storage

The Bitcoin investing family "Taihuttu family" has decentralized the storage of their cryptocurrency mnemonic phrases across four continents to address kidnapping threats

According to ChainCatcher, as reported by Cryptonews, due to the increasing kidnapping threats faced by cryptocurrency holders, the Bitcoin investor family "Taihuttu family" has revealed that they have abandoned hardware wallets and instead dispersed their cryptocurrency mnemonic phrases across four continents.Taihuttu stated that over the past eight months, they have adopted a hybrid storage system: splitting the encrypted mnemonic phrases, with some engraved on fireproof steel plates hidden across four continents, while the rest is stored using blockchain-based encryption services. Even when threatened with a gun, he can only provide a limited amount of assets from his mobile wallet.This decision stems from the rise in physical attacks targeting cryptocurrency holders. Recently, Moroccan police arrested a suspect in the kidnapping of a cryptocurrency executive; the father of a cryptocurrency millionaire in France was brutally attacked; and a tourist in New York was kidnapped and tortured for two weeks, with the kidnappers attempting to obtain his Bitcoin credentials.Currently, approximately 65% of the Taihuttu family's crypto assets are stored in cold wallets across four continents, while the remainder is kept in multi-signature wallets or decentralized exchanges for trading and daily expenses.

The audit of the U.S. gold reserves has sparked controversy, with the crypto community supporting BTC as a means of value storage

ChainCatcher news, according to Cointelegraph, U.S. Senator Rand Paul called yesterday for an audit of the Fort Knox gold reserves led by Elon Musk's Department of Government Efficiency (DOGE) to verify whether it actually holds 147.3 million ounces (4,600 tons) of gold from the U.S. Treasury, sparking a debate about the transparency of Bitcoin compared to traditional assets and financial trust.The Fort Knox gold has not been audited for 50 years since 1974, primarily because the U.S. government has refused external audits on the grounds of national security, while its gold reserves are seen as a symbol of national credit, and public audits could trigger market volatility and a crisis of trust. Bitcoin supporters, including Senator Cynthia Lummis, stated: "Bitcoin solves this problem. Bitcoin reserves can be audited at any time through basic computers, year-round." Unlike physical gold, which requires external audits, Bitcoin allows anyone to verify ownership, supply, and transactions through the blockchain.Riot's research director Pierre Rochard said: "Gold requires trust in the auditor, while Bitcoin allows anyone to be an auditor." Bitcoin cannot be forged, whereas gold can. Although the U.S. has the largest gold reserves in the world, incidents of fake gold bars have occurred in recent years. In 2019, the CEO of Swiss refinery Valcambi admitted that counterfeiting technology has become increasingly sophisticated, suggesting that thousands of fake gold bars may go undetected. In contrast, Bitcoin cannot be forged, with a fixed total supply of 21 million coins, and its smallest unit, "satoshi," can be tracked on-chain. Bitcoin advocate Max Kaiser wrote in 2018: "Bitcoin is the most perfect hard currency humanity has ever known. Holding Bitcoin is a declaration of liberation from tyranny and government intervention, achieving individual sovereignty."
ChainCatcher Building the Web3 world with innovators