A wave of loud kidnapping of cryptocurrency company executives or their relatives provoked a quiet security revolution. The number of requests to security firms has increased. Influencers stopped boasting about their wealth. Holders of large sums began to strengthen the protection of their own tokens.
The Taihuttu family, also known as the bitcoin family, broke the 24-word seed phrase into several parts, hiding these parts in different parts of the world, from Europe to South America. Their hot wallets are secured by multi-signature protocols, while cold funds are stored offline.
Taihuttu also uses decentralized trading platforms and MPC technology to reduce the number of points of failure in the face of an increasing threat of attack.
Back in 2017, the family sold everything they owned, from their house to their shoes, to invest fully in bitcoin when it was trading at $900. The father, mother, and three daughters are constantly moving and remain completely outside the banking system.
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Over the past eight months, Taihuttu has abandoned hardware wallets in favor of a hybrid system: part analog, part digital, with seed phrases encrypted, divided, and stored either through blockchain encryption services or hidden on four continents.
As physical attacks on cryptocurrency holders have become more frequent, the Taihuttus have begun to hide their whereabouts more carefully. They used to post videos on YouTube all the time, but stopped posting travel updates and filming at home.
One of the steel plates that the family uses to store part of their seed phrase is hand-engraved by their father. The girls have only small amounts of cryptocurrency on them, but the Taihuttus still decided to avoid France entirely.
Interestingly, the head of the family, Didi Taihuttu, can replenish the wallets remotely, but accessing them will require at least one international trip, depending on which pieces of the seed phrase are needed. The savings are seen as a long-term pension that will only become available if bitcoin reaches $1 million. This is expected to happen around 2033.
Source: CNBC
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