Chainlink downplays worries after users notice quiet change to multisig
Decentralized oracle network Chainlink has downplayed a recent change in the number of signers required on its multisig wallet — a move that garnered backlash on social media from vocal critics.
Crypto researcher Chris Blec was among a number of users on X (formerly known as Twitter) who called out Chainlink for quietly reducing the number of signatures required on its multi-signature wallet from 4-of-9 to 4-of-8.
The 4-of-8 multisig requirement is a security measure that requires four out of eight signatures to authorize a transaction.
In a Sept. 25 X post, Blec drew attention to an original post from a pseudonymous user which showed that a wallet address had been removed from the multisig wallet without any announcement being made by Chainlink.
Chainlink multisig has removed a signer and is now a 4-of-8 multisig.
This multisig can change *any* Chainlink price feed to provide *any* price that it wants it to provide.
Completely centralized under this multisig. https://t.co/GOAtJXShIV
While members of the crypto community were quick to raise their concerns with the move, a spokesperson for Chainlink told Cointelegraph that the update was part of a standard signer rotation process.
Blec has long been an outspoken critic of Chainlink, going as far as saying that “the entire DeFi ecosystem can be intentionally destroyed in the blink of an eye,” if Chainlink’s signers were to ever “go rogue.”
The entire DeFi industry - VCs, DAOs, devs, everyone - is colluding to hide the fact that if 5 people, chosen by @chainlink, ever decide (or are forced) to go rogue, the entire DeFi ecosystem can be intentionally destroyed in the blink of an eye.
Related: Chainlink hits Ethereum layer-2 Arbitrum for cross-chain DApp development
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