BIT Releases “Trust Whitepaper” V2.0, Disclosing Multi-Layered Security and Risk Control Mechanisms

TREE NEWS reports: Global digital financial services platform BIT (formerly Matrixport) has released the “BIT Trust Whitepaper” V2.0, disclosing its security system that establishes multiple layers of isolation between identity, permissions, operations, and assets: critical operations require the joint participation of at least two authorized personnel, the majority of digital assets are stored in cold wallets, and the security team holds veto power over major risks. Earlier in early September, the Bitcoin sidechain Liquid Network suffered an attack in which the attacker exploited a verification vulnerability in the Elements software to transfer out approximately 4,000 BTC, worth about $320 million at the price at the time of the incident, while the related PAK and Federation keys were not compromised.