Fireblocks Reveals Massive Vulnerability Affecting Crypto Wallets

Fireblocks said the vulnerabilities affecting Coinbase, Binance, and Zengo have since been patched and reached over 12 more people still at risk.< /p> News Join us on social networks

More than 15 widely used crypto wallet providers and projects have gaping vulnerabilities that could potentially lead to the depletion of millions of crypto wallets, according to digital asset infrastructure firm Fireblocks.

In an August 9 press release, Fireblocks said the series of vulnerabilities, dubbed BitForge, affects wallets using Multi-Party Computing (MPC) technology, which allows multiple parties to control and manage cryptocurrency holdings. cryptocurrency.

1/ The Fireblocks research team discovered BitForge, a set of vulnerabilities in some of the most widely adopted MPC protocols that allow an attacker to retrieve a private key from from a single device. Read more → https://t.co/xo2r9zgCvj pic.twitter.com/7q1nEeVBwO

The issues identified were disclosed as zero-day vulnerabilities, meaning the flaws had not been previously identified by the projects.

"If left unaddressed, the exposures would allow attackers and malicious insiders to tap into the wallets of millions of retail and institutional customers in seconds, without the knowledge of the user or provider ."

The company revealed that BitForge vulnerabilities affected many of the major wallet providers, including Coinbase, Zengo, and Binance. Following an industry-standard "90-day disclosure period" of Fireblocks, all three companies have since resolved the identified issues.

In a statement, Coinbase Chief Information Security Officer Jeff Lunglhofer thanked Fireblocks for responsibly identifying and disclosing the issue, adding that Coinbase customers and funds were never in danger....