It makes sense, if you’re looking to secure a significant amount of bitcoins, to look at how some of the richest bitcoin owners handle their task. These entities are the ones most at risk of making mistakes, even though wealth does not guarantee their infallibility. It is important that they put a lot of thought into and do extensive research on the safety of their bitcoin.
It can be challenging to identify the richest bitcoin owners, and it is not likely to work to ask them for the details of the security they hold. Bitcoin blockchain offers some very valuable data. All transactions and their balances are recorded on the blockchain. bitcoin addresses It is a good idea to use a bilingual translator publicly-available knowledge.
What can we learn?
It’s possible for an entity to own a large amount of bitcoin. They may keep it spread out over many addresses with smaller balances. Those addresses won’t stand out. Sometimes, it is impossible to connect different addresses with a wallet or an owner. Sometimes, an association of addresses is possible, but it requires blockchain analysis. This often relies on assumptions or advanced methods that may not be reliable.
The wealthiest bitcoin holders are difficult to identify, but it is possible. ownThere are a few simple ways to determine the most wealthy bitcoin addresses. It is possible to identify the wealthiest bitcoin addresses. a few websites These addresses can be tracked in real-time. These addresses provide many clues as to how bitcoin is protected.
As an example: if you are familiar with address typesYou’ll be able to tell that an address beginning with A is a valid one. “1” It is also a P2PKH and must therefore be a onesig arrangement. Similar, any address starting with “bc1q” A P2WPKH is an address that has 42 characters and must be a one-signature address. The Bitcoins held in one of these addresses types aren’t using multisig protection. SSS or MPC is the only option to provide institutional grade security. as discussed in our article covering thresholds.
Any address beginning with “a” is also acceptable. “3” It is an address that begins with P2SH. It is any address beginning with “bc1q” A P2WSH is an address that has a maximum length of 62 character. The multisig option is available for these types of addresses. Only after bitcoins are spent from these address types will the custody scheme be revealed. P2SH is a temporary structure, and some P2SH address are singlesig. If one of these addresses has not been used, then the custody structure of that address is unknown.
Look at the Data
Take a look below at 81 of the addresses that each contain more than 10,000 Bitcoin as of 30 January 2024. These addresses collectively hold over 2.5 million Bitcoin.
Bitcoin Balance |
You can also Contact Us |
The Custody System |
248,597 |
