Four ways to protect the money of bitcoin

Media reports that a bitcoin trader in South Africa was kidnapped for holding bitcoin. After the kidnapping, the man was invited to an anonymous speech, which highlighted the potential threats on the Internet.

Abducted bitcoin

The media reported that a bitcoin trader in the south of Johannesburg, South Africa, had experienced a terrorist attack.

Local media quoted police reports that the bitcoin trader named Andrew (Andrew) was invited to make a speech about bitcoin, before he was anaesthetized, kidnapped and tortured by a group of people who held bitcoins.

Police said the man was kidnapped by 5 people – two women and three men. They used a hot iron to burn him and threatened his wife, forcing him to transfer the bitcoin to a criminal – controlled account.

In the end, the man was forced to transfer a bit of bitcoin worth about 800 thousand South African rand ($59000) and another $7400 for bank transfers. In addition, the kidnappers took two of his apple phones and two laptops and threw him on the road.

Fortunately, after a severe burn of the victim’s hips, legs, hands and torso, it was recovered after treatment in a local hospital.


Earlier, there were also media reports of another attack on a man who was given water and waxed, and eventually had to reveal the password of his wallet.

Both of these two situations are emphasizing the importance of ensuring personal safety, and the two reasons are due to the personal attack of bitcoin.

Even a super – Secure offline hardware wallet can not stop these physical attacks, forcing you to hand over your private key or transfer your bitcoins.

4 ways to prevent personal attack

Here are some useful measures to protect your assets and your personal safety.

First of all, silence is gold. Don’t reveal to anyone that you have a bitcoin or a fancy bit of bitcoin. But if you encounter such a situation: denial, denial, denial. The important thing to say three times, try to deny that you hold the bitcoin.

Second, you can carry a small amount of encrypted money in an auxiliary account to soothe the kidnapper. Third, you can use multiple technology to prevent your encrypted currency from being transferred to other addresses. For example, another private key can be kept by someone you trust, or stored in an insurance box. In order to avoid more complex situations, do not disclose or write a person with other private keys. Finally, you can use coercion code. This is similar to the authorized canary, and you send out a secret signal to the other private key holders and inform them that you have been kidnapped. Then they will know how to protect the private key without exposing, or knowing that you are in a difficult position. The best state is to use all of these strategies to maximize the security of your money.

Of course, at the end of the day, we want to remind you that bitcoins can’t be worth more than your life. Perhaps the best thing is to give the kidnappers like Andrew to remember that your life is the most precious.

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