"Whatever your setup is for storing the majority of your bitcoin - be it hot or cold, online or offline, software or hardware - if you can access and spend it in a matter of minutes, so can a robber armed with a $5 wrench.
The price for convenience is risk. This is not merely a theoretical scenario; I have cataloged over 50 physical attacks against bitcoin users, including myself!" -- Jameson Lopp
Bitcoin holders face a unique security challenge: protecting their assets from physical threats, including the infamous "$5 wrench attack."
This comprehensive guide, inspired by Jameson Lopp's work, outlines practical strategies for safeguarding cryptocurrencies against coercion and theft.
The article emphasizes the importance of privacy, multi-signature setups, and geographic distribution of keys as foundational elements of a robust security plan.
It explores various tactics, from basic precautions like maintaining a low profile to more advanced measures such as creating decoy wallets and implementing duress passwords.
The guide also delves into the concept of "plausible deniability" and discusses the potential benefits of holding cryptocurrencies through corporate structures.
By adopting a multi-layered approach to security, Bitcoin owners can significantly reduce their vulnerability to physical attacks and ensure the long-term safety of their digital assets.
Here is the original article:
How to protect your bitcoin from $5 wrench attacks
https://blog.casa.io/how-to-protect-your-bitcoin-from-5-wrench-attacks/
bitcoincuracao / Bitcoin Curaçao
npub16c…gvghv
2024-07-09 16:44:56
Author Public Key
npub16chg6ppwpr4pmkxz92v8jjqkztvhysdc2tl3kgx29xpay45l57wqpgvghvPublished at
2024-07-09 16:44:56Event JSON
{
"id": "8a4cf2fb99371a3d1092a6d140cd91d191722078c3aed03cdc450b9988faecbe",
"pubkey": "d62e8d042e08ea1dd8c22a9879481612d97241b852ff1b20ca2983d2569fa79c",
"created_at": 1720543496,
"kind": 1,
"tags": [],
"content": "\"Whatever your setup is for storing the majority of your bitcoin - be it hot or cold, online or offline, software or hardware - if you can access and spend it in a matter of minutes, so can a robber armed with a $5 wrench.\n\nThe price for convenience is risk. This is not merely a theoretical scenario; I have cataloged over 50 physical attacks against bitcoin users, including myself!\" -- Jameson Lopp\n\nBitcoin holders face a unique security challenge: protecting their assets from physical threats, including the infamous \"$5 wrench attack.\"\n\nThis comprehensive guide, inspired by Jameson Lopp's work, outlines practical strategies for safeguarding cryptocurrencies against coercion and theft.\n\nThe article emphasizes the importance of privacy, multi-signature setups, and geographic distribution of keys as foundational elements of a robust security plan.\n\nIt explores various tactics, from basic precautions like maintaining a low profile to more advanced measures such as creating decoy wallets and implementing duress passwords.\n\nThe guide also delves into the concept of \"plausible deniability\" and discusses the potential benefits of holding cryptocurrencies through corporate structures.\n\nBy adopting a multi-layered approach to security, Bitcoin owners can significantly reduce their vulnerability to physical attacks and ensure the long-term safety of their digital assets.\n\nHere is the original article:\n\nHow to protect your bitcoin from $5 wrench attacks\nhttps://blog.casa.io/how-to-protect-your-bitcoin-from-5-wrench-attacks/",
"sig": "016749e07c99622df0dd611afacae4f137a8dd89ff95cc5aecf35ac65b3457c52b7e3db0457d5061ac7e566bb427164aaf02aedd14cc2beea5112c30acca757d"
}