The American cryptocurrency company Coinbase stops multisig vaults support, whose additional level of security is provided by the multi-signature function. This is reported by Bitcoin.com.
Among the main reasons for this decision, representatives of the company call the low popularity of this option among customers, as well as negative feedback from them. Support for multi-signature vaults will stop on April 19 this year.
By removing this functionality, engineering time spent on supporting multisig vaults can be reallocated to continued investment in the security and reliability of our platform, which is of critical importance to our customers.
Also company explained that the increase in the number of bitcoin hardforks complicates the maintenance of such vaults, as well as ensuring the possibility of withdrawing coins that appear as a result of these events.
For users of multisig vaults, the company recommends making sure that they have two private keys required to manage their assets.