.FireblocksHQ says it has discovered a set of critical software vulnerabilities impacting some of the leading MPC wallet providers. skesslr reports
The firm has classified BitForge as a “zero-day” – meaning the vulnerabilities hadn’t been discovered by developers of the affected software prior to disclosure from Fireblocks.
“If left unremediated, the exposures would allow attackers and malicious insiders to drain funds from the wallets of millions of retail and institutional customers in seconds, with no knowledge to the user or vendor,” Fireblocks said in a statement shared with CoinDesk. Wallets that use MPC encrypt a user’s private key and split it across several different parties – typically some combination of a wallet user, a wallet provider, and a trusted third party. In theory, no single one of these entities can unlock the wallet without help from the others.
The steps from there would depend on the wallet. The BitForge vulnerabilities were present in several popular research papers that describe how to build MPC systems, and different wallet providers will have implemented this research differently.
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