Researcher: A multi-signature wallet built on Conduit was attacked and 12 L2 funds were drained, with losses of up to $121 million

A multi-signature crypto wallet has permissions for 12 different blockchain networks, which means that if the wallet is attacked, the funds of all 12 networks may be drained, and the loss may reach $121 million. According to data shared by L2Beat researcher Luca Donno at X recently, these networks include Zora, Aevo, Hypr, Orderly, Ancient8, Lyra, Mode, Pgn, Parallel and Metal, all of which were created using Conduit rollup creation software. Conduit founder Andrew Huang said that without three of the team's five signatures, the wallet cannot trade. Huang added that the system will be upgraded "in the coming weeks" so that its transactions require 5 of 7 multi-signatures instead of 3 of 5. He also said that once L2 enters the decentralized "Phase 2", the risk of centralization will be further reduced. (Cointelegraph)