mpc

ViaBTC mining pool and CoinEx trading platform founder and CEO Yang Haipo posted on X, commenting on the Binance security incident. He stated that the incident exposed at least three avoidable mistakes, which do not require complex technology; what is lacking is discipline.Yang Haipo pointed out that first, the development and operation environments were not completely isolated. Personnel with production environment permissions should use dedicated devices and not install third-party software; coding, chatting, and web browsing should be done on another device. Second, the operation and maintenance system lacked effective dual verification. A single key could operate production services, and once the key was leaked, attackers could gain full production access. He believes that production operations could be conducted in a manner similar to AWS browser-based Session Manager, using hardware security keys as a second factor to prevent a single credential leak from constituting a breach. Third, MPC multi-signature is merely nominal; the signers did not perform substantial independent verification of the transactions. Compromising one node could render the entire mechanism ineffective, resulting in the same effect as a single signature. Multi-signature is only effective when the signers do not trust each other, independently verify the transaction itself, rather than trusting upstream requests.On November 3, Binance released preliminary investigation results regarding the security incident on October 29. Binance stated that approximately $6.34 billion in digital assets were affected, and as of the update, about $2.85 billion had been frozen or intercepted, with 98% of the affected tokens having been replenished. The report indicated that attackers gained unauthorized access to the internal wallet signature service and exploited Ethereum EIP-7702 to authorize the hot wallet; due to the hot wallet using multi-party computation, it could not immediately revoke the relevant authorization with a single private key. Binance cited information from the FBI stating that North Korea is responsible for this incident.

On-chain researcher Zeeme posted a lengthy analysis on X, explaining why hackers can attack Binance, Bybit, and Bitget, but find it difficult to breach Coinbase. He stated that Coinbase holds approximately 959,000 BTC, worth about $10.33 billion, and has not suffered such attacks in 14 years.Zeeme indicated that most exchanges concentrate billions of dollars in a few hot wallets for quick withdrawals; Coinbase, on the other hand, employs multi-party computation (MPC) technology, where the complete private key never exists on disk or in memory. Each key is split into shards upon generation and stored on isolated hardware chips.He compared that in October, after hackers compromised a DevOps personnel's computer at Binance and hijacked hot wallet signatures, they transferred approximately $6.36 billion within 20 minutes; whereas at Coinbase, even if they breach an engineer's computer, they can only obtain a useless shard of the key.Additionally, Zeeme later corrected that the approximately 69.8 million addresses mentioned in the post are Coinbase's deposit addresses, not the wallets holding funds, as Coinbase also has both hot and cold wallets.

The founder of the cryptocurrency trading platform Gate, Han Lin, published an article sharing thoughts on fund security, proposing the Vault solution. The core principle is to prevent any party from having the ability to unilaterally access the funds. The private key is split into three shards through MPC, held respectively by the user’s device, Gate, and a disaster recovery party. The complete private key will not appear in any single location.Han Lin stated that since 2026, there have been over 600 security incidents, resulting in losses exceeding 8 billion dollars. In September alone, the losses amounted to 768 million dollars, and October is not yet over, with monthly losses already exceeding 6 billion dollars. More than 60% of the losses in the first half of the year were due to private key breaches and phishing, while code vulnerabilities accounted for just over 10%. In October, a hardware implant attack targeting distribution channels caused users to lose nearly 100 million dollars.The solution sets a 48-hour delay for Vault withdrawals, during which users can freeze their accounts at any time. If a user’s device is lost or the backup password is forgotten, Gate and a third party can assist in recovery after the user completes identity verification. If Gate services are unavailable, users can use device shards combined with third-party shards to recover assets through open-source tools. Han Lin expressed that the platform is willing to open up this architectural idea and the real user scenarios encountered for discussion among peers.

Google has launched a Multi-Party Computation (MPC) custody platform aimed at banks and financial institutions to protect cryptocurrencies and tokenized assets. The platform disperses shares of private keys across different environments, preventing any single participant from having complete control over the private key; before transaction signing, it can also verify spending limits, approved addresses, and multi-party authorization requirements according to institutional rules.This service is currently in a private preview phase and is planned to be commercially available in early 2027. Google stated that several large financial institutions are participating in the testing; Alphabet has used this technology to protect its digital assets on Solana and Ethereum, but has not disclosed the list of held assets or testing institutions.

