On February 22nd, Beijing time on the evening of February 21st, the cryptocurrency exchange Bybit's assets worth 1.50 billion US dollars were stolen due to the ETH multi-signature wallet transfer attack, which is the largest hacker attack in the Web3 industry so far. The crypto industry has been suffering from hackers for a long time, and Xinhuo Technology announced that it will provide MPC wallet security solutions for Bybit free of charge to jointly protect the safety of customer funds.
By using MPC-TSS (Muti-Party Computation-Threshold Signature Scheme) technology, Xinhuo Technology's MPC wallet solution supports users to manage private key sharding and collaborative signatures in a distributed manner, without relying on a single centralized institution, and supports T-N threshold signature settings (such as 3-3 multi-party signature scheme), eliminating the risk of traditional private key custody. At the same time, it solves the single-point risk of private keys, truly allowing users to achieve safe self-custody of assets. Up to now, Xinhuo Technology's MPC wallet security solution has provided products and services for many well-known trading platforms and institutions in the industry.
New Fire Technology announced that it will provide MPC wallet security solutions to Bybit free of charge
2025-02-22 06:10:16
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