System and method for controlling usage of cryptographic keys

A method, comprising:

• obtaining a first node and a second node in communication with the first node, the first node comprises a first memory storage configured to store a first share of a cryptographic key and a communication module, the second node comprises a second memory storage configured to store a second share of the cryptographic key, wherein none of the first node and the second node has access to the share of the cryptographic key stored in another node,
• wherein the second node further comprises:
• a log storage configured to store operations that require the second share,
• a processing module extracting information from the log storage and configured to determine irregular use of the second share,
• multiple different shares of cryptographic keys, each of the shares is configured to enable decryption of data in a different node communicating with the second node, and
• wherein the processing module generates a process for changing the operation mode of the second share from enable to disable upon determination of the irregular use of the second share;
• performing a multi-party computation (MPC) process between a controlled computerized node and another node using the first share and the second share;
• receiving a command to change an operation mode of the key share from enable to disable, wherein the disable operation mode prevents performing the cryptographic operation receiving as input the first share and the second share of the cryptographic key using the MPC process;
• and
• changing the operation mode of the key share.