A family that went all-in on Bitcoin (BTC) back in 2017 has revealed its secrets to safeguarding the asset now that it has increased in price by around 5,000%. The Dutch family of five’s storage plan includes a series of secret locations spread across four different continents. In 2017, the “Bitcoin family” liquidated all of its assets and went all-in on BTC when it was trading around $900. With BTC trading over $45,000 today, the family’s undisclosed fortune is substantially larger. Patriarch of the family, Didi Taihuttu explained that he has hidden the hardware wallets across several countries so that …

Financial regulators in the U.K. have approved Digivault, the security token custody arm of digital assets group Diginex, to register as a custodian wallet provider. In an announcement from Diginex today, the firm said the Financial Conduct Authority, or FCA, had given the green light to Digivault to register as a stand-alone digital asset custodian in the United Kingdom. The move implies Digivault i in compliance with the financial watchdog’s rules on Anti-Money Laundering and Combating the Financing of Terrorism. According to the custodian, Digivault aims to “provide compliant and secure custody services to corporate and institutional investors in crypto …

Cryptocurrency exchange platform Hotbit has shut down all of its services after an attempted cyberattack on Thursday. “Hotbit just suffered a serious cyber-attack starting around 08:00 PM UTC, April 29, 2021, which led to the paralyzation of a number of some basic services,” a notice on the platform’s website reads. The hackers were reportedly unsuccessful in gaining access to Hotbit’s wallets but did manage to compromise the platform’s user database. Thus, the Hotbit team has advised customers to disregard any communication from entities claiming to be representatives of the exchange. With all normal operations currently paused during the ongoing maintenance, …

After another jump in the price of major cryptocurrencies at the end of 2020, crypto enthusiasts began to mine, sell and buy currencies with renewed vigor — which means that nowadays, the topic of custodying cryptocurrencies is more relevant than ever. But unlike the past bullish waves, this time many users are also concerned with how to protect their assets. The blockchain industry is developing, and traders have become noticeably smarter, but scammers and thieves have also become much more agile. This is also indicated by the period appearance of news related to exploits and rug pulls, not only regarding …

Bitcoin’s supply is capped at 21 million, but a significant proportion of that total sum is likely lost forever. This situation is due to a variety of reasons such as lost private keys and discarded storage devices containing substantial amounts of Bitcoin (BTC). When Bitcoin owners are not being careless with their wallet passwords, they can sometimes be targeted by hackers looking to steal their precious crypto. Those who utilize third-party custodial solutions place their Bitcoin fortune at the mercy of the security protocols adopted by such services. Indeed, several attack vectors are constantly being utilized to try and gain …

Tim Plakas has left the major United States crypto exchange Coinbase to join the cryptocurrency bank founded by Michael Novogratz, Galaxy Digital, an anonymous source purportedly told The Block on May 28. Plakas’ departure follows four senior executive departures from Coinbase in approximately the last seven months. Plakas reportedly held the position of over-the-counter (OTC) trading head at Coinbase from July 2018 to January 2019, and will be joining the OTC team at Galaxy Digital. Novogratz’s crypto bank is a member of Crypto OTC Roundtable Asia (CORA) Network, a non-profit collective of companies that want to improve the Crypto OTC …

Brian Armstrong, co-founder and CEO of United States crypto exchange and wallet Coinbase, has outlined what he believes to be four common misconceptions about crypto custody solutions. His article was published on Fortune’s crypto-focused segment The Ledger on Feb. 22. Cold storage refers to a method of keeping crypto holdings and users’ private keys offline in order to safeguard against theft via a remote attack. Hot storage, conversely, refers to storage on a device that has an active connection to the internet. Armstrong’s first argument tackles the perception that hot storage is always necessary to provide the flexibility and speed …