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Fireblocks, a digital asset infrastructure company, has found vulnerabilities in popular crypto wallets like Coinbase, Binance, and Zengo. These vulnerabilities, named BitForge, targeted wallets using multi-party computation (MPC) technology, which allows multiple parties to manage crypto holdings.
The zero-day flaws, previously unknown, could potentially enable attackers to drain funds from millions of users' wallets in seconds. Coinbase, Zengo, and Binance have all fixed the issues after Fireblocks' disclosure.
Fireblocks has also identified other potentially affected firms and is reaching out to them. The vulnerabilities in MPC wallets could have allowed hackers to access complete private keys by compromising a single device.
Fireblocks' CTO and co-founder, Pavel Berengoltz, stressed the importance of collaboration with security experts to mitigate vulnerabilities and stay ahead of risks in the digital asset industry, especially for companies using Web3 technology.
The zero-day flaws, previously unknown, could potentially enable attackers to drain funds from millions of users' wallets in seconds. Coinbase, Zengo, and Binance have all fixed the issues after Fireblocks' disclosure.
Fireblocks has also identified other potentially affected firms and is reaching out to them. The vulnerabilities in MPC wallets could have allowed hackers to access complete private keys by compromising a single device.
Fireblocks' CTO and co-founder, Pavel Berengoltz, stressed the importance of collaboration with security experts to mitigate vulnerabilities and stay ahead of risks in the digital asset industry, especially for companies using Web3 technology.
