Before responding, I’d first like to say that I'm really sorry for everyone who has been affected by the recent issue. Losing access to funds or worrying that you might is incredibly stressful. My thoughts are with everyone dealing with the uncertainty. Hardware wallets solve an important problem. They keep your private key off the computer you use to build transactions and lets you verify what you’re signing. Multisig goes a step further by removing any single point of failure. Instead of trusting one device, security is shared across multiple keys. The challenge is that traditional multisig is too complex for most people, requiring multiple devices, vendors, locations and operators. A federation is effectively a hot multisig. While each key share is online, compromising funds in a 10 guardian federation requires control of 7 independent key shares, held by 7 different operators. This foundation makes multisig dramatically simpler for end users by providing it as a built in feature of the protocol. We already know multisig is one of the strongest security models. We’ve just didn't have an easy way to make it accessible. Fedi, using Fedimint underneath, is designed to do exactly that. This is the high level view. More detailed info can be found here: https://fedimint.org/guardians/how-federations-work#multi-signature-custody