CoinEx Founder discloses hot-wallet dual-signature architecture during exchange shutdown
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AT A GLANCE
Yang Haipo stated that it CoinEx adopts MPC-based MPC hot wallet dual signatures and independent dual-system risk controls to reduce the risk of a single point of compromise.
Article
CoinEx Founder: The hot-wallet dual-signature architecture is worthy of industry reference; even if a single system is compromised, assets still cannot be stolen
PANews September 25 reported that CoinEx CoinEx founder Yang Haipo wrote that CoinEx although CoinEx is shutting down, its hot-wallet system remains relatively advanced and is worth other industry practitioners studying and learning from.CoinEx It uses an MPC dual-signature solution to manage hot wallets and eliminate single points of failure. Its infrastructure consists of fully independent systems—the business system and the wallet system—each managed by an independent team and each holding private key. All withdrawals or transfers must undergo real-time risk reviews by both systems. Even if system is compromised, attackers still cannot directly steal assets. Yang Haipo said the difficulty of this solution lies in independently implementing the wallet-signing process rather than relying on the native mechanisms of each chain;CoinEx it took 1 years to upgrade, chain by chain, the vast majority of the nearly 300 chains it supports.
PANews reported that CoinEx founder Yang Haipo stated in a post that CoinEx is winding down.
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Yang Haipo stated that CoinEx it uses a MPC-based dual-signature solution to manage hot wallets.
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According to Yang Haipo,CoinEx's infrastructure consists of completely independent systems—the business system and the wallet system—each operated by an independent team and each holding private key.
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Yang Haipo stated that all withdrawals or transfers must undergo real-time risk reviews by systems; even if system is compromised, attackers still cannot directly steal assets.
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Yang Haipo stated that CoinEx over 1 years, it upgraded most of the nearly 300 supported chains, one by one.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This solution divides hot-wallet operations between independent systems and teams. According to Yang Haipo, a transfer cannot be completed by either system alone; it must simultaneously undergo risk reviews on both sides. Therefore, the compromise of a single system does not mean an attacker can directly transfer assets.
Why it matters to readers
The related claims illustrate a design approach for reducing single-point-of-failure risk in hot wallets, which may provide a reference for industry practitioners designing wallet-signing and withdrawal risk-control processes.
A hot wallet is used for routine withdrawals and transfers and generally needs to remain online. Dual-signature approval can be understood simply as requiring both parties to approve an operation; it is intended to reduce the risk arising from the compromise of a single system or private key, but the original text does not demonstrate that this architecture has undergone independent verification.
Risks and unknowns
The evidence is PANews' account of Yang Haipo's post, without the content of Yang Haipo's original post attached.
CoinEx The specific reasons for the closure, timetable, and arrangements for handling user assets have not been disclosed.
The hot-wallet architecture, independence of the systems, and actual security performance lack verification through an independent audit or official materials.
“Nearly 300 chains” lacks an exact count or a list of modifications.
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The original text only states that compromising a single system cannot directly result in asset theft; it does not specify other attack vectors or the overall security boundary.
Related concepts
Hot wallet
A wallet kept connected to the internet for convenience, making it better suited to everyday use cases such as frequent transactions.
