Covenants & Reactive Security

Chris Seedor joins the podcast to discuss the terrifying rise in physical Bitcoin attacks and how to mitigate risk. We cover stainless steel backups, multi-sig setups, and why AI-driven phishing is changing the security game forever.

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Chris Seedor of Seedor & Bitsurance joins us to talk about the rising threat of physical "wrench attacks" and advanced Bitcoin self-custody. We discuss the 70% spike in violence against BTC owners, using Miniscript for time-locked security, and how AI-driven phishing is bypassing video IDs. Chris explains why simple seed phrases are high-risk and how protocol changes like covenants could revolutionize reactive security for all holders.

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Notes:

* Physical attacks up 70% since 2024 

* 74 documented Bitcoin physical attacks 

* 1 in 10 kidnappings resulted in death 

* Successful attacks occur 66% of the time 

* $1.5B Ethereum stolen in Bybit hack 

Timstamps

00:00 Start

03:26 Chris has a real job?

05:40 Hardware wallet vs steel backup?

08:12 Understanding your risk surface area

11:17 Attacker landscape

15:50 Shift in mindset

17:10 Even smart people get scammed

18:38 AI supercharging scams

20:50 New ways of securing your BTC

23:48 What's happening technically

25:58 Security on other chains

28:42 Softforks

31:53 Tools for the baddies (ordinals / runes)

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