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$305 Million Hack of Japanese Exchange Rings Alarm Bells; SQHWYD Adopts Multi-Party Computation Sharding to Build Zero-Trust Architecture
LOUISVILLE, Ky. - JerseyDesk -- Gideon Cohen, Founder of blockchain security auditing giant Halborn and Security Advisor to SQHWYD GLOBAL Ltd., issued a stern warning today: in an age of industrialized hacking, traditional single-private-key wallets are no longer safe.
Cohen cited the May 2024 DMM Bitcoin hack, which resulted in a loss of approximately $305 Million in Bitcoin. "If you are betting hundreds of millions of dollars in assets on a single string of characters, that in itself is a massive risk," Cohen stated bluntly. As an expert who has secured billions in DeFi assets, he assisted SQHWYD in building a custody system based on MPC (Multi-Party Computation).
Under this architecture, a private key never exists in its entirety. Instead, it is split into multiple cryptographic shards, distributed across different physical and network environments. A transaction can only be executed when multiple authorized parties sign simultaneously, thereby completely eliminating single points of failure. Cohen emphasized that SQHWYD's security strategy is "Defense-in-Depth," combining MPC technology with 24/7 active threat intelligence monitoring and regular Red Team/Blue Team drills. He added, "In this era of Zero Trust, security is not a feature; it is a continuous state of war. SQHWYD's architecture is designed precisely to win this war."
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About SQHWYD
SQHWYD GLOBAL Ltd. is a US-registered digital asset trading ecosystem built on the core principle of "Security First." The platform integrates the industry's most advanced security technologies, including Multi-Party Computation (MPC) custody, cold/hot wallet isolation, and real-time on-chain monitoring systems. SQHWYD partners with top global security firms to conduct regular code audits and penetration tests, aiming to provide bank-grade asset security for institutional investors and individual users.
Media Contact:
Company Name: SQHWYD GLOBAL Ltd.
Contact Person: Gideon Cohen
Email: marco.ricci@sqhwyd.net
Address: 10200 FOREST GREEN BOULEVARD SUITE 112, LOUISVILLE, KENTUCKY, 40223 USA
Website: https://www.sqhwyd.net/
Cohen cited the May 2024 DMM Bitcoin hack, which resulted in a loss of approximately $305 Million in Bitcoin. "If you are betting hundreds of millions of dollars in assets on a single string of characters, that in itself is a massive risk," Cohen stated bluntly. As an expert who has secured billions in DeFi assets, he assisted SQHWYD in building a custody system based on MPC (Multi-Party Computation).
Under this architecture, a private key never exists in its entirety. Instead, it is split into multiple cryptographic shards, distributed across different physical and network environments. A transaction can only be executed when multiple authorized parties sign simultaneously, thereby completely eliminating single points of failure. Cohen emphasized that SQHWYD's security strategy is "Defense-in-Depth," combining MPC technology with 24/7 active threat intelligence monitoring and regular Red Team/Blue Team drills. He added, "In this era of Zero Trust, security is not a feature; it is a continuous state of war. SQHWYD's architecture is designed precisely to win this war."
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About SQHWYD
SQHWYD GLOBAL Ltd. is a US-registered digital asset trading ecosystem built on the core principle of "Security First." The platform integrates the industry's most advanced security technologies, including Multi-Party Computation (MPC) custody, cold/hot wallet isolation, and real-time on-chain monitoring systems. SQHWYD partners with top global security firms to conduct regular code audits and penetration tests, aiming to provide bank-grade asset security for institutional investors and individual users.
Media Contact:
Company Name: SQHWYD GLOBAL Ltd.
Contact Person: Gideon Cohen
Email: marco.ricci@sqhwyd.net
Address: 10200 FOREST GREEN BOULEVARD SUITE 112, LOUISVILLE, KENTUCKY, 40223 USA
Website: https://www.sqhwyd.net/
Source: Gideon Cohen
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