Head of Private Wealth @onrampbitcoin Advisor @Early_Riders First Principles podcast
Minnesota
Joined July 2019
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if you've held bitcoin for 5+ years, I bet your financial life looks like this
DCA running with River, Swan, or Strike
custody with unchained, casa, or DIY hardware wallets
separate IRA account
bitcoin backed loan with another account
cash sitting in a bank paying 0.01%
you've got a system but it's fragmented and increasingly complex
and when your wife asks you "where could I find the bitcoin if you die?" there's no easy answer
👇
Cam Stromme retweeted
Like the Coldcard exploit this summer, the Binance hack reminds us how devastating a single point of failure in Bitcoin custody can be.
That's why I'm glad to keep a portion of my Bitcoin with @OnrampBitcoin.
Visit onrampbitcoin.com/bn to sign up for a free consultation.
Cam Stromme retweeted
Bitcoin is the only asset with native multisig in the protocol itself. Requiring more than one key to move funds runs on code that has secured bitcoin for over a decade.
Everything else is proprietary and still needs years of hardening.
[@MTanguma on The Last Trade]
Cam Stromme retweeted
If you think Binance can get hacked but the ETFs can't, you are a special kind of special.
come on in and join @BackslashBTC and I in the Crucible, we're live now
binance hacked last night, trezor compromised this morning
both ends of the spectrum are breaking
there's a Third Way to custody bitcoin
multi-institution custody
TREZOR WARNS CUSTOMERS TO MOVE FUNDS AFTER HARDWARE IMPLANT DISCOVERED IN WALLET SOLD BY FORMER AUTHORIZED RESELLER
Trezor has issued an urgent security warning after receiving a credible report of a malicious hardware implant inside a Trezor Safe 5 purchased from CryptoBilis, its former authorized reseller in Southeast Asia.
The device, purchased in Indonesia through Tokopedia in August, reportedly contained an additional circuit board installed between the main board and screen, equipped with a cellular module and antenna.
According to the report, the implant can read information displayed on the wallet’s screen, including the recovery seed phrase, and transmit it to attackers over a mobile network whenever the device is plugged in.
Trezor has not yet physically examined the device but says photos and a video interview with the customer were convincing enough to warrant an immediate warning.
The discovery follows a sophisticated supply-chain attack involving Ledger wallets sold through the same reseller, which Ledger began investigating on October 9.
Trezor removed CryptoBilis as an authorized reseller that day.
The company is now urging anyone who purchased ANY Trezor model from CryptoBilis since March 2026 to immediately transfer their funds to a new wallet with a newly generated recovery seed.
Simply restoring the potentially compromised seed phrase on another device will NOT protect the funds.
Trezor says no customer losses have been reported in connection with the suspected implant. The company is offering affected buyers free replacement devices or vouchers and is working with Ledger and security investigators.
The identity of the attackers remains unknown, and there are currently no reports involving other Trezor resellers.
Cam Stromme retweeted
Bitcoin has a custody problem, and everyone's afraid to admit it because they don't have a viable, scalable solution.
Luckily, there's now A Third Way that doesn't require you or your family to take on the whole burden or leave it with a single institution.
This mission and journey are worthwhile, because I don't see bitcoin succeeding unless we find a radical new way to custody, a radical new asset.
And the world needs bitcoin to succeed.
If you are interested in joining us on this journey as a client, partner, or working at @OnrampBitcoin - reach out over DMs, email, or book a consult below.
single points of failure are increasingly being exploited
the only way forward is eliminating those single points of failure
multi-institution custody achieves that goal better than anything else, by far
Cam Stromme retweeted
A single point of failure will eventually become a single point of failure.
If it can happen to Binance, don’t fool yourself that it can never happen to Coinbase (aka the ETFs).
Market structure must evolve.
Cam Stromme retweeted
It was always Multi-Institution Custody
@OnrampBitcoin 🤝🏻
Cam Stromme retweeted
TREZOR WARNS CUSTOMERS TO MOVE FUNDS AFTER HARDWARE IMPLANT DISCOVERED IN WALLET SOLD BY FORMER AUTHORIZED RESELLER
Trezor has issued an urgent security warning after receiving a credible report of a malicious hardware implant inside a Trezor Safe 5 purchased from CryptoBilis, its former authorized reseller in Southeast Asia.
The device, purchased in Indonesia through Tokopedia in August, reportedly contained an additional circuit board installed between the main board and screen, equipped with a cellular module and antenna.
According to the report, the implant can read information displayed on the wallet’s screen, including the recovery seed phrase, and transmit it to attackers over a mobile network whenever the device is plugged in.
Trezor has not yet physically examined the device but says photos and a video interview with the customer were convincing enough to warrant an immediate warning.
