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BitGo bitcoin wallet adds new improvements to its service

BitGo Inc., a leading multi-sig bitcoin wallet provider, has announced few recent enhancements in its services in a move to come out of the recent Bitfinex hack.

According to the company blog, CEO of BitGo Mike stated that the company is constantly seeking to improve its security services in order to better serve customers. He added that the recent improvements are the result of acting upon some of the “lessons learned” coming out of the Bitfinex hack.

“It has now been several weeks since the Bitfinex hack. I still believe in the future of bitcoin and I am encouraged by the ways we’re working to improve security and implement standard practices for the industry,” he added.

The new improvements to BitGo services include Customer Wallet Review where the company conducted a review of all customers’ wallet and recommendations were made on improvement of wallet security through policies and wallet architecture. Customers were also provided with basic practices for handling access tokens and credentials in a multi-user environment.

Other service enhancement include  Immutable Policies in which, changes to the policy cannot be made via API, and may only be unlocked by BitGo operations personnel after a manual, out-of-band identification and authentication process. The process has video call with pre-verified persons and several other safeguards.

The third improvement is Mandatory Multiple Approvers, where the company has tightened the multiple user policy for several customers to require at least three users to take an administrative action.

“Overall, these are just some of the ways BitGo is doing things differently. We’re committed to continually making our systems better to keep our customers secure,” Mike stated.

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