No. KeyPact is based on Native Scripts, the most basic type of script. This gives them unparalleled simplicity and safety when using them. The system you are using here has not been validated by any external organization or been thoroughly battle tested by the community.

The most prominent risks users of keyPact face at the current point in time are:

1) Exploit or bug in the code, even thought the engine of the system runs on native scripts making it exceptionally safe, it is not impossible that something was missed that could put your funds at risk.

2) Content delivery attacks. KeyPact is hosted on app.keypact.io, we own the domain and the machines that serve the website. We currently use cloudflare for content delivery that allows for safe and scalable deployment. Cloudflare is a well established organization serving a large portion of all the internet and offering an extensive suite of security practices. This gives us a high level of assurance that such an attack will not happen on the keyPact service.

Make sure you are always visiting keypact.io and only use app.keypact.io!
We will continue looking for ways to eliminate this danger completely using web3 tech.

Blockchain and Crypto elevate you from a client of an organization to a self-sovereign individual. Using these technologies you are in complete control of your finances. But with great power comes great responsibility, and when you take full custody of your funds, you take the responsibility of storing and managing the keys that hold those funds. With multisig you can share this responsibility and split up the risk amongst multiple keys, giving you the ability to gain full confidence in the future of your digital holdings!

If you lose your keys in the crypto world all the funds controlled by those keys are lost for ever. No authority exists that will be able to return them to you! Using multisig you can mitigate this risk by building a social recovery wallet, where other keys are able to unlock the wallet and return your property back to you, like giving your mother and best friend spare keys to your house.

If you login to the keyPact service using a set of keys that belong to a multisig wallet, our system can find that multisig wallet and load it for you automatically. Additionally, recreating a wallet with the exact same settings will create the same wallet and all your funds will be available inside it. If you want to keep a digital copy of your wallet you can download it from Overview-> Settings -> Download *at the current (beta) stage of development. We cannot guarantee that the service will store all multisig wallets long-term. It is advised that you keep a copy of the wallet and/or use a set of keys that is easy to find again to recreate the wallet safely.

KeyPact Smart wallets are multisig smart wallets that are controlled by a set of plutus contracts. This allows them to have more features than a regular multisig wallet. There are 2 main differences:
1. You can assign the signing rights to an NFT instead of a key, and
2. You can update the configuration of the wallet at any time

You do not need to know how to write a smart contract to use a smart wallet. The UX has been made to be as close as possible to our multisig wallet, making the transition seamless and intuitive.

TBD

Smart wallets offer stronger security properties, allowing for the rotation of the beneficiaries. That means you can easily recover from a key being stolen/exposed and regain complete control of the account.
On the flip side, smart wallets rely on plutus smart contracts that could have unknown vulnerabilities. To mitigate this, the contracts are written in the most polished language “Aiken” and are simplified to make them easy to read. For anyone who would like to do so: Click here to do so now “https://github.com/leo42/BroClanWallet/tree/main/smart-wallet”

1. For individuals and organizations that want dynamic security.
2. For individuals and organizations that require NFT authentication.