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by DennisP 398 days ago
This is why some crypto people have most of their coin in multisig wallets. They can only transfer small amounts without getting m-of-n friends to sign their transaction. If your friends know not to do that without hearing a code word, then the alarm will be raised.

Another option is to keep your cold storage in a safe deposit box or private vault, so you have to physically go someplace where there are other people. An advantage of the multisig is that the criminals can verify the situation, possibly before they show up at your house.

1 comments

People always say "with crypto, you are your own bank" like it's (only) a good thing and not realizing how hard it is to do right.
If people thought being their own bank was a good thing, we wouldn't have fucking banks