COINDESK · 2026-10-28 11:00 UTC

Google to preview crypto custody security system as AI threats grow

Google is previewing Google Multi-Party Compute (MPC), a security system for banks and financial institutions to safeguard and move cryptocurrencies and tokenized assets, with commercial availability planned for early 2027. The MPC technology splits private keys into fragments distributed across multiple systems to eliminate single points of failure; Alphabet is already using it to secure digital assets on Ethereum and Solana. Compromised private keys accounted for 43.8% of cryptocurrency stolen in 2024, and blockchain projects have lost $16.69 billion cumulatively to hacks, with roughly 40%…

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