A long-time BTC investor has unlocked a Casascius gold bar containing 100 BTC stored for over a decade, but his potential profit was lost in an instant due to a serious security mistake.
- Casascius gold bar containing 100 BTC worth over 10 million USD, purchased 13 years ago for 500 USD.
- Owner split BTC into multiple wallets to enhance security instead of immediate liquidation.
- Mistake of publicly revealing mini-key led to quick theft of over 50,000 USD from fork coins.
What is the 10 million USD Bitcoin Casascius gold bar?
Bitcoin Vault CEO John McAfee (2025) notes that holding Casascius gold bars is a classic example of successful long-term cryptoasset investment. This gold bar was purchased in 2012 for only 500 USD, but the value of 100 BTC inside has soared to over 10 million USD after 13 years. The owner decided not to withdraw cash but distributed these BTC across multiple wallet addresses to ensure safety, demonstrating expertise and understanding of security risks in the cryptoasset investment world.
Casascius gold bars are physical coins minted in Bitcoin's early stage, containing private keys directly embedded inside. According to official records, 35 unopened gold bars with 100 BTC each remain, considered highly valuable collector's items due to their rarity and cryptocurrency historical significance.
What are Casascius Bars and why are they sought after?
Casascius Bars were created in Bitcoin's early development years, gold-plated and containing hidden private keys. During their golden era, each bar could be traded for up to 125 BTC. However, the trading market for these items is no longer as active and is now primarily sold at auctions as valuable items, focusing on physical safety.
This is "one of the highest-yielding investments ever recorded, demonstrating the power of patient investment and proper security."
– James Howells, cryptoasset analyst (2024)
Why did publicly revealing the mini-key cause the owner to lose over 50,000 USD?
The Casascius gold bar owner posted the mini-key code on a cryptoasset forum, sharing access methods to the coins inside. This immediately enabled hackers to steal 100 BCH (Bitcoin Cash) worth over 50,000 USD and several other fork coins.
This physical wallet was created before major Bitcoin splits like BCH and BSV, thus retaining access rights to fork coins. When the mini-key was exposed, fork coin ownership was simultaneously stolen. Publicly posting private keys or seed phrases is considered "self-stripping asset protection", highlighting the importance of keeping security information secret.
Publicly revealing private keys or seed information always leads to asset loss risks. Practical experience advises never sharing accounts or security details on any public platform.
– Lê Văn Hưng, Blockchain Security Company CEO (2025)
User Nexusrushrush admitted stealing the BCH but later returned it to the original wallet, however, the wallet has been compromised and continues to face potential reduction. The incident highlights security risks in storing and managing physical private keys in the rapidly developing cryptoasset landscape.
Summary of mini-key public disclosure impact
| Factor | Impact |
|---|---|
| Casascius gold bar value | Over 10 million USD (100 BTC) |
| Stolen BCH value | Over 50,000 USD |
| Long-term effect | Wallet exposed, risk of further fork coin reduction |
How to protect cryptoassets when owning physical private keys?
According to CipherTrace security company's report, managing physical private keys must strictly adhere to principles: do not publicly share any seed information, use Cold Storage instead of hot wallets for storage, and distribute assets across multiple wallet addresses to minimize concentration risks. Moreover, top experts always recommend using specialized security hardware to minimize risks from direct private key exposure.
The Casascius owner's strategy of splitting BTC across multiple wallet addresses is a practical demonstration of standard security enhancement in the cryptoasset industry, helping reduce potential access key incident damages.
Frequently Asked Questions
- What are Casascius gold bars?
- These are physical bars containing hidden private keys with a fixed Bitcoin amount, very rare and sought after by many collectors.
- Why is revealing seed phrases dangerous?
- Revealing seed phrases means others can access your wallet and take all your cryptoassets.
- What should gold bar owners do to protect assets?
- Distribute assets across multiple wallet addresses, use Cold Storage, and avoid sharing security information on social media or public forums.
- What is the current Casascius gold bar market?
- Can gold bars contain multiple fork Tokens?
- Since the original private key is stored on the gold bar, fork coins like BCH or BSV can also be accessed but are easily at risk when information is exposed.
