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I’m smart enough to have given a friend my 1Password emergency recovery kit and, I tell you now, that ain’t worth $200m.
> The largest individual user account balance is valued at $70-million.
Full text: https://outline.com/nVDP65
Yet another aspect of crypto's long term ignored consequences come to light. i haven't seen ANY possible solution for transfer of crypto after original owner's death. even ethereum doesn't have this simple ability inbuilt(which you'd think would be obvious). this basic question gets downvoted on any forum you'd think of - husband/wife has large amount of money in crypto, they die due to unforeseen circumstances(or ev…
Of course at this point you are (sort of) trusting a bank with your money (so why are you using crypto, again?) but it's probably safe and the safe deposit box + its contents would pass through all the usual legal procedures around an estate and more than likely pass safely to the intended beneficiary.
Edit - This is a conspiracy theory but it doesn’t mean it’s totally crazy - there is a good chance this “dead” CEO is still alive. Very shortly before his death he got his affairs in order and flew to India. Then it’s reported he died along with a death certificate from India. Now they can’t find $200mil in crypto and are not reporting the cold storage addresses. Would not surprise me if there has been massive fraud…
The trip to India was supposed to open an orphanage. This orphanage was built by an organization that accepts large donations for specific buildings such as orphanages or water wells. For an orphanage, it costs $ 50,000.
It did not seem to me, when visiting this organization's website, that they have full transparency about these negotiations and these expenses.
And so far they have not released addresses for cold wallets. Okay, he had the private key. But public keys would have to be known by the system.
Edit - This is a conspiracy theory but it doesn’t mean it’s totally crazy - there is a good chance this “dead” CEO is still alive. Very shortly before his death he got his affairs in order and flew to India. Then it’s reported he died along with a death certificate from India. Now they can’t find $200mil in crypto and are not reporting the cold storage addresses. Would not surprise me if there has been massive fraud…
Also, to feed the conspiracy theory that this is a fraud: They are claiming he died from Chron’s disease which is highly unlikely. It seems like a plausible deniability move. He probably has Chron’s disease and that can be easily proven through his medical history. Also is easier to tie that, to a story in which he couldn’t get the right treatment for his Chron’s disease complications abroad.
Earlier quoted context omitted.
Also, to feed the conspiracy theory that this is a fraud: They are claiming he died from Chron’s disease which is highly unlikely. It seems like a plausible deniability move. He probably has Chron’s disease and that can be easily proven through his medical history. Also is easier to tie that, to a story in which he couldn’t get the right treatment for his Chron’s disease complications abroad.
Dying from complications related to Crohn’s is not out of the question, especially in places that don’t always have the best health care.
Color me surprised... surely not another crypto heist. This is going to keep happening, over and over again. Put your money in this stuff at your own peril.