The ‘Bitcoin Family’ has taken extreme security measures to protect their crypto holdings as kidnappings and extortion cases targeting cryptocurrency investors have risen. The family, which includes Didi Taihuttu, his wife Romaine, and their three daughters, has ditched hardware wallets and employed ingenious methods to ensure safety.
To mitigate the risks, they have split a 24-word Bitcoin seed phrase into four sets of six words, with each set stored on a different continent. This means that Didi Taihuttu needs to make at least one international trip to access the wallet, making it difficult for potential attackers. The family also uses blockchain encryption platforms and etches parts of the seed phrase on fireproof steel plates, adding an extra layer of personal encryption.
The decision to move away from hardware wallets was made amid growing concerns about backdoors and remote access features. Instead, they use a hybrid system where the seed phrase is stored partly digitally and partly analogously. The family also treats their cold wallet savings as a pension fund that will only be accessed once the BTC price reaches $1 million.
The rise in crypto-related kidnappings has prompted several investors to hire bodyguards or armored trucks for added security. Insurance companies have also started offering kidnap and ransom (K&R) policies tailored for cryptocurrency holders. The Taihuttu family has taken these measures seriously, curtailing video shoots and avoiding France due to the growing threats.
The family’s lifestyle is now focused on safety, with limited social media presence and no regular travel updates. Didi Taihuttu stated that creating content is his passion, but the concern for his daughters’ safety forces him to stay away from the camera.
Source: https://cryptoslate.com/the-bitcoin-family-has-split-and-hidden-seed-phrase-across-4-continents-amid-rising-kidnappings