34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo |
Singlesig |
204,010 |
bc1qgdjqv0av3q56jvd82tkdjpy7gdp9ut8tlqmgrpmv24sq90ecnvqqjwvw97 |
3 of 5 Multisig |
127,136 |
bc1ql49ydapnjafl5t2cp9zqpjwe6pdgmxy98859v2 |
Singlesig |
115,177 |
39884E3j6KZj82FK4vcCrkUvWYL5MQaS3v |
Unknown |
94,643 |
bc1qazcm763858nkj2dj986etajv6wquslv8uxwczt |
Singlesign |
94,505 |
37XuVSEpWW4trkfmvWzegTHQt7BdktSKUs |
Singlesig |
79,957* |
1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF |
Singlesign** |
73,393 |
3M219KR5vEneNb47ewrPfWyb5jQ2DjxRP6 |
Single Sign |
69,370 |
bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6 |
Singlesign |
68,200 |
3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb |
Singlesig |
66,465 |
bc1qjasf9z3h7w3jspkhtgatgpyvvzgpa2wwd2lr0eh5tx44reyn2k7sfc27a4 |
3 of 5 Multisig |
59,300 |
bc1qd4ysezhmypwty5dnw7c8nqy5h5nxg0xqsvaefd0qn5kq32vwnwqqgv4rzr |
3 of 5 Multisig |
53,880 |
1LdRcdxfbSnmCYYNdeYpUnztiYzVfBEQeC |
Singlesig** |
51,830 |
1AC4fMwgY8j9onSbXEWeH6Zan8QGMSdmtA |
Singlesign |
44,000 |
1LruNZjwamWJXThX2Y8C2d47QqhAkkc5os |
Singlesig |
43,602 |
1Ay8vMC7R1UbyCCZRVULMV7iQpHSAbguJP |
Singlesig |
41,334 |
3LCGsSmfr24demGvriN4e3ft8wEcDuHFqh |
2 of 2 Multisig |
37,932 |
bc1qs5vdqkusz4v7qac8ynx0vt9jrekwuupx2fl5udp9jql3sr03z3gsr2mf0f |
3 of 6 Multisig |
37,927 |
3LQUu4v9z6KNch71j7kbj8GPeAGUo1FW6a |
Unknown |
36,000 |
bc1q7ydrtdn8z62xhslqyqtyt38mm4e2c4h3mxjkug |
Singlesign |
32,321 |
12XqeqZRVkBDgmPLVY4ZC6Y4ruUUEug8Fx |
Singlesig |
32,019 |
3MgEAFWu1HKSnZ5ZsC8qf61ZW18xrP5pgd |
Two-of-three Multisig |
31,643 |
bc1qx9t2l3pyny2spqpqlye8svce70nppwtaxwdrp4 |
Singlesig |
31,379 |
bc1qjh0akslml59uuczddqu0y4p3vj64hg5mc94c40 |
Singlesig |
31,275 |
3FHNBLobJnbCTFTVakh5TXmEneyf5PT61B |
Unknown |
31,000* |
12ib7dApVFvg82TXKycWBNpN8kFyiAN1dr |
Singlesign** |
30,175 |
bc1qf2yvj48mzkj7uf8lc2a9sa7w983qe256l5c8fs |
Singlesig |
28,151* |
12tkqA9xSoowkzoERHMWNKsTey55YEBqkv |
Singlesig** |
26,140 |
1aXzEKiDJKzkPxTZy9zGc3y1nCDwDPub2 |
Singlesig** |
24,606 |
19N9sDbJ7MDQcPFSjPNqjNDzyRNbNsQ6Zv |
Singlesig |
24,495 |
17MWdxfjPYP2PYhdy885QtihfbW181r1rn |
Singlesig |
24,067 |
38UmuUqPCrFmQo4khkomQwZ4VbY2nZMJ67 |
Two-of-six Multisig |
23,969 |
19D5J8c59P2bAkWKvxSYw8scD3KUNWoZ1C |
Single Sign |
23,922 |
3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN |
Three-of-eight Multisig |
23,789 |
1m5SViB9XNwsusvnnUqpfL9Q1E5EZxPHs |
Singlesig |
22,514 |
15cHRgVrGKz7qp2JL2N5mkB2MCFGLcnHxv |
Singlesig |
22,221 |
bc1qr4dl5wa7kl8yu792dceg9z5knl2gkn220lk7a9 |
Singlesig |
20,544 |
bc1qm34lsc65zpw79lxes69zkqmk6ee3ewf0j77s3h |
Singlesign |
20,008 |
17rm2dvb439dZqyMe2d4D6AQJSgg6yeNRn |
Singlesig |
19,852 |
39gUvGynQ7Re3i15G3J2gp9DEB9LnLFPMN |
Singlesig |
19,679 |
3EMVdMehEq5SFipQ5UfbsfMsH223sSz9A9 |
Four-of-eight Multisig |
19,414* |
1PeizMg76Cf96nUQrYg8xuoZWLQozU5zGW |
Singlesig** |
18,500 |
bc1qkz55x35wlnrkrn5n0nq4wwsme9vszrwavu5qf4 |
