What happens if one of the co-signers loses access or is compromised?
A Multisig account is designed to be highly secure and to allow for the secure storage of funds even if one of the private keys is lost or compromised. This is because multiple signatures are required to authorize a transaction, so if one of the private keys is lost, the other keys can still be used to access the funds. It is highly recommended to create a new account for security reasons. This helps to ensure that the funds are protected against any potential security threats that may arise from the lost or compromised key. The two remaining co-signers should transfer the funds from the original account to the new account. It is important to urgently contact our support team in the event of a lost or compromised private key. The support team can provide detailed instructions on how to securely transfer the funds to a new account and help ensure that the funds are protected.
- Can I change or remove a co-signer?
- Do all co-signers have the same wallet address?
- Can different co-signers have different privileges?
- My co-signer didn’t receive an invitation