I've been wondering about all these big players (Tesla, Hedgefunds, etc.) investing heavily into BitCoin and other cryptos. What sort of security do they have in place for this? The reason I ask is that unlike regular stocks, bonds and other "traditional" assets, where you have a century or more of security procedures and infrastructure to make sure a disgruntled CFO doesn't buy a one way ticket to Brazil and fly off after transferring all the company money to his personal account, this does not seem to be the case with cryptos.
By that, I mean, the big players still use the same anonymous protocols, programs and exchanges as us plebs use, right? So, let's take Tesla for example. Do they have only one wallet with $1.5 Billion on it, or do they have multiple wallets, each with different passwords? Is only one guy in charge of the accounts or are there multiple people? Is the password written down on a piece of paper on the CFO's desk, or is the password split into three parts that three people know (one per part) to make sure no one person can muck about? Do they do their transactions on their regular work computer or is there a special computer in a locked room that is unplugged from the net except when transactions are made?
OK, I know some of this is a bit far out, but I've just been wondering what sort of things they might deal with since it seems to me it's far, far easier for some CFO to fuck off with the entire crypto stash and then disappear than to do the same with stocks and bonds.
Also... anyone know if something like that has happened? A company or hedgefund loosing a ton of crypto due to lax security?
