Cryptocurrency News

Multisigs mean funds in bridges are ‘one small slipup’ from being hacked

07/01/2022

Less than a minute

2022.07.01 10:41

Multisigs mean funds in bridges are ‘one small slipup’ from being hacked

The recent exploit on Harmony’s Horizon Bridge revealed the inherent flaws with multisig admin keys that leave projects and their users “one small slipup” from deep trouble.

Two crypto project leads expressed their concern that the expansion of the multi-chain ecosystem could be hampered by the use of multisig contracts due to the dangers they pose with bridges keeping crypto funds safe.

07/01/2022

Less than a minute

Leave a Reply Cancel reply

You must be logged in to post a comment.

Bitcoin (BTC) $ 103,877.83 2.55%

Ethereum (ETH) $ 3,863.32 2.04%

Tether (USDT) $ 1.00 0.00%

XRP (XRP) $ 2.44 6.69%

BNB (BNB) $ 713.04 2.11%

Solana (SOL) $ 216.49 3.80%

Dogecoin (DOGE) $ 0.383941 4.15%

USDC (USDC) $ 1.00 0.11%

Lido Staked Ether (STETH) $ 3,849.54 2.43%

Cardano (ADA) $ 1.02 5.43%

TRON (TRX) $ 0.272193 4.86%

Avalanche (AVAX) $ 46.33 6.02%

Chainlink (LINK) $ 27.35 1.06%

Wrapped stETH (WSTETH) $ 4,589.47 2.01%

Shiba Inu (SHIB) $ 0.000026 4.77%

the-open-network

Toncoin (TON) $ 5.70 4.41%

wrapped-bitcoin

Wrapped Bitcoin (WBTC) $ 103,604.76 2.42%

Sui (SUI) $ 4.58 2.61%

Stellar (XLM) $ 0.421272 4.84%

Polkadot (DOT) $ 8.20 5.36%

hedera-hashgraph

Hedera (HBAR) $ 0.293547 4.40%

WETH (WETH) $ 3,863.61 1.98%

Bitcoin Cash (BCH) $ 516.91 3.06%

Uniswap (UNI) $ 15.59 2.24%

LEO Token (LEO) $ 9.68 1.16%

Pepe (PEPE) $ 0.000021 7.16%

Litecoin (LTC) $ 116.20 0.04%

Hyperliquid (HYPE) $ 24.71 7.81%

NEAR Protocol (NEAR) $ 6.14 9.75%

Wrapped eETH (WEETH) $ 4,061.27 2.32%

Aptos (APT) $ 12.83 3.57%

Ethena USDe (USDE) $ 1.00 0.03%

Bitget Token (BGB) $ 4.16 8.36%

internet-computer

Internet Computer (ICP) $ 11.89 4.03%

Aave (AAVE) $ 368.73 1.14%

USDS (USDS) $ 1.00 0.02%

crypto-com-chain

Cronos (CRO) $ 0.185659 4.01%

Ethereum Classic (ETC) $ 31.50 4.12%

polygon-ecosystem-token

POL (ex-MATIC) (POL) $ 0.547661 6.04%

VeChain (VET) $ 0.054085 6.02%

Render (RENDER) $ 8.31 5.63%

Artificial Superintelligence Alliance (FET) $ 1.58 3.47%

Monero (XMR) $ 220.45 0.95%

Mantle (MNT) $ 1.17 4.11%

Arbitrum (ARB) $ 0.93452 3.66%

Bittensor (TAO) $ 522.69 1.45%

MANTRA (OM) $ 4.08 4.67%

Filecoin (FIL) $ 6.06 5.61%

WhiteBIT Coin (WBT) $ 24.98 1.67%

Kaspa (KAS) $ 0.137492 2.99%