On February 22, it was reported that on the evening of February 21, Beijing time, assets worth US$1.5 billion in cryptocurrency exchange Bybit were stolen due to an ETH multi-signature wallet transfer attack, making it the largest hacker attack in the Web3 industry to date. The encryption industry has been suffering from hackers for a long time, and Xinhuo Technology announced that it is willing to provide Bybit with an MPC wallet security solution for free to jointly protect the security of customers 'funds. Xinhuo Technology's MPC wallet solution adopts MPC-TSS (Muti-Party Computation-Threshold Signature Scheme) technology to support users in distributed management of private key fragmentation and collaborative signature. It does not rely on a single centralized organization and supports T-N threshold signature settings (such as the 3-3 multi-party signature scheme), eliminating the risk of traditional private key storage, and at the same time solving the single point of private key risk, truly allowing users to achieve safe and self-custody of assets. So far, Xinhuo Technology's MPC wallet security solution has provided products and services to many well-known trading platforms and institutions in the industry.