<blockquote>
<p>malicious arbitrator isn't limited to using just one set of keys / addresses etc.. They can just fire up a completely seperate Bisq app in seconds with a different private key and different addresses and run as many "traders" as they like.</p>
</blockquote>
<p>Multiple instances of Bisq can be run by the arbitrator yes. It would only have a copy of the contracts and handles in the contracts. These are checked to be of a valid combination with the arbitrator handles. So it will work. It is pure software. Don't mix this up with Bitcoin transactions.</p>
<p>Trader1 <-> arbitrator1<br>
Trader2 <-> arbitrator1</p>

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