Normal_Bitcoiner's avatar
Normal_Bitcoiner
Normal_Bitcoiner@nostrcheck.me
npub1m0g9...7s7w
Decoy wallets aren't useful. The only way to preserve your coins in a wrench attack is to be unable to access your funds. Every tutorial recommends setting a passphrase and putting some funds in the no-passphrase wallet as a decoy. You could even leave some funds too in a passphrase wallet and have the majority of your stash in another passphrase. By now any thief would know that. He would ask you to keep opening decoy wallets until you open a ver big one. How big, it depends on the thief. You may even open your true wallet and the thief could keep threatening you, expecting more coins. Depending on how have you managed your privacy and transaction history he may even know exactly how much do you have. So, I think the only realistic way to protect your coins is to be totally unable to comply with the thief. I can think several ways to archive that: - Not having your hardware wallet, neither your seed words at home. If you only hodl, this is not a problem. If you want to spend, you could have some funds in a smaller wallet at home. - A 2 of 3 Multisig, having the other 2 keys in separate location at several hours of travel - Coldcard HW have the possibility to set an alternative PIN which wipes or bricks the device. This is nice, but the thief could know that and threaten you to not use it. I don't know if other brands have something similar. - Coldcard also have the possibility to set some conditions of volume and velocity of your spendings. I think they do it through a Multisig. This is perhaps the simplest solution. Those are not perfect solutions. The thief could get mad, threaten you or even harming you, but relaying in a decoy wallet is a much worse strategy in my opinion. If the thief is rational, if he sees that your are truly unable to access your coins, he should leave you.