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Tuesday, January 19, 2021

$240 Million In A Bitcoin Wallet, But Programmer To Lose It All For Two Wrong Guesses

Stefan Thomas, computer programmer based in San-Francisco has two more guesses to unlock his Bitcoin wallet that contains $240 million. Now it all depends on the power of his memory.

The computer programmer was given 7,002 bitcoins after he made a video explaining how Bitcoins and the cryptocurrency market works. However, this was a decade ago when the value of Bitcoins was meagre. He had put these coins into a digital wallet and had erased them from his memory.

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However, those $2-$6 coins have an individual worth of $34,000. According to this estimate, Stefan’s bitcoin wallet can be currently valued at $240 million. However, the sad part of the story is that the programmer cannot access the wallet presently as he has forgotten his password.

Bitcoin Wallet Will Auto-Encrypt All Content With The 10th Inaccurate Guess

Stefan Thomas has tried to log into the wallet 8 times but in vain. With 8 wrong attempts already, he is only left with two more attempts to successfully get into his account. If he fails at this, the hard drive comprising his private keys to the digi-wallet will get encrypted and he will lose out on his massive fortune.

The Bitcoin market has seen an immense growth in the past week. Bitcoin price rallied above $40,000 that is double the value it had the week before. BTC hit new records in 2020 and many institutional investors and traders now consider this cryptocurrency to be the future. Companies like PayPal and so on are beginning to include Bitcoin wallets along with other cryptocurrencies into the mainstream payment options.

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In such a circumstance, Thomas is left with two more attempts to unlock his long-forgotten treasure. However, following the social media popularity of his plight, Alex Stamos, an internet security expert, Stanford University mentioned in a Twitter post that he could get into the Bitcoin wallet if he’s given six months and 10% of the cut.

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