Right now, he said that the family stopped posting travel updates as well as vlogging due to people identifying his family's location. It really is better to keep a low profile especially if you know you are wealthy. Do you think his system is a smart one?
Afaik they are already known and with photos in newspapers, so the train of keeping low profile is long gone. And imho these news on how small amounts one can get from them are desperate attempts: I can guess that if one of the family member is taken hostage for ransom they will try to rescue him, hence find the access to their money.
Of course, I truly hope that this kind of scenario will never happen to them, but given what I said, I think that they need better approach than encryption.
He said that they ditched their hardware wallets and instead went for part analog and part digital. Their seed phrases are said to be encrypted in encryption services or hidden across four continents.
And yeah, this sounds tough, but imho it achieves absolutely nothing.
No matter how much I hate fiat, I think that they need to diversify heavily, i.e. start having big amounts of other types of wealth. And then if they ever need to give out some coins, so be it, family and health are more important than money. And some of their money/wealth/properties remains on their name so they can just go on.