Zero Crypto at Home: Bankless in the Age of Wrench Attacks and Phishing | Jameson Lopp and Beau
Crypto’s newest threat isn’t a smart contract exploit, it’s a knock at your door. In this episode, Ryan sits down with Jameson Lopp (Casa) and Beau (former CIA, now safety at Pudgy Penguins) to map the real security landscape for crypto holders in 2026: the phishing traps you’ll see daily, the physical “wrench attacks” that terrify the community, and the practical systems that can make both dramatically less effective. If going bankless is about freedom, this is the playbook for keeping that freedom without turning into your own security team.
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TIMESTAMPS
0:00 Intro
2:45 The 2026 threat landscape: third parties, privacy, then physical
8:07 Most likely vs most dangerous: phishing vs wrench attacks
17:23 Minimize attack surface + separate your money by risk
20:27 The “3-wallet” model: daily spend, risky ops, deep cold vault
25:08 Hot vs cold: the $1k rule + don’t sign when you’re not sharp
30:01 Social engineering defense: authenticate everything, trust nothing inbound
36:22 Password managers + the 2FA ladder (passkeys/YubiKeys win)
45:05 “Dedicated signing machine” and air-gapped thinking
47:30 Wrench attacks: how targets are found + what the attacks look like
52:50 Why France stands out (and what Dubai’s data shows)
57:37 “Zero Crypto at Home”: multisig + geography + time delays
1:12:27 Duress wallets: why they don’t reliably work
1:16:38 Home hardening checklist: cameras, lights, panic buttons, doors/windows
1:30:59 Onchain privacy reality + tax software pitfalls
1:37:40 Is this a setback for the Bankless vision?
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RESOURCES
Jameson Lopp
https://x.com/lopp
https://casa.io/
Beau
https://x.com/beausecurity
https://beausecurity.substack.com/
RSA’s Article - Zero Crypto at Home
https://x.com/RyanSAdams/status/2016572587363520933
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
How the Attack on Coinbase Shows the Dangers of Centralized Exchanges - Ep. 837
Coinbase revealed on Thursday that cybercriminals bribed overseas customer support contractors to steal sensitive customer data as part of a $20 million extortion scheme. While no funds or private keys were compromised, customer names, addresses, and ID documents were exposed for nearly 1% of the company’s 8+ million “monthly transacting users,” according to a blog post.
The story raises tough questions for the entire industry. Is KYC making users more vulnerable? Can human error ever be fully eliminated? And is crypto’s real security problem… people?
Security experts Jameson Lopp, James Wester and Alexander Leishman delve into:
What went wrong at Coinbase
Why human vulnerabilities are still crypto’s biggest risk
Whether KYC makes the problem worse
What companies should do next to protect their users
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
Focal by FalconX
Bitkey: Use code UNCHAINED for 20% off
Mantle
Guests
Jameson Lopp, Co-founder and CTO at CASA
James Wester, Research Director at Javelin
Alexander Leishman, CEO and CTO at River
Links
Coinbase’s blog post: Protecting Our Customers - Standing Up to Extortionists
Coinbase’s SEC filing
Commentary:
Vance Spencer’s tweet
Armani Ferrante’s tweet
Timestamps:
🎙️ 0:00 Introduction and ads
🔓 2:30 How hackers tricked Coinbase’s offshore support and why humans remain security’s weakest link
🗂️ 6:49 What customer data was leaked and how hackers use it
🎯 13:14 How attackers prey on targets at weak moments
🌍 20:47 Should Coinbase move customer support back to the U.S.?
🛑 26:35 Why KYC protocols might be making users more vulnerable, not safer
🛡️ 28:48 The best defenses companies can implement to protect users
📰33:49 Weekly News Recap
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Crypto Kidnappings and Physical Attacks Are on the Rise—Here’s How to Stay Safe - Ep. 775
The kidnapping of Ledger co-founder David Balland in France sent shockwaves through the crypto community, raising urgent questions about security for high-profile crypto holders. How do you protect yourself when criminals are willing to go beyond digital attacks and resort to violence?
In this episode of Unchained, Jameson Lopp, co-founder and Chief Security Officer of Casa, speaks about the growing trend of “wrench attacks”—physical assaults aimed at forcing crypto holders to transfer their assets. Lopp explains how these attacks are evolving, what makes someone a target, and which geographies are seeing the most attacks.
Plus, he shares what behaviors put you most at risk, how criminals are getting more organized, and why relying on exchanges for security is not as safe as you think.
If you hold significant crypto wealth, this is an episode you can’t afford to miss.
