Former Ripple Labs employee Stefan Thomas lost the keys to the Bitcoin wallet, where 7,000 coins are stored in the amount of over $ 220 million
Lost keys to the Bitcoin Wallet deprived sleep programmer from California.
Cause for insomnia
How many times repeated the world, keep copies of important information on paper, do not trust all the computer. Stefan Thomas now as no other understands how important it is. He forgot the password to the USB-drive of IronKey, on which his Bitcoin-wallet is located. This is reported by Edition The New York Times.
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Password-protected Flash-drive IronKey with encryption function is automatically blocked after ten unsuccessful access attempts. Thomas has already used eight, he has only two attempts, and if he does not remember the password, all data on the flash drive will be encrypted forever.
Stefan Thomas Has Two Gueses Left to Figure Out a Password That Is Worth About $ 220 Million. HE IS One of the Many People Who Are Locked Out Of Their Bitcoin Fortunes, with An Estimated $ 140 Billion in Lost or Otherwise Stranged Digital Wallets. https://t.co/thdhaixbq8.
- The New York Times (@NYTIMES) January 12, 2021
A programmer of German origin living in California lost a password paper.
He loves and appreciates technology, but the idea that he has cryptocurrency for millions of dollars, but he will never be able to get to it, devouring it from the inside.
Stefan is one of the hundreds of people who have known the opposite side of the idea of "the bank itself." This concept was based on the first cryptocurrency and was prescribed by Satoshi Dzamoto in the Bitcoin project documentation. Now Stefan, a supporter of innovation and technology, looks at it differently.
Alternative Cryptores
The absence of an intermediary is part of the philosophy of the cryptocurrency industry. However, intermediate decisions have already begun to appear in the industry. Some people prefer to use confidential storage services in companies such as Bitgo.Read our overview of the best Bitcoin wallets.
Someone keeps their keys from the Bitcoin wallet in different folders on the computer, someone trusts their bank cells in different parts of countries. This was written about this to be taken by Winclossa in their popular book.
There are a lot of people who want to have access to their bitcoins on the password, store them on the wallets of cryptocurrency exchanges. However, they often become victims of hacking, for example, as it was with Mt.Gox. If you do not take into account futuristic ideas with a quantum computer, the cold wallet is almost impossible to hack.
Normal story
Stefan Thomas is not alone. About 20% of all bitcoins are lost forever. These coins are stored on wallets with forgotten keys or are at addresses that are not given signs of life for many years.
For example, Gabriel Abed, an entrepreneur from Barbados, lost almost 800 bits, when his colleague formatted a computer with keys to the wallet. Fortunately for Gabriel, there was only a small part belonging to him bitcoins, and he just bought real estate on the ocean for $ 25 million.
Ultimately, Thomas admits that he is sin to complain. He had more money than he knew where to spend. Now he develops a coil startup, with which Bill Charitable Foundation and Melinda Gates are cooperating. And the IronKey flash drive is in a safe place. In which - Thomas does not tell anyone.
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