Single Sign |
18,320 |
bc1qlhpkdeaaa345c4dw90hmvm3nn2r32f9jdj2v2p |
Singlesig |
17,969 |
bc1qtrxc0use4hlm7fl0j6t37z7qlwl5eppj8lywz6 |
Singlesig |
17,945 |
bc1qhk0ghcywv0mlmcmz408sdaxudxuk9tvng9xx8g |
Single Sign |
17,928 |
bc1qcdqj2smprre85c78d942wx5tauw5n7uw92r7wr |
Singlesig |
16,858 |
bc1q5vwscmf85w2vlq0qvr33dgpvu5rlrd42cqw6qn |
Singlesig |
16,610 |
3FupZp77ySr7jwoLYEJ9mwzJpvoNBXsBnE |
Two-of-three Multisig |
16,453 |
bc1qx2x5cqhymfcnjtg902ky6u5t5htmt7fvqztdsm028hkrvxcl4t2sjtpd9l |
2 of 2 Multisig |
16,348 |
34HpHYiyQwg69gFmCq2BGHjF1DZnZnBeBP |
Unknown |
16,307 |
1BAuq7Vho2CEkVkUxbfU26LhwQjbCmWQkD |
Singlesig |
16,227 |
1N4WQbt63gnThPwHFZ1w9adEnE1xB8ctXk |
Singlesig |
16,231 |
bc1qchctnvmdva5z9vrpxkkxck64v7nmzdtyxsrq64 |
Singlesign |
16,224 |
1932eKraQ3Ad9MeNBHb14WFQbNrLaKeEpT |
Singlesign |
15,900 |
32TiohXoCmHr87xVm3E9A3sLiWBJjYn1gf |
4 of 6 Multisig |
15,746 |
3JZq4atUahhuA9rLhXLMhhTo133J9rF97j |
Singlesign |
15,392 |
1GR9qNz7zgtaW5HwwVpEJWMnGWhsbsieCG |
Singlesig |
15,251 |
1KDWnWQNSGZZ8QHcKPgzz3DGRkmgVv9HhJ |
Singlesig |
14,676 |
bc1qvhxafz8dqk8c25jsx669yd6qrxhl5dx72dyryp |
Singlesign |
14,599 |
35pgGeez3ou6ofrpjt8T7bvC9t6RrUK4p6 |
Two-of-three Multisig |
14,000 |
1BZaYtmXka1y3Byi2yvXCDG92Tjz7ecwYj |
Singlesig |
13,805 |
3NpXph8WN1U9hwXjg1bRtzTff1tPR2Gpw4 |
Unknown |
13,003 |
bc1q4vxn43l44h30nkluqfxd9eckf45vr2awz38lwa |
Singlesig |
12,891 |
1KVpuCfhftkzJ67ZUegaMuaYey7qni7pPj |
Singlesig |
12,858 |
1CiAnTJn6eHTU89PeihdMhT7KcQZxVZ4fy |
Singlesig |
12,840 |
3BMEXqGpG4FxBA1KWhRFufXfSTRgzfDBhJ |
Three-of-four Multisig |
12,803 |
3HfD4pvF43jdu9dzVMEr1b8AnDHooRGc5t |
3 of 9 Multisig |
12,795 |
1DNUjpHPNKMoKYBHxJz2Sh1uQQdJkGsXj5 |
Singlesign |
12,267 |
1PJiGp2yDLvUgqeBsuZVCBADArNsk6XEiw |
Singlesig |
11,985 |
1CKVszDdUp4ymGceAZpGzYEFr4RPNHYqaM |
Singlesig |
11,673 |
3A9qNS69dngSU2ak8BwZKEExeVnL2RqpYJ |
Unknown |
11,400 |
1Cr7EjvS8C7gfarREHCvFhd9gT3r46pfLb |
Singlesig |
11,115 |
bc1qgrvchamnmmaancn3vwea6elnvexpylzh30rhjz |
Singlesig |
10,840 |
bc1qk7fy6qumtdkjy765ujxqxe0my55ake0zefa2dmt6sjx2sr098d8qf26ufn |
3 of 5 Multisig |
10,771* |
1F34duy2eeMz5mSrvFepVzy7Y1rBsnAyWC |
Singlesig** |
10,500 |
bc1qhd0r5kh3u9mhac7de58qd2rdfx4kkv84kpx302 |
Singlesig |
10,486 |
bc1q93njc4we4s088a2nz6c9e6vthc5h4ake53rxmd |
Singlesig |
10,217 |
1Q8QR5k32hexiMQnRgkJ6fmmjn5fMWhdv9 |
Singlesig |
10,009* |
1f1miYFQWTzdLiCBxtHHnNiW7WAWPUccr |
Singlesig** |
10,002 |
bc1qsxdxm0exqdsmnl9ejrz250xqxrxpxkgf5nhhtq |
Singlesig |
*Likely lost
**Not using MPC
Six of the 81 addresses hold bitcoins that are likely to get lost. (179 302 BTC). They were all created in 2010 and 2011 by the addresses’ owners, when bitcoin was worth less than it does today. Five of these six addresses were never used and one was last withdrawn in July 2010
Other 75 addresses are supervised in different ways. We’ll break this down.
