A group of billionaires is hiding their fortunes in Bitcoins in underground bunkers

Since the end of 2017, Bitcoin has reached such a high value that almost everyone now knows the term "Cryptocurrencies". Many have become rich with Bitcoin and, therefore, want to protect their money. The form that has occurred to them is to hide their Cryptocurrencies in underground bunkers , as if they were vaults.

A report by Bloomberg has presented an Argentine startup called Xapo, which offers a protection service for Bitcoins and Cryptocurrencies in bunkers with armed guards, so that nobody can steal your cryptocurrency.

You're probably thinking, how are you supposed to store a virtual currency that exists in public Blockchains on the internet, in underground bunkers? The idea of ​​Xapo is not to store the Cryptocurrencies as such, but the encrypted keys and passwords of Cryptocurrency portfolios that users use to claim the amount of virtual currency that belongs to them.

The criminals, to steal from another their Cryptocurrencies, access their portfolios and transfer all the money to another or other accounts. For this they need the encrypted keys, which some store using unsafe emails or notes in Evernote (as happened to that investor who stole millions of dollars in crypto currencies ). Xapo offers to store these keys in servers disconnected from the internet and any other network that are protected in bunkers protected by armed guards.

So far, according to the company, they have the equivalent of some 10,000 million dollars protected in their vaults, which are located in different countries.
Powered by Blogger.