Cryptocurrency wallet BitGo has patched a critical vulnerability that could have exposed the private keys of retail and institutional users.the flaw and notified the BitGo team in December 2022. The vulnerability was related to BitGo Threshold Signature Scheme wallets and had the potential to expose the private keys of exchanges, banks, businesses and users of the platform.
The Fireblocks team outlined how it identified the exploit using a free BitGo account on mainnet. A missing part of mandatory zero-knowledge proofs in BitGo’s ECDSA TSS wallet protocol allowed the team to expose the private key through a simple attack.Industry standard enterprise-grade cryptocurrency asset platforms make use of either multi-party-computation or multi-signature technology to remove the possibility of a single point of attack.
A compromised client-side user could initiate a transaction to acquire a portion of the private key held in BitGo’s system. BitGo would then perform the signing computation before sharing information that leaks the BitGo key shard.
The BitGo Threshold Signature Scheme (TSS) wallet is designed to provide a high level of security for its users, so any flaw in the system can be a cause for concern. It's important for companies and users to take proactive measures to ensure their security.
Exposing private keys....OOOOFF just close the business now TBH. That's such an egregious error as to indicate they are wreckless and flippant with security concerns. Could be wrong.
FireblocksHQ
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