Stefan Thomas, a former Ripple Labs executive has almost certainly lost over 7,002 Bitcoin just for forgetting the wallet password
When Bitcoin rises, there will certainly be new billionaires born, but there will also be extremely regretful people. But if you have never bought Bitcoin, your regret will not be as great as those who have already bought Bitcoin but have no opportunity to liquidate it. This is the case with Stefan Thomas, former chief executive officer of Ripple Labs. He almost certainly lost more than 7,002 BTC, worth more than $ 220 million.
Stefan Thomas has two guesses 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 stranded digital wallets.https://t.co/thdHaixBq8
— The New York Times (@nytimes) January 12, 2021
Stefan Thomas, a former Ripple executive has lost over 7,000 Bitcoin because forgot the IronKey password
Thomas is a German programmer living in San Francisco. Currently, he is extremely worried about his property. Specifically, Thomas can no longer remember the password of his IronKey wallet. Meanwhile, this IronKey wallet contains the private key of his Bitcoin wallet worth more than $ 220 million.
The special IronKey external drive is password protected and automatically locks out the user after ten attempts, encrypting the data held inside forever. Thomas has used eight attempts (with his most common passwords) and only has two left. Unfortunately, he lost the piece of paper on which he wrote his password.
For a case like Thomas, it might seem stupid to be your own banker’s ideals.
“This whole idea of being your own bank — let me put it this way, do you make your own shoes? The reason we have banks is that we don’t want to deal with all those things that banks do.”
However, Stefan Thomas is not the only unlucky one. Another such case is that of Gabriel Abed, an entrepreneur from Barbados. Abed lost about 800 Bitcoins when a colleague reformatted a computer containing his private keys. Luckily, it was only a fraction of the Bitcoin he owned and he recently bought a $ 25 million estate.
It is believed that 20% of Bitcoin that exists today is inaccessible. The private keys are either lost forever or they are in a wallet that was never opened and, in fact, may belong to Satoshi Nakamoto himself.
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