Gate Founder Han Lin Shares Vault Solution to Prevent Unauthorized Fund Access

The founder of the cryptocurrency trading platform Gate, Han Lin, shared his thoughts on fund security, proposing the Vault solution, which is based on the core principle of preventing any single party from having the ability to unilaterally access funds. The private key is divided into three shards through MPC, held by the user's device, Gate, and a disaster recovery party, ensuring that the complete private key never appears in any single location. Han Lin pointed out that since 2026, there have been over 600 security incidents, resulting in losses exceeding $8 billion. In September alone, losses amounted to $768 million, and with October still ongoing, losses have already surpassed $6 billion for the month. Over 60% of the losses in the first half of the year were due to private key breaches and phishing, with code vulnerabilities accounting for just over 10%. In October, a hardware implant attack targeting distribution channels caused users to lose nearly $100 million. The solution sets a 48-hour delay for Vault transfers, during which users can freeze the transfer at any time. If a user's device is lost or backup passwords are forgotten, Gate and a third party can assist in recovery after the user completes identity verification. If Gate services are unavailable, users can recover their assets using device shards combined with third-party shards through open-source tools. Han Lin stated that the platform is willing to share this architectural approach and the real user scenarios encountered for industry discussion.

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