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What Is the Risk of “Collusion” in a Multisig Setup?

Collusion is the risk that the required number of multisig signers (e.g. 3 out of 5) secretly agree to act maliciously together.

They could approve a harmful upgrade or drain the contract's funds. This risk is managed by increasing the number of signers and ensuring they are diverse, independent entities with conflicting interests.

Can a Malicious Actor Exploit the Proxy’s Upgrade Mechanism?
How Does “Role-Based Access Control” Help Secure the Upgrade Mechanism?
How Is the Upgrade Function Typically Triggered in a UUPS Contract?
What Is a Multi-Signature (Multisig) Wallet?