"BlockChain Security Launches Next-Generation 'Cryptocurrency/Virtual Asset
Custodial' Vault/Safe Box Resistant to Quantum Attacks"
BlockChain Security has unveiled its new generation 'Cryptocurrency/Virtual
Asset Custodian vault safe box, combining state-of-the-art post-quantum
cryptography (PQC) resistance through FrodoKEM algorithm and multi-signature
technology with key fragments stored in a dongle chip. This dual-layer security
provides users with a more convenient and secure way to withdraw and manage
their cryptocurrency assets. The company also offers APIs to all developers in
need of building wallets, enabling them to integrate virtual asset wallets and
key protection into their existing applications. Since its inception, BlockChain
Security has been dedicated to creating immutable and irrefutable blockchain
evidence applications, assisting nations in constructing judicial alliance
chains. The company has also introduced products like crypto triage -a
cryptocurrency tracing & anti money laundering (AML), and evidence collection
uploads for law enforcement and relevant enterprises. With the widespread
adoption of Web 3.0 applications in the future, the virtual asset circulation
mechanisms underlying the economy will thrive even more. Consequently,
BlockChain Security has expanded its offerings from the blockchain to the
cryptocurrency field by providing the Vault/Safe Box product.
Embracing the Metaverse, the future will see a significant increase in corporate
or individual digital assets.
With advancements in Metaverse technology and NFT business models, virtual assets
are expected to accumulate exponentially. Therefore, the storage of virtual
assets will become increasingly crucial. The conventional single-signature
architecture of wallets poses a significant risk of private key theft, loss, or
hacking. Storing cryptocurrencies on exchanges also exposes assets to security
risks, such as exchange misuse or hacking incidents. Cryptocurrency wallets are
essential tools for asset storage for holders of virtual assets. Currently,
wallets can be categorized into online "hot" wallets and offline "cold" wallets.
Hot wallets, being connected to the internet, are at higher risk of hacking, and
storing wallet keys on exchanges may lead to funds being misused. On the other
hand, cold wallets, although offline, often use hardware devices from China, and
losing the wallet device and mnemonic phrase could result in asset theft.
BlockChain Security CTO Hung Chi-Heng stated: "M-key Safe Vault primarily
addresses the various challenges encountered by enterprises when storing
cryptocurrencies, with the most significant one being private key security.
M-key vault is a multi-signature core vault, allowing multiple users to define
fragments and dynamically combine them to generate private keys instantly. Every
wallet's private key is derived from user-defined source fragments combined with
patented algorithms, thereby avoiding concerns about the origin of potentially
compromised wallets upon production. That's why we named this product 'M-Key'."
The Best Choice for Enterprise Cryptocurrency Asset Custody, Thoughtfully
Designed for Practical Scenarios
The "M-key Safe Vault," developed by BlockChain Security Corp., Ltd., is the
first in Taiwan to adopt anti-quantum computer calculation models for
safeguarding private keys, providing effective defense against quantum computing
network attacks. The vault is designed with the user's perspective in mind,
creating an interface that fits the logic of online banking, including account
overview inquiries, whitelisting settings, and transaction history inquiries,
making it easy for enterprises new to cryptocurrency storage and transactions to
To avoid the problem of private key loss, BlockChain Security has introduced the
exclusive "Customized Private Key" feature, allowing users to define the
smallest unit of the private key themselves. This unit can be anything, such as
song or an image, or a digital signature, serving as a unique source fragment
for the key. The actual private key is only synthesized at the moment of
approval through an exclusive and irreversible algorithm, ensuring that the user
retains control over the source fragments. As the vault system doesn't possess
any private keys, it eliminates the risk of being hacked. Administrators can
achieve a zero-trust security mechanism by employing FIDO protocols for identity
verification and binding biometric fingerprints.
M-key Safe Vault initially supports fourteen commonly used chains, allowing users
to choose the cross-chains wallets they want to include in the vault from the
beginning. Users can set up multiple vaults, such as Vault A containing Ethereum
and Solana wallets, and Vault B containing Avalanche and Optimism wallets. This
enables users to manage multiple virtual assets across various chain, assigning
different assets to different personnel. The vault supports various mainstream
mainnet coins and their contract tokens, including common NFTs (ERC721 /
ERC1155), all of which can initiate multi-signature approvals.
Regarding withdrawals, M-key Safe Vault allows users to set up a multi-level
threshold management system based on actual scenarios. Users can define various
approval personnel at each level, and a "M out of N" consensus signature
mechanism is adopted. The signing devices can be linked to hardware dongles,
desktops, laptops, or mobile phones, eliminating concerns about delays due to
personnel issues. Once a transaction request is submitted, details of the
applicant, approvers, time, and levels are recorded, allowing real-time tracking
of the approval progress.
M-Key Safe Vault: The Optimal Solution for Safeguarding Critical Virtual Assets
for Nations and Enterprises
As cryptocurrency scams continue to grow, law enforcement agencies in our country
face an increasing need to seize and secure illegal cryptocurrencies.
Consequently, constructing a secure custody vault and a wallet that aligns with
on-site seizure processes has become a critical issue. Assistant Professor Shi
Zhihong from Central Police University commented, "BlockChain Secruity's new
product, M-key Safe Vault, offers an innovative solution from an evidence
preservation perspective, addressing both technical and human aspects. On the
technical side, M-key Safe Vault makes multiple breakthroughs in algorithm
encryption technology, making it difficult for hackers to infiltrate. The
multi-layered key design solves the key management problem for virtual assets."
M-key Safe Vault is a secure vault system that can be deployed in a country's
private cloud. It has a complete key fragment synthesis and backup mechanism,
effectively addressing various cybersecurity concerns related to the seizure and
transfer of cryptocurrency assets.
M-key Safe Vault comes with a comprehensive and rigorous backup mechanism,
eliminating worries about fragment loss during key generation. Consequently,
mnemonic phrases are unnecessary, avoiding the risk of mnemonic phrase theft.
The backup and transfer of key fragments require a formal application process
and must undergo multi-signature approval by key encryption backup
administrators before they can be transferred to new users. Currently, the
first-generation vault is launched in both On-Premises and cloud-based product
solutions, supporting API mode for government/enterprise self-built vaults and
app developers. The possibility of introducing a SAS mode will be assessed in