The Ledger: Cryptocurrency Custody, QuadrigaCX Quagmire, CEOs Pass Bitcoin ‘Torch’

Popular myth holds that pirates of the 17th century would squirrel away bounty beneath the sands of the Caribbean, hiding treasure where no one else might find it. It was a primitive form of security: the less accessible, the better.

A reincarnation of this semi-apocryphal practice has risen, strangely, to become the dominant method for securing virtual wealth in the cryptocurrency era. People use “cold storage,” meaning they stash their private keys--the password-like secrets that grant...

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