According to CoinDesk, Google will launch its Google Multi-Party Compute (MPC) security service at the first digital asset seminar held in New York on Wednesday, helping financial institutions such as banks to store and transfer cryptocurrencies and tokenized assets.The product is currently in a private preview phase, with several financial institutions testing it. Its parent company, Alphabet, has used it to protect its digital assets on Ethereum and Solana, with plans for commercial use in early 2027, and pricing has not yet been disclosed. The system splits private keys into multiple shards, which are stored across different systems, requiring checks against pre-set institutional rules before transaction signing, and supports ECDSA and Ed25519 algorithms.

The digital asset post-quantum security infrastructure company Project Eleven announced the acquisition of Riva Labs to enhance its capabilities in post-quantum signatures, wallets, multi-party computation (MPC), and account abstraction. This acquisition also includes the technology and intellectual property developed by Riva on Ethereum and other public chains.Riva Labs' work encompasses hash-based post-quantum signatures, post-quantum MPC, account abstraction, wallet infrastructure, and hardware signing, and has demonstrated post-quantum signatures on consumer-grade hardware. Project Eleven stated that the relevant teams and technologies will be integrated into its research and product work in post-quantum cryptography, digital asset custody, and blockchain security. Riva will also bring its practices of using artificial intelligence in research and engineering processes into the company.Project Eleven's CEO and co-founder Alex Pruden stated that the acquisition will strengthen the research and engineering teams and accelerate the transition of digital assets to post-quantum security. Riva Labs co-founder Matteo Vena mentioned that both parties share a similar judgment on the tools needed in the industry, and joining Project Eleven will allow for a larger-scale advancement of public chain upgrades.

ViaBTC founder and CEO Yang Haibo stated: CoinEx is shutting down, but its hot wallet system is still relatively advanced and worth referencing in the industry. He introduced that CoinEx has implemented an MPC-based dual-signature scheme for its hot wallet to eliminate single points of failure.Yang Haibo mentioned that the relevant infrastructure is split into business systems and wallet systems, operated by completely independent teams, each holding one private key. Every withdrawal or transfer must be reviewed in real-time through substantial risk control by both parties, and even if one system is compromised, assets cannot be stolen.He added that the wallet signing process needs to be independently implemented and cannot rely on the native mechanisms of each node, which requires extensive reconstruction. The team spent over a year transforming the vast majority of nearly 300 chains supported by CoinEx one by one.

Coinbase Chief Cryptographer Yehuda Lindell stated on the MARA Foundation TV program that the exchange is designing a custody system capable of adapting to any post-quantum signature scheme that Bitcoin may adopt in the future. It is currently unclear which post-quantum signature scheme Bitcoin will use in practical applications. Lindell believes it is unlikely that a single signature scheme will be universally adopted, so preparations must be made for different outcomes across various blockchains.Coinbase is custodian for approximately $250 billion in assets for institutions such as BlackRock. Traditional Multi-Party Computation (MPC) relies on key sharding, but many post-quantum signature schemes may be "not friendly to MPC"; for example, hash-based signatures lack the arithmetic structure required for traditional cryptographic key splitting. Although cryptographers like Dan Boneh are researching relevant solutions, this research is still in a highly experimental phase, and it remains uncertain whether a viable MPC-like solution for hash signatures can be developed.To this end, Coinbase is exploring a backup architecture centered around programmable Hardware Security Modules (HSM), where private keys will be encrypted with post-quantum cryptography and assembled only within physically secure HSMs. Lindell stated that while the completion timeline is uncertain, once finished, "I will be able to say, I can support any scheme," without worrying about a blockchain adopting a signature scheme that it cannot support.

realtrumpcoins issued a statement claiming that the news regarding the launch, promotion, or authorization of Trump Coins to issue digital tokens is "completely false," and the related information is a malicious act by a third party.The statement emphasized that Trump Coins has never authorized any digital tokens and will not launch, promote, or authorize any digital tokens in the future. Currently, it is cooperating with relevant law enforcement agencies to investigate this matter and seek accountability from those involved.Earlier reports indicated that the meme coin GOLD was created on Solana yesterday at 7:38, with the related address controlling over 82% of the tokens through token distribution and purchases after the launch. Around 9 o'clock, the merchandise collaboration account @realtrumpcoins1 tweeted containing the GOLD contract address, causing the token's market value to briefly surge to $66 million.Around 11:48, the tweet was deleted, and the related address immediately began to sell off its holdings. The market value of GOLD plummeted from $55 million to $1 million in about 30 seconds, after which the scam operators continued to sell off their tokens, ultimately selling all their holdings and accumulating a profit of approximately 9784.6 SOL (about $1.01 million).

