Didi Taihuttu, known as the head of the “Bitcoin family,” has completely changed the approach to asset storage. The reason was a wave of offline crimes against cryptocurrency owners, writes CNBC.
The Tychuttu family gained fame in 2017 when they sold all their property and invested the money in Bitcoin.
Over the past eight months, they have abandoned hardware wallets. Now the family uses a hybrid system: the seed phrases are encrypted, split into parts, and hidden across four continents.
Some of the data is stored in encrypted form on the blockchain, while the other is engraved on metal plates in physical caches. Additionally, Taihuttu applied personal encryption by replacing certain words in the phrase.
“Even if they put a gun to my head, I won’t be able to give away more than what’s in my wallet on my phone. And there is not much,” Taihuttu said.
About 65% of the family’s assets are in cold storage across four continents. Accessing them will require at least one international flight. Tychuttu plans to use this capital only if the price of Bitcoin reaches $1 million, which, according to his forecast, could happen by 2033.
For everyday expenses and trading, the family uses hot wallets with multi-signature technology through the Safe service. This requires confirmation from multiple participants to carry out a transaction. Taihuttu noted that he prefers decentralized solutions over centralized storage.
“What will happen if one of these companies goes bankrupt? Will I still have access? You are once again putting your capital into someone else’s hands,” he believes.
The threats also affected the public life of the family. Taihuttu stopped disclosing his location after strangers began sending him messages about his home address. The family decided to move and completely give up filming at home.
"My kids also read the news. Especially that story from France, where the daughter of the CEO [of the crypto exchange Paymium, Pierre Noizat]was almost kidnapped on the street*. Now they are asking difficult questions: what if someone tries to kidnap us? What is our plan?" — shared Taihuttu.*
Due to safety concerns for their daughters, the family decided to completely avoid trips to France and is considering stepping away from the public eye.
Recall that in May, arrests of suspects in Bitcoin extortion took place in three countries.
The family of Bitcoin nomads explained their move to Portugal by the absence of taxes.
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The "Bitcoин-fam" has hidden the keys to crypto assets on four continents.
Didi Taihuttu, known as the head of the “Bitcoin family,” has completely changed the approach to asset storage. The reason was a wave of offline crimes against cryptocurrency owners, writes CNBC.
The Tychuttu family gained fame in 2017 when they sold all their property and invested the money in Bitcoin.
Over the past eight months, they have abandoned hardware wallets. Now the family uses a hybrid system: the seed phrases are encrypted, split into parts, and hidden across four continents.
Some of the data is stored in encrypted form on the blockchain, while the other is engraved on metal plates in physical caches. Additionally, Taihuttu applied personal encryption by replacing certain words in the phrase.
About 65% of the family’s assets are in cold storage across four continents. Accessing them will require at least one international flight. Tychuttu plans to use this capital only if the price of Bitcoin reaches $1 million, which, according to his forecast, could happen by 2033.
For everyday expenses and trading, the family uses hot wallets with multi-signature technology through the Safe service. This requires confirmation from multiple participants to carry out a transaction. Taihuttu noted that he prefers decentralized solutions over centralized storage.
The threats also affected the public life of the family. Taihuttu stopped disclosing his location after strangers began sending him messages about his home address. The family decided to move and completely give up filming at home.
Due to safety concerns for their daughters, the family decided to completely avoid trips to France and is considering stepping away from the public eye.
Recall that in May, arrests of suspects in Bitcoin extortion took place in three countries.