Technology

Bitcoin millionaire forgot his password: ‘I’m really desperate’


Stefan Thomas, a German programmer, caught the attention of owning a Bitcoin wallet equivalent to $ 250 million but did not remember the password.

Thomas’s story was posted on New York Times on January 13. Holding the IronKey hard drive containing 7.002 BTC, Thomas was only allowed to test the password 10 times before the entire data was encrypted. In the article, Thomas says there are only 2 attempts left, if entered incorrectly will lose the equivalent Bitcoin number 250 million USD.

“I just lay in bed thinking about the password. Come up with the phrase and go to the computer to try it, but no results. I was really desperate, ”said Thomas.

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Programmer Stefan Thomas caught attention with the story of forgetting the password of a Bitcoin wallet, now worth over $ 250 million. Photo: ABC7 News.

At press time, the bitcoins in Thomas’s wallet are worth more 220 million USD. But after only 4 days, that number is more 250 million USD.

After the above article New York Times attracting attention, Thomas shared more in the interview with KGO-TV. The programmer said that it has been 9 years since he found out that he could not open an account, long enough time to think.

“I was in despair for a few weeks,” Thomas recalls knowing how he won’t be able to find a password in 2012. “You will wonder about your worth. Who would lose such an important thing? “.

However, Thomas said that “time to heal all wounds”, after many years has calmed down when losing huge amounts of money:

“It was a really big milestone in my life, when I realized how self-worth will be defined in the future. However, it’s not about the money in the bank account ”.

Thomas said since the post was on New York Times Noticeable, hundreds of people from all over contacted him for advice:

“Someone told me if I tried to enter ‘password’. Many people introduced me to the psychic, the prophet. Others advised me to take nootropic (memory enhancer) ”.

At the end of the interview, Thomas said sharing the story to warn Bitcoin buyers not to make the same mistake. If you have a crypto wallet, Thomas advises everyone to protect and remember passwords.

According to research firm ChainalysisAbout 20% of the 18.5 million Bitcoin coins are in wallets with locked or forgotten passwords, equivalent 124 billion USD. Wallet Recovery Services, a crypto wallet password finder, received 70 requests for help a day, three times more than the previous month.

In 2013, James Howells, an IT staff in the UK, misplaced a hard drive containing about 7,500 BTC. He is willing to pay 72 million USD let council rummage through hard drives in the landfill.

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James Howells is applying for a license to dig into the city dump to find a hard drive containing 7,500 BTC. Photo: The Guardian.

Ian Sherr, Editor-in-Chief CNETNews think that Thomas’s case is not uncommon. “The way Bitcoin and this technology works is for the sake of anonymity. A lot of data is actually hidden behind a password you must have.

According to Sherr, many people bought Bitcoin years ago when the coin was still very low in value, wrote down the password on paper and no longer noticed.

“Now it’s worth millions. And they are trying to remember where the paper was being thrown, or thinking about the passwords that can be used. ”Sherr advises people to use password management software to avoid the same situation.

According to the Zing / New York Times

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