New crypto security system from Google for banks Google unveiled a new crypto security system that aims to prevent compromised private keys from accounting for 43.8% of all crypto thefts in 2024. The new Multiparty Computing (MPC) service distributes wallet keys across multiple systems and verifies transactions before confirmation, to reduce the risk of a single security breach putting funds at risk. Alphabet is already using the technology to secure assets in Ethereum and Solna while major financial institutions are testing it. Commercial launch is planned for early 2027.

New crypto security system from Google for banks Google unveiled a new crypto security system that aims to prevent compromised private keys from accounting for 43.8% of all crypto thefts in 2024. The new Multiparty Computing (MPC) service distributes wallet keys across multiple systems and verifies transactions before confirmation, to reduce the risk of a single security breach putting funds at risk. Alphabet is already using the technology to secure assets in Ethereum and Solna while major financial institutions are testing it. Commercial launch is planned for early 2027.