Flaw in Bitcoin SV Multisig Wallet Puts Funds at Risk

Today, 13% of Bitcoin is protected by multisig technology. A growing minority of Bitcoin users employ a multi-signature wallet, which uses more than one private key to access the wallet. By using this approach, wallets are much less vulnerable to security breaches, as no single party possesses all the information necessary to decrypt the wallet. Princeton professor Arvind Narayanan tweeted about the significance of the multisig uptick: More cryptocurrency wallets offering multisig support. More Bitcoin wallet providers have recently enabled multisig functionality, as it seems to be headed....

Bitnation decides to begin its crowd sale now and set up a multisig later. Revealed on October 28th in an interview with Bitnation leadership, Bitnation begins its crowdsale before setting up a multisig wallet. The funds are going to a single key address owned by Bitnation CEO Susanne Tarkowski Tempelhof. Tempelhof was interviewed by Andreas Antonopoulos, Stephanie Murphy, and Adam Levine from the Let’s Talk Bitcoin (LTB) team in Episode #157. Andreas and Stephanie asked why Bitnation chose not to set up a multisig wallet for securely managing company funds, and instead launched their....

Times have been busy in the bitcoin wallet world lately. Two hardware wallets - Trezor and BTChip - have finally shipped, and wallet security continues to mature. In spite of all this, though, people who should know better are still being robbed because they fail to add more protection to their bitcoin holdings. To tackle the issue of bitcoin wallet vulnerabilities, it's important to look at the security protections that are currently available for wallets, and to explore what work still needs to be done in the future. Multisig. 2014 was to be the year of multiple signatures (multisig),....

Even though burglars managed to steal the victim’s hardware wallet, his funds were still safe because of his multisig setup.

For those of you following the developments of Copay, an open-source multi-signature wallet in development by BitPay, some new information is coming our with regard to its capabilities. Specifically, the information relates to asynchronous multisig capabilities. Now, just in case you're not familiar, Copay allows the transmission of funds from a wallet once all copayers sign a transaction (the amount of copayers is chosen when the wallet is set up). But in order for this to have happened, all copayers were required to be online in order to spend the bitcoin. That, of course, is a minor....