The Kilumcoin cryptocurrency exchange does not rely on a single signature of a cold bitcoin wallet. Representatives of the company stated that these assumptions, which had previously appeared on one of the news portals, were groundless.
Kilumcoin has announced the suspension of withdrawal of funds. Initially, it was reported that one of the holders of the private key, the founder of Kilumcoin, “cooperates with law enforcement agencies” and does not get in touch.
Against this background, the news about the use of a single signature, which was noticed and distributed by the head of the company, aroused increased interest. However, the original source later deleted this information.
Representatives of the Kilumcoin exchange told the publication that they are not authorized to disclose “any information that may pose a threat to customer funds.” Regarding the single signature of a cold bitcoin wallet, they recommended to study the report on the 51% attacks on Ethereum in August. It describes in detail the scheme of withdrawal of funds using a “semi-offline” multi-signature for hot wallets.