# kaal:claim:3936876-021

**Claim.** Cold wallets typically lack the multisig feature that is common in hot storage, so the single employee acting as agent for a corporation may be the only access point to the corporate digital assets.

**Type.** failure  **Support.** argued

**Holds when.**

- corporate or treasury holdings in cold storage without multisig

**Source quote.**

> Accordingly, the person who acts as an agent to a corporation who holds the assets on behalf of the company may be the only access point to the corporate assets.

**From.** Wulf A. Kaal, Hayley Howe, *Custody of Digital Assets* (2021), II.2.b Cold Storage, page 18

**Cite as.** Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876

**Verify.** sha256 of source PDF `9bc0903d01910460298e754c451f027df4324367359800a98ee8e638d94aff55` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Howe%20-%202021%20-%20Custody%20of%20Digital%20Assets.pdf

**Failure mode.** single agent key person risk  (family: custody-and-key-loss)

**Topics.** risk-and-incentives

**Keywords.** cold-storage, multisig, key-person-risk, treasury-management

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.