Binance co-founder He Yi stated that Binance Wallet currently accounts for about 75% of the overall wallet transaction volume, processing over $13 billion in transactions daily. The wallet uses a Multi-Party Computation (MPC) architecture to enhance asset security and account recovery capabilities, and integrates features such as error address protection, potential malicious contract warnings, and high-risk token/network alerts.He Yi mentioned that the future direction of self-custody development is not only to improve security strength but also to make security usage more intuitive at the product design level.

Sui posted on platform X, stating that institutions will not choose to settle on infrastructure where competitors can see pricing and trading volume. The public amounts on most blockchains have been a barrier to actual commercial settlements.Mysten launched a new prototype that addresses the issue of amount privacy. This prototype is built on Seal MPC and confidential transfers.

According to GoPlus monitoring, the hacker group TeamPCP claims to have obtained the source code from about 4,000 private repositories within GitHub and is selling it for $50,000 on underground forums, offering sample verification. If no one buys it, this batch of data may be publicly released for free later.Previously, GitHub officials confirmed that they are investigating the issue of "unauthorized access to internal repositories," suspecting that malicious VS Code/AI Coding plugins were installed on GitHub employee devices.

The live prediction market and meme coin issuance platform Pumpcade announced the completion of a $5 million seed round financing, with participation from Jump Crypto and Foundation Capital.According to reports, Pumpcade is built on Solana and supports one-click creation of prediction markets in live streaming scenarios, integrated into the Pump.fun chat system. Previously, Pump.fun participated in its $1 million pre-seed financing.

According to GMGN monitoring, the market capitalization of the Solana ecosystem token PUMPCADE has been rising for several days, with a significant surge last night and this morning, reaching a high of 45 million USD, currently reported at 40.6 million USD, with a 24-hour increase of 41%, and a trading volume of approximately 3.1 million USD during the same period.Meme coin trading is highly volatile, largely relying on market sentiment and speculative concepts, with no actual value or use cases, so investors need to be aware of the risks.

According to GMGN monitoring, the market capitalization of the Solana ecosystem token PUMPCADE has reached a new high, briefly touching 21.1 million USD, and has now retreated to 18.55 million USD, with a 24-hour increase of 45%.It is reported that this token comes from the Pumpcade project, which is a prediction market built on Pump.fun. It won third place in the hackathon competition held in March and thereby secured a 250,000 USD investment from the Pump Fund.

The live prediction market platform Pumpcade has completed a $1 million Pre-Seed round of financing, led by Pump.fun, with participation from Foundation Capital and angel investor RadioSolace. The company plans to use this funding to expand its engineering team and execute marketing strategies in preparation for ending internal testing.Pumpcade allows users to create prediction markets embedded in live streams with one click, supporting markets that can be resolved in minutes or seconds.

According to GMGN monitoring, the market capitalization of the Solana ecosystem token PUMPCADE continues to rise, increasing by another 30% in the past 2 hours, reaching a peak of 15.1 million USD, currently reported at 14.75 million USD, with a 24-hour increase of 33%.It is reported that this token comes from the Pumpcade project, which is a prediction market built on Pump fun. It won third place in the hackathon competition held in March, thereby earning a 250,000 USD investment from Pump Fund (the investment department of Pump.fun).

Binance has issued a security alert, as there have been multiple asset security incidents in the community recently due to device environment issues, reminding users to pay attention to the security of their private keys/seed phrases.The Binance wallet's keyless mode is based on MPC-related technology, which stores key shards in different independent environments, further enhancing the security of asset management and effectively reducing the risk of key leakage and attacks.

Binance Wallet core developer Jackson ll posted that the MPC wallet related to AI Agent, DeFi wealth management, and other features has entered the security audit phase, "It must be reminded that caution is key, safety first."Yesterday, news broke that Binance Wallet announced the first batch of 7 AI Agent Skills, focusing mainly on market data analysis, risk assessment, and trade execution, aiming to provide a standardized Binance-level intelligence interface for AI agents.