Show highlights:
2:02 How a Ledger co-founder was kidnapped and how the situation was resolved
6:46 Who tends to be targeted and which geographies see the most physical attacks
14:15 The riskiest behaviors that are likely to lead to wrench attacks
16:01 How attackers decide who to target
20:37 How the attacks have been accelerating lately
22:16 How the Ledger team ensured the kidnappers couldn’t access the ransom money
23:44 Jameson’s top tips on how crypto holders can stay safe
29:30 News Recap
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
Mantle
Polkadot
Quai Network
Guest
Jameson Lopp, co-founder and Chief Security Officer of Casa
Links
Previous coverage of Unchained on crypto security:
Here’s How to Protect Your Crypto and Seed Phrases From Natural Disasters
Reuters: Kidnapped co-founder of French crypto firm Ledger had his hand mutilated
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Deep Dive into Bitcoin with GOAT Jameson Lopp (TRIGGER WARNING FOR ETHEREUM COMMUNITY)
Jameson Lopp is the CTO of CasaHODL, a company specializing in Bitcoin security solutions. He has played a pivotal role in developing products and services that empower individuals to safeguard their digital assets. Jameson is a globally recognized voice from his written work on cybersecurity, privacy and the social implementations of Bitcoin. Trigger warning for those in the Ethereum community and beyond as this is a spicy episode that gets gritty with the importance of individual privacy and protecting personal info in the digital age.
0:54 Casa
1:50 The Bitcoin Journey
4:34 Time at BitGo
5:41 Blocksize Wars
9:24 Disappearance of Satoshi
10:49 F*ck You Money
12:17 Bitcoin's major accomplishment
13:12 Why did Bitcoin survive?
14:30 Why did Satoshi not touch his Bitcoin?
17:04 What happens after all Bitcoins are mined?
22:09 Jameson's passion towards crypto
24:10 Bitcoin node syncing
29:50 Decentralization
31:10 Privacy on Bitcoin
32:31 Setting up a home node
33:31 The Swatting Story
43:03 More on Casa
51:36 Self custody
53:10 Casa supporting Ethereum
56:10 Thoughts on Ethereum
59:41 Is $ETH Money?
1:02:06 Bitcoin developers
1:05:06 Evolution of Bitcoin/crypto
1:0838 Bitcoin's Roadmap
1:15:00 How is Jameson Defiant?
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Nick Neuman - Becoming Your Own Bank - [Invest Like the Best, EP. 246]
My guest today is Nick Neuman, CEO and co-founder of Casa. Casa helps bitcoin investors and owners keep their digital assets safe from loss or theft by providing managed self-custody services. In our discussion, we cover the history of asset custody from ancient temples to decentralized ledgers, look at the mechanics of how private keys work, and explore why people are better off holding the keys themselves. We then dive into the future of digital wallets as gateways into our virtual lives, what’s interesting about identity authentication more broadly, and whether these innovations may lead to unintended consequences. Please enjoy this great conversation with Nick Neuman.
For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.
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Invest Like the Best is a property of Colossus, Inc. For more episodes of Invest Like the Best, visit joincolossus.com/episodes.
Past guests include Tobi Lutke, Kevin Systrom, Mike Krieger, John Collison, Kat Cole, Marc Andreessen, Matthew Ball, Bill Gurley, Anu Hariharan, Ben Thompson, and many more.
Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.
Follow us on Twitter: @patrick_oshag | @JoinColossus
Show Notes
[00:03:23] - [First question] - The history of asset custody
[00:07:56] - What private keys are and their role in financial security
[00:12:21] - Overview of storing a token in a wallet and accessing with a private key
[00:15:28] - Thoughts on private keys through the lenses of convenience and safety
[00:18:49] - Solving both self-custody of assets and peace of mind
[00:21:39] - How the user experience will feel once self-custody is properly developed
[00:24:11] - Why asset custody is so interesting and what a perfect scenario unlocks
[00:27:05] - Is the DeFi ecosystem an early manifestation of a self-custody financial system
[00:28:57] - Ways Casa is planning to become a convenient and diverse platform for users
[00:32:16] - The role wallets will play in the future of a digital world
[00:34:56] - Forms of authentication that are most appealing in creating a seamless user experience
[00:37:39] - Overview of what hardware wallets are and how they work
[00:40:17] - Different security options that Casa offers from the simplest to the most secure
[00:44:51] - How many crypto holders there are and how many use self-custody
[00:47:31] - The craziest security set up around Bitcoin he’s ever heard of
[00:48:49] - What the most ideal outcome for Casa looks like in the coming decade
[00:51:26] - Thoughts on the competitive landscape and potential growth challenges
[00:53:07] - Important aspects of the crypto ecosystem other than security
[00:55:49] - How empowered people feel when they successfully adopt self-custody
[00:57:13] - Whether or not there are ways that the current centralized system is more secure
[00:59:58] - Thoughts on offering a way for users to display they are protected by Casa
[01:01:31] - The kindest thing anyone has ever done for him
Why Jameson Lopp burned down his life to live in extreme privacy
After being Swatted, Jameson Lopp decided to burn down every trace of his identity. Even his own family members don't know where he lives. Now, he's using what he learned to build Casa — a secure storage for crypto that he hopes will ease users' transition into financial sovereignty.
