I'm trying to create a MultiSig wallet for both ETH and ERC20. After doing some research, I found Gnosis, which seemed to fill my need.

First I tried to download the local (electron-based) version. Which was not connecting with my Trezor, so I was recommended to use the web version instead: https://wallet.gnosis.pm/#/wallets.

I then used the web version with MetaMask. For my test I used the Kovan network and deployed the Multisig Wallet requiring 2 confirmations out of 2 addresses, with a daily limit of 3 Eth.

All good, contract deployed, sent it some eth to test it out. It was received normally and updated the balance. Now for the final test, I tried to withdraw some funds, but to my surprise, any of the owner addresses were able to withdraw funds without requiring the second signature/confirmation. All funds were immediately transferred out of the wallet whenever any of the owners withdraw, completely skipping the necessity for the second signing, even though it is set-up for 2 required confirmations.

Here's the deployed wallet address: 0xeE27cE0d4a4001964C125c4B8C74b78489Fd74FB

My questions are:

1 - Is this broken or am I missing something? If broken, how can I fix it?

2 - I noticed that the Gnosis repository (https://github.com/gnosis/MultiSigWallet) hasn't been updated in a while, especially the contracts folder. How reliable is it to use in a production environment?

  • 1. It's not broken, but without seeing your code it is going to be rather difficult to tell you what you're doing wrong. 2. This contract is very reliable, and very widely is use. Jun 7, 2020 at 4:36

1 Answer 1

  1. You deployed the wallet with daily limit.

In this wallet, an owner can withdraw up to a daily limit without multisig. If this isn't what you wanted, you can use the regular wallet without daily limit, which requires all signers for any transaction.

Back in 2017 I wrote a serious of medium posts about the wallet but they are pretty technical.

  1. Gnosis recommend that you now use the Gnosis safe instead, it is more gas effient and more flexible.


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