1. PixelPlaygroundHome
  2. Web3 News

Safeheron discovers vulnerability in multi-signature wallets

• Web3 News • 124 views

It is reported that Safeheron, a developer of multi-party computing (MPC) wallets, said that some multi-signature wallets could be attacked by Web3 application…

Safeheron discovers vulnerability in multi-signature wallets

It is reported that Safeheron, a developer of multi-party computing (MPC) wallets, said that some multi-signature wallets could be attacked by Web3 applications using Starnet protocol. This vulnerability affects MPC wallets that interact with Starnet applications such as dYdX. Safeheron is working with application developers to fix this vulnerability. （Cointelegraph）

Safeheron, a wallet developer: Some multi-signature wallets can be attacked by Web3 applications using Starnet protocol

Analysis based on this information:


Safeheron, a developer of multi-party computing (MPC) wallets, has discovered a vulnerability that could be exploited by Web3 applications using the Starnet protocol. This vulnerability affects multi-signature wallets that interact with Starnet applications like dYdX. Safeheron has alerted application developers and is working closely with them to patch up the vulnerability.

Multi-party computing is a cryptographic protocol that allows multiple parties to securely process data without compromising the privacy of the data or each other’s inputs. In the case of multi-signature wallets, MPC is used to ensure that multiple parties are required to authorize a blockchain transaction. Basically, to initiate a transaction, multiple parties must authorize the transaction through their respective private keys.

The MPC technology has been seen as a boon for security in the blockchain space, especially for transactions that involve large sums of money. It is said to address the problem of single-point failure, which is common with regular crypto wallets that require a single user to enter their private keys to authorize a transaction.

However, Safeheron has discovered a vulnerability that could put the security of multi-signature wallets at risk. This vulnerability arises when multi-signature MPC wallets are used to interact with Starnet applications like dYdX. The Starnet protocol allows for cross-chain communication between the Ethereum and Solana blockchains.

According to Safeheron, the Starnet protocol allows unauthorized third parties to gain access to the MPC keys of the multi-signature wallets. This means that attackers could potentially bypass the need for multiple signatures and authorize transactions on their own.

Safeheron’s discovery underscores the importance of collaboration between developers to ensure that blockchain technology is secure. Safeheron has alerted application developers about the vulnerability and is working with them closely to fix the issue.

In conclusion, while multi-party computing has been celebrated for its ability to enhance security in the blockchain space, Safeheron’s discovery shows that there is always room for improvement. It also shows that it is not enough to rely on technology alone to secure blockchain transactions. Collaboration between developers is crucial in safeguarding the integrity of blockchain applications.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/8710/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/09/2023 13:10
Next 03/09/2023 13:22

Recommended articles