IP Library Granted Patent US 11,900,366
Granted Patent B2
US 11,900,366 · App. 17/172,794 · Granted Feb 13, 2024

System and method for securing crypto-asset transactions

Inventors: Pavel Berengoltz (Petah-Tikva, IL); Idan Ofrat (Ganey Tikva, IL); Michael Shaulov (Tel Aviv-Jaffa, IL)
Assignee: FIREBLOCKS LTD.
G06Q20/3825G06Q20/3827H04L9/0643H04L9/3247H04L9/50H04L2209/56
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Quick Facts
Patent No.
US 11,900,366
App. No.
17/172,794
Granted
Feb 13, 2024
Kind
B2
Abstract

A system and method for securing crypto-asset transactions. The method includes sharding a wallet private key such that each shard of the wallet private key is distributed to a different secure module; generating signatures by each of the different secure modules based on a respective shard of the sharded wallet private key and obtained trading platform credentials; and verifying the crypto-asset transaction when a predetermined threshold of the generated signatures are determined to match each other.

Claims (47)

1. A method for securing crypto-asset transactions, comprising:

sharding, by a processing circuitry, a wallet private key such that each shard of the wallet private key is distributed to a different secure module;

generating signatures by each of the different secure modules having access to corresponding trading platform credentials based on a respective shard of the sharded wallet private key and the corresponding trading platform credentials, wherein a secure module includes a secure trading platform connector and a secure wallet;

verifying a crypto-asset transaction associated with the wallet when the generated signatures are determined to match each other based on a pre-determined threshold;

calculating, by a secure module, a trading platform destination address using its respective secure trading platform connector; and

signing, by a secure module, the verified crypto-asset transaction with an environment-specific key using its respective secure wallet, thereby enabling execution of the verified crypto-asset transaction by a trading platform addressed by the calculated destination address.

2. The method of claim 1 , wherein the pre-determined threshold is all of the generated signatures.

3. The method of claim 1 , further comprising:

aggregating the generated signatures.

4. The method of claim 3 , wherein the aggregating is accomplished using multiparty computation.

5. The method of claim 1 , wherein signatures of each secure module are generated with same hash.

6. The method of claim 1 , wherein a crypto-asset transaction is a withdrawal of assets from the trading platform, wherein the method further comprises:

connecting, by the secure trading platform connector, to the trading platform through a trading platform application programming interface (API); and

sharding a trading platform API Secret such that each shard of the trading platform API Secret is distributed to a different secure module.

7. The method of claim 6 , wherein the generated signatures are generated based on the sharded trading platform API Secret.

8. The method of claim 1 , wherein each secure module holds only a single shard.

9. The method of claim 1 , further comprising:

sending the verified crypto-asset transaction to a blockchain network, and wherein the verified crypto-asset transaction is a deposit of assets.

10. The method of claim 1 , further comprising:

requesting at least a wallet private key and trading platform credentials to execute a crypto-asset transaction.

11. A non-transitory computer readable medium having stored thereon instructions for causing a processing circuitry to perform a process, the process comprising:

sharding, by a processing circuitry, a wallet private key such that each shard of the wallet private key is distributed to a different secure module;

generating signatures by each of the different secure modules having access to trading platform credentials based on a respective shard of the sharded wallet private key and obtained trading platform credentials, wherein a secure module includes a secure trading platform connector and a secure wallet;

verifying a crypto-asset transaction associated with the wallet when the generated signatures are determined to match each other based on a pre-determined threshold; calculating, by a secure module, a trading platform destination address using its respective secure trading platform connector; and

signing, by a secure module, the verified crypto-asset transaction with an environment-specific key using its respective secure wallet, thereby enabling execution of the verified crypto-asset transaction by a trading platform addressed by the calculated destination address.

12. A system for securing crypto-asset transactions, comprising:

a processing circuitry; and

a memory, the memory containing instructions that, when executed by the processing circuitry, configure the system to:

shard a wallet private key such that each shard of the wallet private key is distributed to a different secure module;

generate signatures by each of the different secure modules having access to trading platform credentials based on a respective shard of the sharded wallet private key and obtained trading platform credentials, wherein a secure module includes a secure trading platform connector and a secure wallet;

verify a crypto-asset transaction associated with the wallet when the generated signatures are determined to match each other based on a pre-determined threshold

calculate a trading platform destination address using its respective secure trading platform connector; and

sign the verified crypto-asset transaction with an environment-specific key using its respective secure wallet, thereby enabling execution of the verified crypto-asset transaction by a trading platform addressed by the calculated destination address.

13. The system of claim 12 , wherein the pre-determined threshold is all of the generated signatures.

14. The system of claim 12 , wherein the system is further configured to:

aggregate the generated signatures.

15. The system of claim 14 , wherein the aggregating is accomplished using multiparty computation.

16. The system of claim 14 , wherein signatures of each secure module are generated with same hash.

17. The system of claim 14 , wherein a crypto-asset transaction is a withdrawal of assets from the trading platform, wherein the system is further configured to:

connect to the trading platform through a trading platform application programming interface (API); and

shard a trading platform API Secret such that each shard of the trading platform API Secret is distributed to a different secure module.

18. The system of claim 17 , wherein the generated signatures are generated based on the sharded trading platform API Secret.

19. The system of claim 12 , wherein each secure module holds only a single shard.

20. The system of claim 12 , wherein the system is further configured to:

send the verified crypto-asset transaction to a blockchain network, and wherein the verified crypto-asset transaction is a deposit of assets.

21. The system of claim 12 , wherein the system is further configured to:

request at least a wallet private key and trading platform credentials to execute a crypto-asset transaction.

Assignments (1)
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Feb 10, 2021
From: BERENGOLTZ, PAVEL; OFRAT, IDAN; SHAULOV, MICHAEL
To: FIREBLOCKS LTD.
Reel/Frame 055217/0920 →
Continuity (3)
Continuation PCTUS2019048087 · Aug 26, 2019
Provisional Application 62723162 · Aug 27, 2018
Related Publication 20210224797A1 · Jul 22, 2021