2021-02-06 BI - Miner's stash worth $68m seized, won't give up pswd

[acquafredda]

German prosecutors reportedly are holding about 1,700 bitcoin confiscated from a bitcoin miner, but the man won't give them his password to unlock the cryptocurrency.

"We asked him but he didn't say," Sebastian Murer, a prosecutor, told Reuters on Friday. "Perhaps he doesn't know."

At Saturday's bitcoin price, the stash was worth about $67.9 million.  

https://www.businessinsider.com/bitcoin-miner-stash-worth-68-million-seized-wont-give-up-password-2021-2

It looks like the guy installed bitcoin miners on others' computers to build up his stash. As per the not your keys, not your coins rule, the German police is unable to do anything with it unless the guy (who got a two year prison sentence) will reveal how to unlock the wallet.
We can speculate he clearly lost the password after a boat accident.

[Kittygalore]

If this person pulls it off and the authorities give up on him then this man will be a legendary figure in the crypto community although I will expect him to get off the grid once he completes his prison sentence, this is the first time that I have heard of a crypto related heist. In my opinion, this could be a good inspiration for a movie that is related to cryptocurrency, I love movies that involves heist or something similar. I think that he will not croak out the password, maybe that guy wants to look like he doesn't really know what is the password, he is a criminal after all, why would he confess knowing that he will be able to get the money after his prison sentence.

[Quidat]

It looks like the guy installed bitcoin miners on others' computers to build up his stash. As per the not your keys, not your coins rule, the German police is unable to do anything with it unless the guy (who got a two year prison sentence) will reveal how to unlock the wallet.
We can speculate he clearly lost the password after a boat accident.

I dont believe on that he had lost the password on that boat accident. He had might keep those keys somewhere and would get those back once he get out in prison.
No one can really force you out to tell those keys if you didnt want to and this is what crypto is all about that no one can able to control nor bypass your wallet
if they dont have those keys which is fully representing a total freedom and now that guy had released in prison? For sure its time for him to cherish out those
coins that he had kept while he's still in prison and on the good timing that the bitcoin price is already high now which is the best sweetest spot.

[Bitcoin_Arena]

It looks like the guy installed bitcoin miners on others' computers to build up his stash. As per the not your keys, not your coins rule, the German police is unable to do anything with it unless the guy (who got a two year prison sentence) will reveal how to unlock the wallet.

Only a 2-year sentence?
Hell yeah, I would conveniently forget the password too. Get out of jail in 2023, fly out of Germany to some safe haven and spend my $67.9 million or God knows how much the stash will be worth by then.
If He held those Bitcoins all that long minus spending them, then surely 2 years shouldn't be a problem.

[acquafredda]

It looks like the guy installed bitcoin miners on others' computers to build up his stash. As per the not your keys, not your coins rule, the German police is unable to do anything with it unless the guy (who got a two year prison sentence) will reveal how to unlock the wallet.
We can speculate he clearly lost the password after a boat accident.

I dont believe on that he had lost the password on that boat accident. He had might keep those keys somewhere and would get those back once he get out in prison.
No one can really force you out to tell those keys if you didnt want to and this is what crypto is all about that no one can able to control nor bypass your wallet
if they dont have those keys which is fully representing a total freedom and now that guy had released in prison? For sure its time for him to cherish out those
coins that he had kept while he's still in prison and on the good timing that the bitcoin price is already high now which is the best sweetest spot.

Just to be clear, as it may have not been that way, I was obviously joking about the boat accident! I believed it was one of the most common crypto jokes around 
If he gets it out of jail without having to give up his coins he might live happily thereafter. The thing is, he must survive two years in jail and avoid being asked about why he went there in the first place!