The discovery follows a sophisticated supply-chain attack involving Ledger wallets sold through the same reseller, which Ledger began investigating on October 9.
Trezor removed CryptoBilis as an authorized reseller that day.
The company is now urging anyone who purchased ANY Trezor model from CryptoBilis since March 2026 to immediately transfer their funds to a new wallet with a newly generated recovery seed.
Simply restoring the potentially compromised seed phrase on another device will NOT protect the funds.
Trezor says no customer losses have been reported in connection with the suspected implant. The company is offering affected buyers free replacement devices or vouchers and is working with Ledger and security investigators.
The identity of the attackers remains unknown, and there are currently no reports involving other Trezor resellers.
CryptoBilis update
We've been made aware, through responsible disclosure, of a single hardware implant in a Trezor Safe 5 device bought from the reseller CryptoBilis in August 2026.
No CryptoBilis buyer has reported a loss of funds to us.
IMPORTANT: If you bought a Trezor from CryptoBilis from March 2026 onwards, we know this is unsettling. Here’s what to do:
Already using it?
Move your funds to a newly created wallet with a new seed as soon as possible. Do not reuse the old seed in any wallet, hardware or software. If you don’t have another secure hardware wallet available, we recommend temporarily migrating your funds to a software wallet or an exchange you are familiar with.
Not set up yet? Don’t set it up, and never enter your existing wallet backup on it.
We haven’t received the device to confirm this report, but based on the customer’s description, we’re treating it as credible and sharing it now so customers who purchased a Trezor via CryptoBilis can secure their funds as a precaution. Our security team will examine the device as soon as it arrives.
On October 9, 2026, we removed CryptoBilis as a reseller following reports of tampered Ledger devices sold through it. Since then, we have been inspecting Trezor devices that customers bought from CryptoBilis and have found no signs of tampering on any of the four devices we’ve received so far.
NEVER share your wallet backup (recovery phrase) with anyone. Trezor Support will never ask for it.
If you are affected by this incident, please keep your CryptoBilis device and contact Support to receive a new Trezor hardware wallet: trezor.io/support#open-chat
We're investigating and will post updates here as soon as we know more. Thank you to the customer who reported this through our responsible disclosure program, and to @SEAL_911 for working alongside our teams on the response. Reports and engagement like this help us protect everyone else.
For more information, visit our blog: trezor.io/blog/news/implant-…
Cam Stromme retweeted
It’s almost like multi-institution custody is going to be the standard. Past several months have made it obvious.
Cam Stromme retweeted
BREAKING: The crypto industry has now seen an estimated 750 security incidents in 2026, with total potential losses reaching $9.0 billion.
This marks a +133% increase in total losses compared to 2025 levels.
2027 will be the year of cybersecurity investments.
Cam Stromme retweeted
This is all true from James, but incidents like this stifle go forward adoption of the asset.
The average person thinks bitcoin gets stolen by North Korea or ends up in a landfill, so why bother?
This has always been the case, but the frequency of vulnerabilities across both self custody and third party custody have obviously accelerated over the past few months.
If people cannot reliably secure the asset for the long term, the value prop of digital sound money deteriorates, full stop.
If we want this thing to scale to be global money, the answer can’t be roll more dice, geodisperse your diy multisig or just park it in the ETF that outsources custody to a single crypto casino.
We need market structure to evolve towards hardened, collaborative, interoperable, fault tolerant solutions with no single point of failure, whether it be an individual, a device, or an org.
The reality is not everyone wants to manage key material in perpetuity, taking on the technical burden and physical risk. And centralizing the asset in single custodians just creates larger honey pots and raises the risk of manipulation à la gold.
Bitcoin is not inevitable. People need to be able to know they can confidently own it for generations or they won’t adopt it as a savings tool.
Good evening.
To everyone reading about the $5.9 billion Binance hack and declaring cryptocurrencies and Bitcoin dead, two things:
1) Bitcoin itself was not hacked, an exchange managing cryptocurrency wallets and holding the keys was hacked.
2) Former CEO CZ says that he expects Binance to fully cover the losses with their $144B balance sheet.
This event in no way shape or form exposed or impaired the Bitcoin network.
Have a great night.
there has to be a third way. exchanges and hardware wallets are getting hacked nonstop these days
🚨 OVER $5 BILLION REPORTEDLY MOVED FROM BINANCE-LINKED WALLETS IN SUSPECTED HACK
On-chain analysis suggests attackers exploited Ethereum’s EIP-7702 delegation feature to drain assets, including $1.6 billion in USDT and another $780 million in USDC.
Binance says user funds remain safe and an investigation is underway.
Cam Stromme retweeted
@OnrampBitcoin held in multi-custodian multi-sig addresses.
Cc: @macrojack21 @BackslashBTC @MTanguma