Address Type |
Addresses (%) |
Bitcoin Total Balance (%) |
Singlesign |
53 (70.7%) |
1,745,905 (67.6%) |
Multisig |
16 (21.3%) |
608,773 (23.6%) |
Unknown |
6 (8.0%) |
226,205 (8.8%) |
As explained in our article discussing institutional-grade threshold securityThe 53 addresses that use singlesig are likely to be using SSS or MPC. It’s unlikely that two addresses use MPC as they were not created after 2018, when ECDSA introduced the first MPC threshold protocols. These addresses could be using SSS.
All 16 of the addresses we are aware use multisig were spent, and their quorum structures have been revealed. Quorums come in many different forms:
- There are 4 different instances of the 3-of-5
- Three instances of 2 out of 3
- There are 2 instances of 2-of-2
- 3 of 9 in 1 case
- 4 of 8 in one instance
- One instance of 3 out 8
- One instance of 4 out of 6.
- 3 of 6 in 1 case
- 2 of 6 in 1 case
- 3 of 4 in one instance
Two-of-two quorums are the only ones on the list that do not offer protection against single points of failure. A distributed 2-of-2-multisig is able to prevent theft but requires additional methods for protection against loss. Read more on how different quorums can protect against theft and loss in varying degrees. in our broader multisig article.
Conclusions
One thing becomes clear after looking at the numbers. Among the owners of the wealthiest bitcoin addresses—some of whom include the biggest cryptocurrency exchanges and even the U.S. Department of Justice—there is no consensus on the best method to secure bitcoin.
These entities also use multisig, which can have typical quorums, such as 3-of-5 and 2-of-3, or they may even be using a more unusual quorum. Singlesig addresses are used by many entities, and could use SSS or the MPC. As the details of SSS threshold quorums or MPC quarums are not publicly documented on the Blockchain, this investigation is limited. There’s a possibility that these single-signature addresses don’t use any kind of threshold security. This would indicate that certain bitcoins currently valued at more than $400M have been undersecured.
We have covered this in an article that was published recently. articleMultisig always has a higher security ceiling Singlesig is less secure than doublesig. If a singlesig is used, as is the case for at least 70% addresses that hold more than 10,000 BTC, there’s a lost opportunity to add additional security. Although singlesig does provide some benefits One might think that security is more important to an entity than convenience or transaction fees when it comes to spending bitcoin.
It is not clear why the use of singlesignature addresses at top-level positions has become so common. There may be a history of lack of awareness or products and services that leverage the combination of SSS with MPC along side multisig. Unchained pioneered the path for accessing these combinations and unlocking maximum levels of security. For private wealth and enterprise clientsWe offer an institutional vault built on a multisig foundation, with keys that are distributed amongst institutions. key agents. They can each deploy their own SSS/MPC threshold security is a good way to ensure that your home or business has the necessary protection. Book a free consultation!
Original published by Unchained.com.
Unchained Capital, the US Collaborative Custody Partner of Bitcoin Magazine is also an integral sponsor for related content that appears in Bitcoin Magazine. Please visit Unchained for more information about services provided, custody products, as well as the relationship between Unchained & Bitcoin Magazine. our website.
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Source: bitcoinmagazine.com