Man Lost $ 220 Million In Bitcoin Due To Forgotten Password

Currently Stefan Thomas, a German programmer living in California, may well be among the most frustrated people in the world. The reason ? He has forgotten his password, but not just any one since it is the password that will allow him to access his Bitcoin electronic wallet. In this wallet he has 7,002 bitcoins with a total value of $ 220 million today!

According to Thomas, he got the bitcoins in question as a reward for creating an animated bitcoin video during the year 2011. Since then, the price of the cryptocurrency has continued to fluctuate, and has recently reached tops . But unfortunately for the programmer, he forgot the password for his IronKey , an encrypted hard drive that contains the keys to his digital wallet, the same year he received the bitcoins.

Man Lost $ 220 Million In Bitcoin Due To Forgotten Password
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In recent weeks, the value of bitcoin has been steadily increasing. The cryptocurrency reached a value of $ 40,000, just days after it first crossed the $ 30,000 threshold.

His chances are dwindling

According to reports, Thomas tried to introduce eight variations of his most used passwords in an attempt to unlock the IronKey. Unfortunately, this did not work, and the worst part is that the IronKey only allows 10 attempts before being permanently blocked.

In relation to this situation, Bitcoin said that there is nothing they can do since they don't store passwords. They only offer those who buy cryptocurrency a private key corresponding to a digital wallet that can only be accessed by the owner.

In any case, according to Thomas, he has for the moment stored the IronKey in a secure place, hoping that encryption experts will one day help him gain access to his digital wallet again. He also indicated that he made this decision to protect his mental health.

Internet users' reaction

The story of the unfortunate Thomas has not gone unnoticed by Internet users. Many have expressed their horror at this situation. Others say they have anxiety when reading the programmer's story.

There are also those who take the opportunity to make jokes by suggesting for example to enter the word "password" or the sequence "1234".

But feelings of frustration and humor are not the only ones to be expressed on social networks since there are also those who offer their help to open the famous hard drive. One of the Internet users for example indicated that it would be necessary to go see professionals who can find a way to unlock the IronKey. It would be possible to buy 20 more of these encrypted hard drives and spend six months finding a side channel.

Said Internet user also proposes to do so if he obtains 10% of the bitcoins.

In any case, the positive side of the story is that Thomas will not have lost everything since according to the New York Times, apart from those who are stuck in the IronKey, the programmer was able to recover enough bitcoins to be considered a rich man.

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