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  3. /Multisig Attack
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cryptocurrency

Multisig Attack

An exploit targeting multisig wallets, either through social engineering signers, compromising enough keys to meet the threshold, or exploiting bugs in the multisig contract itself.

Definition

An exploit targeting multisig wallets, either through social engineering signers, compromising enough keys to meet the threshold, or exploiting bugs in the multisig contract itself. The 2017 Parity multisig hack and the 2022 Ronin bridge hack (compromised 5 of 9 signers) are notorious examples.

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Related Terms

Multisig Wallet

A wallet that requires multiple private keys to authorize a transaction, like needing 3 out of 5 keyholders to sign.

Social Engineering

Manipulating people into revealing confidential information or taking actions that compromise security.

Smart Contract Exploit

Any attack that takes advantage of bugs or vulnerabilities in smart contract code.

Address Poisoning

A scam where attackers send tiny transactions from addresses that look similar to ones you've interacted with, hoping you'll accidentally copy the wrong address from your transaction history.

AI x Crypto

The intersection of artificial intelligence and blockchain technology.

Airdrop

A marketing strategy where crypto projects distribute free tokens to wallet addresses.

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