👨🏾💻 Dev corner: what is a multisig wallet?
A normal wallet has one private key. Whoever holds it can move everything.
A multisig needs several keys to approve a transaction, for example 3 out of 5. Steal one key and you still can't move the funds.
But it's only as strong as the people signing. The FBI linked the Oct 29 Binance hack to TraderTraitor, the same North Korean group it blamed for the 2025 Bybit hack, where signers of a multisig wallet were tricked into approving a malicious transaction.
Security in crypto = how many keys, where they live, and who checks what they sign.
$BTC $ETH
📷 Photo: Jozsef Hocza / Unsplash
A normal wallet has one private key. Whoever holds it can move everything.
A multisig needs several keys to approve a transaction, for example 3 out of 5. Steal one key and you still can't move the funds.
But it's only as strong as the people signing. The FBI linked the Oct 29 Binance hack to TraderTraitor, the same North Korean group it blamed for the 2025 Bybit hack, where signers of a multisig wallet were tricked into approving a malicious transaction.
Security in crypto = how many keys, where they live, and who checks what they sign.
$BTC $ETH
📷 Photo: Jozsef Hocza / Unsplash
