G4S, a multinational security company based in the UK has developed a “high-security” offline storage solution for cryptocurrency and other digital assets. Relying on its expertise in securing high-valued items and its risk consulting experience, G4S is delving into the crypto industry to offer secure, cold storage for virtual currencies.
Mainstream adoption of cryptocurrency has unwittingly drawn the attention of criminal elements. This year alone has seen the loss of nearly $1 billion worth of cryptocurrencies to security breaches. These thefts usually involve gaining unauthorized access cryptocurrencies stored in exchanges’ hot wallets. Even cold storage has not proven completely unbreachable with cases of kidnappings and armed robberies.