What is happening with deposit wallet updates?
Liquid is making a major overhaul to our wallet infrastructure and moving to a state of the art technology called Multi-Party Computing (MPC) technology for the management of Private Keys. As part of the migration, Liquid users' deposit wallet address at Liquid will be updated with a new wallet address.
Why is Liquid making changes to users deposit wallet address?
Liquid has fully embraced technology & innovation with a single-minded purpose to provide better service to our users. With MPC, we have hardened our security against external and internal attack vectors. Under MPC management of PK, no single entity - be it device, HSM, cloud service, person, or server that has access or even knowledge of the Private Keys. MPC technology relies on a threshold signature schema that allows transaction signing to be done securely without parties in the signing quorum to have access to key material.
Fully upgrading our wallet infrastructure to MPC is a part of Liquid’s journey to provide clients with the safest & most reliable exchange venue in the industry. Liquid is proactively taking measures to improve service
What do users need to do?
Your deposit address associated with your Liquid account is changing. Please update your current address at Liquid to your new address.
You can get the new address by logging into each wallet on the Deposit Wallet screen on the Liquid GUI or query for the address via API.
What happens if I send crypto to my “old” wallet address at Liquid?
Crypto sent to your “old” wallet address at Liquid will still be available for trading, lending or withdrawing. Liquid’s world-class Blockchain Engineering team has extensively tested and ensured our user experience will be seamless during this transition
How long will Liquid support the current wallet address?
Liquid will support the existing wallet address until 31st August 2020. After this period, users will be reminded to transition their deposits to the new wallet address.
At no stage will your crypto be lost. Liquid has been operating for 6 years and has never lost client funds or had a security breach.
When is this change happening?
The schedule for the wallet upgrades can be found below:
15th of July update (15:00 JST):
BTC, ETH, BCH, XRP, BTCV, All ERC-20’s.
1st of August update (15:00 JST):
LTC, TPAY, KMD, RFOX, ZEC, DASH, QTUM, XEM, FCT, XLM, NEO, XLM, SIX, HOT, WLO, TFT.
All other currencies not mentioned are already integrated into our MPC Wallet Infrastructure.