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I can say that this method is used by many "companies" in the world to destroy sensitive data - and it is a very secure method.
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Or so they would have you believe.
The most secure method would be to wipe multiple times
and physically mangle the platters. I've heard of places drilling several holes through the disks, melting them, and all sorts of other physical abuses. Strangely, I've yet to hear of anyone actually cutting the platters into several pieces and scattering them in different bags. Maybe the truly paranoid don't speak up.