Schwartz Proposes Split-Control System for Secure Bitcoin Inheritance

Ripple CTO David Schwartz has proposed a plan to secure Bitcoin cold storage and inheritance after the Coldcard wallet hack. The plan uses two hardware wallets configured with the same 24-word seed phrase and PIN, held by different relatives.

The trusted friends would separately hold the PIN, but not the devices or seed phrase. No single person could access the Bitcoin without cooperation from another trusted party, making it a 'nuclear briefcase' approach.

Schwarz compared this setup to hardware wallets that solve both inheritance and theft/loss problems. He mentioned the SecuX W20 as a suitable device for storing private keys away from internet-connected systems.