Sure, the U.S. IT professional isn’t the first person in the world to forget his or her password, but it’s certain that memory failure can rarely result in such a loss.
The San Francisco-based programmer Stefan Thomas has only two options left to enter the correct password on his hard drive containing his own bitcoin wallet and gain access to his $ 240 million (nearly $ 71 billion) cryptocurrency assets or fail them permanently.
It’s been a decade since the man made an instructional video on how virtual currency works, for which he was stylishly paid a cryptocurrency. He didn’t even care much about the reward of the 7002 bitcoin, which at the time was only between $ 2-6, so he quickly forgot about it all.
But cryptocurrency has grown into a serious asset in recent years lurking deep in the e-wallet, now approaching $ 240 million each, reaching $ 34,000.
But Stefan Thomas forgot not only about his investment, but also about his password, which would give him access to encrypted private keys containing bitcoin addresses. He’s already tried to enter different passwords eight times, has been unsuccessful so far, and is only two throws away from winning huge or just falling.
The price of bitcoin has been steadily strengthening since the beginning of the epidemic, rising by 700%, although there are declines, and its value increase is lasting.
The increasingly desperate programmer has already tried the 8 most frequently used passwords, if he fails to enter a good string for the tenth, the system will automatically encrypt the entire contents of the hard drive.
The man broke his head a lot at his password as hope finally began to dawn on what he could give at the time, hurried to the plane, but none of it worked so far and all the more desperate.
The whole thing has thoroughly deterred cryptocurrencies, he thinks it’s no coincidence that one doesn’t want to be one’s own bank because no one wants to deal with the things that banks do.
Already received an offer, Alex Stamos, an internet security specialist at the Stanford Internet Observatory, has pledged 10% of the fortune to crack the protection and access the keys in half a year.
Chainalysis estimates that 20% of existing bitcoins were lost with forgotten wallets.
And in 2013, Welsh computer scientist James Howells accidentally ejected a hard drive that contained 7,500 bitcoin keys. At the time, that meant about £ 4 million, today it would exceed a total value of $ 250 million.
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