Originally published on: September 26, 2024
Unbelievable but true! A massive Bitcoin stash is safeguarded in the depths of a secret nuclear bunker nestled in the Swiss Alps.
The security at this location is next-gen, utilizing multiparty computation shards to fortify one of the world’s premier Bitcoin banks, offering unparalleled protection to digital assets.
The age-old proverb “not your keys, not your coins” rings true for Bitcoin owners. But stowing away your hardware wallet or seed phrase beneath your mattress won’t cut it. With an estimated 2 million BTC lost forever, choosing where and how to store your Bitcoin is a daunting decision.
Venture into the Swiss Alps to discover a fortified vault housing over $100M worth of Bitcoin, explored firsthand by Cointelegraph. Here’s a glimpse inside this state-of-the-art facility:
Some find solace in leaving their BTC on an exchange, while others opt for cold storage solutions. Exclusive banks like Xapo Bank have taken digital asset protection to new heights by leveraging underground bunkers for safeguarding Bitcoin.
The journey begins with a drastic security screening to access the bunker. Past the military-grade 6-ton vault door, intricate biometric scans and barriers flood the space, blocking unauthorized entries. Only a select few with specialized permissions can navigate the labyrinth inside the heavily fortified Swiss bunker.
The innermost chamber, holding the MPC shard essential for signing transactions, boasts an unbreachable fortress guarded by robust redundancies. This geographical isolation eliminates the risk of consolidated control, maintaining the utmost security for BTC holdings.
Utilizing cutting-edge technology like homomorphic encryption, Xapo Bank has transitioned to MPC technology, eliminating manual multisig signing processes. This transformation not only ensures comprehensive security but simplifies the process for handling private keys.
Witness the cooking analogy shared by Xapo Bank’s chief information security officer, suggesting a collective effort akin to chefs preparing a dish – each bringing a unique ingredient to create a harmonious blend, without revealing individual contributions – showcasing how MPC technology secures Bitcoin transactions without exposing private keys.
The ongoing expenses to operate these stark bunkers reflect the unwavering commitment to fortify digital assets. Choosing the bank’s advanced security over self-custody emphasizes a wise choice for Bitcoin holders seeking top-tier protection.
Embark on this intriguing journey into the heart of one of the world’s most secure Bitcoin vaults, concealed in the depths of a Swiss nuclear bunker, unveiling an extraordinary blend of historic construction and advanced technology.
Disclaimer: Cointelegraph received a personal invitation to explore Xapo Bank’s vault; travel and accommodations were covered by the company – ensuring an exclusive and authentic experience.
