact that the wallets of the initial sender and final recipient will be exposed.” However, this is not quite true… yet. The Voltage article clarifies, “Does this mean that lightning channels are now unidentifiable on the blockchain? Well, the answer is ‘yes’ for private channels and ‘not quite yet’ for public channels.” BTC price chart for 01/04/2021 on Gemini | Source: BTC/USD on TradingView.com Private And Public Lightning Network Channels What’s the problem? Well, the network doesn’t announce the creation of private channels. The public ones, on the other hand: “Unfortunately, even if we do hide the channel openings on the blockchain, the current specification of the lightning protocol requires nodes to broadcast the details of the funding transactions when announcing their channels. This might seem counterintuitive at first, but it’s also an elegant way to prevent nodes spamming the network with fake channels.” Related Reading | How Big Is Bitcoin’s Lightning Network? The Answer Will Surprise You Also, let’s take into account that surveillance firm Chainalysis already announced a Lightning Network-related service. We should assume there are “sybil nodes surveilling the network”. And that “With enough hostile nodes” a bad actor could paint “a fairly detailed picture of the flow of funds”. Well, Taproot has an elegant solution for that: “Taproot’s introduction of Schnorr signatures paves the way for a type of smart contract called Point Time Locked Contracts (PTLCs). PTLCs operate in the same manner as HTLCs by allowing payments to be identified by nodes, but PTLCs come with a handy feature of being able to randomize its identifier with each hop thereby making it impossible for nodes to correlate the traffic of sending and receiving nodes.” Understand that “Taproot is a door that opens many other doors”. It’s a new toolkit with which developers all over the world will create new features and improvements. The info this article contains is just the beginning, the low-hanging fruit that we can see from our advantage point. Remember what Marty Bent said, “these benefits aren’t going to be immediate.” The Taproot-enabled stage of Bitcoin is just starting. Featured Image by Cooper Baumgartner on Unsplash | Charts by TradingView

Nov 20, 2021 01:25

Bitcoin Multisig Security Options Are Expanding

Emerging apps like Nunchuk 2.0 show that a robust decentralized financial system is being built on Bitcoin with self sovereignty in mind.

Nov 12, 2021 01:30

Multisig Setup Saves Bitcoin Stack from Home Burglary

Even though burglars managed to steal the victim’s hardware wallet, his funds were still safe because of his multisig setup.

Feb 21, 2024 01:25

What Is Multisig?

Why multisig is the best approach for long-term cold storage for most people, and how to make the most of it for your generational wealth.

Feb 15, 2024 05:50

Singlesig vs. Multisig: Bitcoin Self-custody Approaches Compared

If you want to remove custodial risk from your bitcoin holdings, you must take self-custody. Bitcoin custody is determined by whoever has the keys to control the bitcoinif you arent holding the keys to your bitcoin, then someone else is. As the saying goes, not your keys, not your coins. Once someone decides that they [...]

The post Singlesig vs. Multisig: Bitcoin Self-custody Approaches Compared appeared first on Crypto Breaking News.

Mar 18, 2023 06:55

Vitalik Buterin Emphasizes Importance of Varied Guardians for Crypto Wallet Safety


Ethereum co-founder Vitalik Buterin has highlighted the importance of having a diverse group of "guardians" for maximizing the safety of self-custody crypto assets via multisig and social recovery wallets. Buterin advised decentralizing wallet guardians, so that if the wallet owner disappears, there are enough other guardians left to recover their funds. He also recommended using guardians who can respond quickly to suit fast-moving needs and testing each guardian at least once a year to confirm they haven't lost their accounts. (Read More)

Diversified set of guardians required for safe self-custody: Vitalik Buterin

Author: Cointelegraph By Brian Quarmby
United States
Mar 18, 2023 08:20

Diversified set of guardians required for safe self-custody: Vitalik Buterin

In a Reddit post, Buterin emphasized that having too much of a concentrated grasp of your self-custody wallets can be a bad thing if you get “hacked, coerced, or incapacitated or die.”

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