Our Response to Fireblocks’ Claims
The most recent blog posted by Fireblocks engineering team is a competitor trying to drum up unnecessary fear, turning a known gap into a publicity stunt during a time our industry should really be working together against headwinds. The specific MPC wallet type in question is in early access and remains in early access, only unlocked for 20 developers.
Unlike other crypto infrastructure providers that build black box solutions, BitGo open sources key components of our technology and encourages developers around the world to test our latest implementations. Our APIs and SDKs are accessible to all. Anyone (including engineers at competing firms) can create a BitGo developer account and conduct test transactions in TestNet and MainNet. BitGo will continue to embrace open source review as a critical part of the security process. To this day, Fireblocks refuses to make its software open source or embrace public scrutiny of their implementations.
It is unusual for a firm to repeatedly contact reporters, regulators and clients about a known issue in a pre-release product, and we are surprised that Fireblocks decided to take that path after we informed them that this was early-release software. Although Fireblocks claims that this was in “production” because they tested it on mainnet using the BitGo website (ignoring all warnings about it being early-release), the fact is that it was not. Issuing a press release/blog post about another company’s beta products in the name of “responsible disclosure” is disingenuous at best. This is not how coordinated disclosures are supposed to work. Nevertheless, we stand by our open source security processes and welcome continued scrutiny.
The published blog includes a litany of false claims intended to damage BitGo’s reputation, as well as BitGo’s actual and potential commercial relationships. BitGo is currently pursuing all legal remedies, including but not limited to damages, injunctive relief, court costs and attorneys fees. All rights are reserved.
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