“The ‘Bitcoin Family’ has taken a series of measures to revamp their security after the crypto crime wave, aiming to protect their digital assets. Here are the details:
Background of the Bitcoin Family: The Taihuttu family sold all their possessions in 2017 to invest in Bitcoin and have since lived a nomadic life, traveling the world with their three daughters and remaining unbanked.
Measures Taken to Revamp Security
Abandoning Hardware Wallets: The family has lost trust in third – party hardware wallets due to concerns about backdoors and remote access features. For example, a controversial update by Ledger in 2023. They have now completely ditched hardware wallets.
Using a Hybrid Storage System: They adopted a hybrid security approach, splitting the 24 – word Bitcoin seed phrase (the cryptographic key to access their crypto holdings) into four sets of six words. Some are stored digitally through blockchain – based encryption platforms, and others are etched by hand onto fireproof steel plates and hidden in physical locations across four continents. Even if someone finds 18 of the 24 words, they won’t be able to access the assets. In addition, Didi Taihuttu encrypts select words in the seed phrase and swaps them out to confuse potential attackers.
Strengthening Hot Wallet Security: While the family still holds some crypto in hot wallets for daily spending and trading, these funds are protected by multi – signature approvals, which require multiple parties to sign off before a transaction can be executed.
Enhanced Caution in Daily Life: The family no longer posts real – time location updates on social media to avoid being tracked by criminals.”
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