Family of Bitcoin Influencers Hide Their Crypto Codes on Four Continents to Deter Kidnappers
That's certainly one way to get the crypto thieves off your back, maybe...
A family who struck it big in Bitcoin investing years ago has a quite unusual strategy to deter potential kidnappers: hiding their cold storage seed phrases in hidden bunkers located all over the world.
The Taihuttus claim they struck digital gold after dropping everything to invest in Bitcoin in 2016 (the asset was only about $900 then, while it is currently trading at a value of approximately $110k). As a result, they presumably have lots and lots of money and have branded themselves as the 'Bitcoin Family' on Instagram. The head of the family (and the most visible presence on social media), Didi Taihuttu, says that, in these most dangerous times, he has hidden his crypto codes at various bunkers scattered across four separate continents.
'We have changed everything,' Taihuttu recently told CNBC. 'Even if someone held me at gunpoint, I can't give them more than what's on my wallet on my phone. And that's not a lot.'
Taihuttu also told the news outlet that in addition to hiding the seed code snippets at physical locations he has also squirreled them away in blockchain-based encryption services online. It's sort of the equivalent of cutting your house key into a bunch of little pieces and then throwing those pieces out the window of your car as you drive down the highway. The Taihuttus also apparently travel all the time, so they're a bit of a moving target for any would-be robbers.
The reason the family is going to extreme protective measures should be obvious. Armed robberies, kidnappings, and even murder have plagued the crypto community in recent years, as organized crime has honed in on digital assets as a prize that can be pried loose from extravagantly wealthy hands. A criminal case currently unfolding in New York that involves a crypto millionaire who was allegedly kidnapped and tortured for two weeks is just the latest sign that the web3 world has a target on its back.
This, to me, would seem to be the latest sign that crypto ownership is less and less worth it. When you have to travel constantly and keep your passcodes in a secret bunker in South America just to keep criminals from kidnapping your family, maybe it's a sign that the business you've chosen isn't all it's cracked up to be. Then again, the Taihuttus seem fabulously wealthy and always appear to be staying at a different luxury resort, so maybe it's all worth it. It's a prison of their own making, but it's a luxurious prison, so who's to say?
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