Didi Taihuttu, head of the family known as the 'Bitcoin Family', revealed that his family had completely overhauled their crypto asset security system following a wave of crimes targeting crypto owners. In an interview with CNBC, Taihuttu said they now store their private key parts on four different continents, making it nearly impossible to access by force.
Since deciding to 'all-in' on Bitcoin in 2017, this nomad family is now using a hybrid approach no longer just relying on hardware wallets. Even if someone pointed me at a gun, I couldn't give more than that on my wallet or cell phone. And that's not much," said Taihuttu.
According to Taihuttu, their seed Bitcoin phrases have now been encrypted and divided into four parts, then stored physically in various locations in the world. Storage is carried out using blockchain-based services and manually carved fire-resistant metal plates. This strategy is carried out to eliminate a single failure point in their security system.
As an additional layer of protection, Taihuttu also modified several words in their seeded phrases. This modification makes it unusable without a particular context, even if it is found by other parties.
Due to the increasing threat, these families no longer upload their real-time locations on social media. They have received threats from individuals who track their whereabouts online.
65% Of Assets Stored In Cold Storage
Currently, about 65% of the family's total crypto assets are stored in cold storage under the new security system. Meanwhile, the hot wallet used for daily transactions and trading is protected by multisignature protocols.
The wave of crypto-related crimes has increased dramatically since late 2024, along with the increase in the value of Bitcoin and other digital assets. A series of cases of violence were recorded in various countries, including France, Pakistan, Australia, and Canada.
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In January, a group of gangs in the UK was convicted of kidnapping and torture of a crypto investor. In February, six men kidnapped a family in Chicago and demanded a transfer of USD 15 million in crypto.
Last March, popular streamer Kaitlyn Sigusa alias Amouranth became a victim of an armed robbery at her home, with the perpetrator demanding access to crypto assets. In May, South Korean police arrested a Russian citizen for attempted crypto robbery worth US$330,000.
The latest incident occurred on May 13 in Paris, when three masked men tried to kidnap Pierre Noizat's daughter and grandson, CEO and founder of the Paymium crypto exchange. His daughter fought back and even managed to seize one of the perpetrators' weapons, until residents who passed intervened and thwarted the kidnapping attempt.
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