The early, now called “legacy”, multi-sig didn’t really have a standard for derivation as I understand. For example contrarily to native segwit multisig, where m/48'/0'/0'/2' seems used by default by pretty much every software and hardware wallet.
So for example Electrum, if I’m not mistaken, uses m/45'/0 for legacy multisig while a hardware wallet like the Keystone used m/45'.
As a sidenote apparently on the Keystone hardware wallet I cannot even export any “xPub” other than m/45' for Legacy P2SH multi-sig.
I know you can (and I already did) use native segwit multisig but this is not what I’m asking here.
What I want to know is if legacy multisig using m/45' is safe? For example in a 2-of-3 or even 3-of-3 multisig. Would there be any security issue or considerations?
Several wallets (including Copay, Electrum, Sparrow too I think) aren’t using that path by default anymore. Is it because it’s unsafe?
