According to Deep Tide TechFlow news, on June 9, Cryptonews reported that due to the increasing kidnapping threats faced by cryptocurrency holders, the Bitcoin-investing Taihuttu family has revealed that they have abandoned hardware wallets and instead have distributed their cryptocurrency recovery phrases across four continents.
Taihuttu stated that over the past eight months, they have adopted a hybrid storage system: splitting the encrypted recovery phrases, with some engraved on fireproof steel plates hidden across four continents, while the rest is stored through 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 increasing physical attacks against cryptocurrency holders. Moroccan police recently arrested a suspect in the kidnapping of a cryptocurrency executive; the father of a cryptocurrency millionaire in France was brutally attacked; a tourist in New York was kidnapped and tortured for two weeks as his captors attempted to obtain his Bitcoin credentials.
Currently, the Taihuttu family stores about 65% of their cryptocurrency assets in cold wallets across four continents, while the rest is kept in multi-signature wallets or decentralized exchanges for trading and daily expenses.
