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.

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