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Fireblocks Discovers Vulnerability in BitGo’s TSS Wallet

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Fireblocks Discovers Vulnerability in BitGos TSS Wallet

According to reports, the digital asset security platform Fireblocks has discovered a serious vulnerability in the Threshold Signature Scheme (TSS) wallet of BitGo, a cryptocurrency hosting company, which exposes its users’ private keys to the risk of being attacked by potential hackers. It is reported that BitGo immediately suspended the affected wallet service in December 2022 after learning of the vulnerability, which is known as the “BitGo Zero Proof Vulnerability”. The company subsequently released a patch in February 2023 to address the labeling issue and notified customers to update their systems by March 17. （The block）

Fireblocks reported a vulnerability in the BitGo TSS wallet, which has been fixed

Analysis based on this information:


Fireblocks, a digital asset security platform, has discovered a significant vulnerability in the Threshold Signature Scheme (TSS) wallet of BitGo, a cryptocurrency hosting company. The flaw exposes users’ private keys to possible cyber-attacks from hackers, putting their digital assets at risk. Upon learning of the vulnerability, BitGo immediately suspended their affected wallet service in December 2022 and released a patch in February 2023 to fix the issue, which was named “BitGo Zero Proof Vulnerability.” To mitigate the risk, BitGo urged its customers to update their systems by March 17.

This discovery is noteworthy for several reasons. First, BitGo is a reputable cryptocurrency hosting company that has been providing security services to customers since 2013. As such, the fact that there was a flaw in their system is a wake-up call to other companies in the industry, highlighting the need for continuous security updates and testing. Second, the vulnerability found by Fireblocks, the TSS wallet, is a popular feature in the cryptocurrency world that offers multi-party computation, which enhances security. Therefore, the discovery indicates that even advanced features that are widely used and trusted in the industry are not immune to potential hackers.

Furthermore, this report shows a proactive approach by BitGo in addressing the issue by immediately suspending the affected wallet service, providing a quick fix, and notifying their clients about the situation. It demonstrates the importance of transparency and swift action in addressing cybersecurity breaches, diminishing the potential fallout from such incidents.

To summarize, Fireblocks’ discovery of the BitGo Zero Proof Vulnerability highlights the risks associated with digital asset security, regardless of the company’s reputation or the features used in their systems. It emphasizes the critical importance of regular security updates and testing in the cryptocurrency industry. As cyber threats become ever-increasing, we can anticipate that evaluating the security measures of digital asset companies continually will become more critical.

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