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Empire is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like Empire, visit http://blockworks.co/podcasts.
Follow me on Twitter @JasonYanowitz and let me know what you thought of the show!
Oslo Freedom Forum 2019: Protecting Financial Freedoms in the Digital Age - Ep.123
In this panel, recorded at the Oslo Freedom Forum 2019, I moderated what an attendee described as a "lively" discussion on the relationship between finances and freedom with Bitcoin author and educator Jimmy Song; Alena Vranova, Head of Strategy at Casa; and Coin Center founder Jerry Brito. We talked about what it's like to live under a regime where people don’t have a lot of financial freedom, how the move to a cashless society is leading to a surveillance state, and how we're seeing the emergence of a corporate surveillance state. We talked about how cryptocurrency could bring us more financial freedom, how crypto is/should be regulated, privacy coins and the imminent Financial Action Task Forces rules that require crypto exchanges and other services send each other information on customers for each transaction. Plus, we discuss bad state actors using crypto.
Read the show notes on Forbes!
http://www.forbes.com/sites/laurashin/2019/06/11/how-bitcoin-and-cryptocurrencies-can-further-financial-freedom/
Help make Unchained better! Take our survey and enter the giveaway for a free Bitcoin lightning node and a yearlong Casa Gold membership, -- including a multisig security app for iPhone and Android, a Trezor hardware wallet, a Casa faraday bag, and 24/7 support! https://www.surveymonkey.com/r/unchainedsurvey2019
Those of you interested in learning more about Casa, or about protecting your Bitcoin investment generally, should check out my interview with CEO Jeremy Welch. https://unchainedpodcast.com/how-casa-makes-it-harder-for-someone-to-steal-your-bitcoins/ Thank you to Casa for donating!
Thank you to our sponsors!
Kraken: https://www.kraken.com
CipherTrace: http://ciphertrace.com/unchained
Episode links:
Oslo Freedom Forum: https://oslofreedomforum.com
Human Rights Foundation: https://hrf.org
Jimmy Song: https://twitter.com/jimmysong
Alena Vranova: https://twitter.com/AlenaSatoshi
Jerry Brito: https://twitter.com/jerrybrito
Programming Blockchain: https://programmingblockchain.com
Casa: https://keys.casa
Coin Center: https://coincenter.org
FATF rules: https://www.coindesk.com/beyond-kyc-global-regulators-appear-set-to-adopt-tough-new-rules-for-crypto-exchanges
How regulation could spur the development of technology in the crypto space toward more P2P:
Vitalik blog post on this: https://vitalik.ca/general/2019/05/09/control_as_liability.html
Michael Casey on the topic: https://www.coindesk.com/the-cat-and-mouse-game-of-crypto-regulation-enters-a-new-phase
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How Casa Makes It Harder for Someone to Steal Your Bitcoins - Ep.106
Jeremy Welch of personal key security system Casa describes the company's various services and products, including its $10,000-a-year premium service for HODLers of at least $500,000 worth of cryptocurrency and the Casa node. He explains how he came to start Casa, why using seed phrases for managing security of crypto hardware devices is so problematic, and how customers should set up the keys in their possession for the company's multi-signature solution, in which any transaction requires the use of three of five keys. We go on at length at about potential ways in which an attacker could still force a target, say, at gunpoint, to move money to the hacker's wallet. We also discuss why the company doesn't offer a multi-sig solution for ether, why people choose to run Casa's Bitcoin/Lightning node and where people are using Lightning.
Unchained Live With Vitalik Buterin in New York City: Get your tickets here!
https://www.eventbrite.com/e/unchained-live-with-vitalik-buterin-tickets-56189456176
Thank you to our sponsors!
CipherTrace: https://ciphertrace.com/unchained
Microsoft: https://twitter.com/MSFTBlockchain and https://aka.ms/unchained
TokenSoft: https://www.tokensoft.io
Episode links:
Casa: https://keys.casa
Jeremy Welch: https://twitter.com/jeremyrwelch
The Cutting Room Floor: Jeremy Welch of Casa, in which Jeremy answers by email the remaining questions we didn't get to:
https://unchainedpodcast.com/the-cutting-room-floor-jeremy-welch-of-casa/
Casa blog post on the evolution of Bitcoin key management: https://blog.keys.casa/the-evolution-of-bitcoin-key-management/
Ways to store your crypto: https://blog.keys.casa/crypto-101-storing-your-cryptocurrency/
Forbes on Casa's $2 million seed funding: https://www.forbes.com/sites/jeffkauflin/2018/03/02/bitcoin-thieves-beware-super-secure-wallet-maker-casa-raises-2-million/#4c5b2e544230
Casa's seven guiding principles: https://medium.com/casa/seven-guiding-principles-at-casa-92f43e5e546a
Announced after we recorded: Casa's new browser extension: https://blog.keys.casa/casa-browser-extension/
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