Wealth Security Protocol
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  • 🗺️Overview
  • 💜Casa vs. Alternatives
    • Introduction
    • Option #1: Do-it-yourself
    • Option #2: Custodial Storage
    • Option #3: Commercial Systems
  • 🔑System Design Principles
    • Introduction
    • Minimal Knowledge
    • High Security
    • Usability is Security
    • Expert Support
    • Redundancy
    • Sovereignty
    • Incentive Alignment
  • 🚨Threat Overview
    • Introduction
    • Data and Credential Loss
    • Phishing
    • SIM Hijacking
    • Network Attacks
    • Malware
    • Supply Chain Attack
    • Physical Coercion
    • Child/Pet Attack
    • Internal Service Provider Attack
    • Platform / Hosting Provider Attack
    • Code Dependency Attack
    • Official Seizure
    • Inheritance Failure
  • 🔐Chosen Features
    • Introduction
    • Hardware Wallet Signing
    • Multi-signature
    • Multi-location
    • Heterogeneous Hardware and Software
    • Seedless Hardware Wallets
    • Emergency Recovery Key
    • PIN or Biometrics for Mobile Key only
    • PIN for every device
    • Sovereign Recovery Instructions
    • Emergency Lockdown Button
    • Health Check
    • Identity Verification for Account Recovery
    • Inheritance
  • ✅Chosen Key Schemes
    • 5-Key Vault
    • 3-Key Vault
    • Pay Wallet
  • ❌Rejected Key Schemes
    • Shamir's Secret Sharing
    • 2-of-2
    • 1-of-2
  • ❌Rejected Features
    • Biometrics General Usage
    • Brain Wallet -- Memory Based Solutions
  • 🔧Remaining Attack Vectors
    • Address Spoofing
    • Malicious Insider Key Theft
    • Extreme disaster scenarios
    • Extortion
  • 👨‍🚀Future Improvements
    • Taproot/MAST
    • Schnorr Signatures
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  1. 🚨Threat Overview

Inheritance Failure

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Last updated 1 year ago

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There have been many cases of inheritance failure when a key holder fails to adequately prepare for their death. The family of Ripple mogul lost assets worth $500 million when he died suddenly and unexpectedly without an inheritance plan. To protect his holdings against theft, he kept the storage details of his cryptocurrency wallets secret, but it was so secret that nobody could recover them after his death. This is an especially heartbreaking way to lose crypto assets, as the surviving family is motivated to partake in painful and often fruitless scavenger hunts in search of the deceased's fortune.

Mitigation:

  • Have an inheritance plan. Don’t assume that your heirs will be able to recover your funds without guidance.

  • Use Casa's built-in inheritance functionality in order to share keys with your executor / beneficiary.

  • Learn more about how .

Matthew Mellon
Casa Inheritance works here