Secure Management of Cryptographic Assets

Managing Private Keys, Admin Privileges, and Wallets

"The ideal situation involves private key material being kept offline, encrypted, and ideally split into different charts."

— Martin Prado, Chief Information Security Officer at Ava Labs

For blockchain projects, cryptographic key management is fundamental to security. Follow these best practices:

1. Follow established standards: The Cryptocurrency Security Standard (currently version 9) provides comprehensive guidance for key material management.

2. Keep private keys secure:

   • Store keys offline when possible
   • Always encrypt private key material
   • Consider splitting keys into different shards
   • Use Hardware Security Modules (HSMs) for enhanced protection

3. Implement strict admin privilege controls:

   • No one should have admin rights by default
   • Use a "breaking glass" mechanism requiring approval from stakeholders for privilege escalation
   • Remember that risk = rights × time (minimize both)