Multiple Bugs in Multi-Party Computation - Breaking Cryptocurrency's Strongest Wallets

Explore the vulnerabilities in advanced cryptographic methods used for cryptocurrency wallet security in this 40-minute Black Hat conference talk. Delve into multi-party computation (MPC) and threshold signature schemes (TSS), understanding their implementation in major organizations for distributed, trustless secret key generation and digital signing. Discover how these seemingly powerful techniques can be fragile in practice through a detailed examination of multiple bugs. Learn about enterprise wallets, distributed trust, and various cryptographic concepts including distributed key generation, commitments, threshold secret-sharing, and zero-knowledge proofs. Analyze the attacker model, explore a taxonomy of attacks, and gain insights on the practical implications of using MPC and TSS in cryptocurrency security. Presented by Omer Shlomovits and Jean-Philippe Aumasson, this talk offers valuable lessons on minimizing complexity and critically evaluating academic papers in the context of real-world cryptographic implementations.