What should one be careful of while updating firmware of a hardware wallet that is part of a multisig?

Updating the firmware of a hardware wallet that is part of a multisig is an important maintenance task to ensure the security and functionality of the wallet. However, there are some things to be careful of while updating firmware, especially in the context of a multisig wallet. Here are some points to consider:

Verify compatibility: Ensure that the new firmware version is compatible with the multisig wallet software and the other hardware devices that are part of the multisig. Check the wallet manufacturer’s website and release notes for compatibility information.

Coordinate with other signers: Coordinate with the other signers of the multisig wallet before updating the firmware. Make sure that everyone is aware of the update and the potential downtime, and that all signers have updated their firmware to the same version.

Backup private keys: Backup the private keys of the hardware wallet before updating the firmware. This is important in case the update process goes wrong or the device gets damaged during the update.

Follow instructions carefully: Follow the firmware update instructions provided by the wallet manufacturer carefully. Do not skip any steps, and do not disconnect the hardware device during the update process.

Verify firmware version: Verify that the firmware update was successful and that the wallet is running the new firmware version. Check the wallet settings or consult with the manufacturer to verify the firmware version.

Test multisig functionality: Test the multisig functionality after the firmware update by sending a small amount of cryptocurrency. Ensure that all signers can still sign transactions and that the multisig wallet is functioning as expected.

Overall, updating firmware on a hardware wallet that is part of a multisig requires careful planning and coordination with the other signers. It is important to backup private keys, follow instructions carefully, and test multisig functionality after the update to ensure the security and functionality of the wallet.