Fireblocks has discovered vulnerabilities in crypto wallets based on the MPC protocol
Date: 2023-08-10 Author: Karina Ziganova Categories: BUSINESS, IN WORLD
Fireblocks custodial platform specialists have identified a vulnerability that poses a threat to more than 15 cryptocurrency wallet providers.
According to a press release, a series of vulnerabilities named by BitForge experts affect projects that use confidential computing protocols (MPC). In the event of an exploit, attackers will gain access to users' assets and be able to withdraw funds to any address.
The specialists noted that neither developers nor security-oriented companies had previously known about the identified series of vulnerabilities.
Fireblocks said that BitForge has affected many vendors, including Coinbase, Zengo and Binance. Experts have alerted more than 15 companies to the potential threat as part of the industry-standard "90-day disclosure period." As a result, these three firms solved the identified problems.
Coinbase Chief Information Security Officer Jeff Lunglhofer thanked the firm for finding the vulnerability and helping to improve the security of the ecosystem.
In June 2023, Fireblocks integrated Amazon, Google Cloud and Alibaba Cloud cloud services. Previously, the company signed a partnership agreement with MetaMask.
