Multisig and sharing custody to reduce risk

Kent is the CEO of Sazmining and a longtime bitcoiner who previously led large-scale solar operations before building a non-custodial bitcoin mining platform. Recently, he became the victim of a sophisticated in-person scam that resulted in the loss of $220,000 worth of bitcoin.

In this episode, Kent joins The Bitcoin Frontier to share exactly what happened during the scam, what red flags he missed, and why he decided to go public. We dig into the psychology of social engineering, how attackers exploit self-interest, and why even experienced bitcoiners remain vulnerable. We also cover how to build operational security inside a business to mitigate social engineering attacks, how families can prepare for deepfake attacks, and why bitcoin’s immutability still strengthens personal responsibility even in difficult moments.

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TIMESTAMPS:
0:00 – Intro & Kent’s disclosure of a $220k bitcoin scam
3:20 – Why he chose to go public: PSA, law-enforcement pressure, and justice
7:10 – Kent’s background in solar, bitcoin, and building Sazmining
10:05 – The setup: a “family office” deal, travel, and early yellow flags
14:40 – The first meeting in Amsterdam & unusual trust-building exercises
19:00 – How the attackers built credibility and portrayed ultra-wealth
23:15 – The second meeting, Atomic Wallet, and how the sweep unfolded
28:40 – The psychological trap: self-interest, exhaustion, and urgency
34:00 – Why immutability didn’t shake his conviction in bitcoin
37:25 – Internal policy changes: whitelisting, diligence, and cooling-off periods
41:50 – Distinguishing roles: CEO instincts vs. bitcoiner instincts
45:05 – Scam evolution, social engineering, and the danger of urgency
49:20 – Efforts to recover funds & the limits of both private and public options
54:10 – How AI deepfakes raise the stakes for family safety
57:20 – Why code words, local trust, and multisig can protect loved ones
59:40 – Closing thoughts, personal accountability & Sazmining’s mission

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