On February 22, on the evening of February 21, Beijing time, the assets worth US$1.5 billion were stolen due to ETH multi-signment wallet transfer attack, which was the largest hacker attack in the Web3 industry so far. The encryption industry has been suffering from hackers for a long time, and Xinhuo Technology announced that it is willing to provide Bybit with MPC wallet security solutions for free to jointly protect the security of customer funds. Xinhuo Technology MPC wallet solution adopts MPC-TSS (Muti-Party Computation-Threshold Signature Scheme) technology to support users to manage private key sharding and collaborative signatures in distributed manner, and does not rely on a single centralized organization, and supports T-N threshold signature settings ( For example, the 3-3 multi-party signature scheme) eliminates the risk of traditional private key storage, and solves the risk of single-point private keys, truly allowing users to achieve secure self-custody of assets. Up to now, Xinhuo Technology MPC wallet security solutions have provided products and services to many well-known trading platforms and institutions in the industry.