Brazil Residents Turn to Physical Vaults for Cryptocurrency Safety

Out of a Movie

With cryptocurrencies appreciating many folds over the last few years, theft of the digital assets is on the rise. Thieves are getting more daring in their attempts, with many leaving the realm of the digital and actually beating known crypto holders to get hands on the private keys.

This has fueled the rise of old style physical safes and vaults, where crypto owners can keep their hardware wallets safe from thieves. Once a near dead industry, the safe business has seen a revival. The industry has updated its security though.

Sekurois such a company that is using the latest in security to offer one of the safest ways to store a physical asset such as a hardware wallet. The company offers a military style bunker safe, with thick, steel reinforced armored doors. The doors are tandem, with a total of 7 in number. To access the vault, a person has to go through all of the seven doors.

Each door is further secured by a biometric and infrared palm reader. The scanner goes through more than 5 million different points on a hand and then looks deep below the skin through its infrared scanner (looking at heat flows from the blood in the hand) to ensure that only authorized persons can have access to the vault- something out of a movie.

Justified Overkill

The security may seem a tad overkill, especially with a monthly rent that varies from around USD 100 to USD 230. Yet, with the increasing robberies, this might just be justified.

KriptoBR, the official re-seller of Trezor and Ledger hardware wallets, had a large stock of 150 Ledger Nano S and 35 Trezor Model T stolen from the owner’s home.

Earlier that month, a known Bitcoin investor from South Africa was contacted by a group of people who wanted him to give a lecture on Bitcoin and other cryptocurrencies. When he arrived at the designated location, he was drugged and abducted, being beaten nearly to death for his private keys.