again a Bitcoin millionaire who forgot his password

[imstillthebest]

its not the private key and password that people under estimate before but its the bitcoin because if they only treat bitcoin as important as their emails , social media and other important apps they wont forget their bitcoin passwords and private keys  . the guy must be involved in btc when btc is still in its early days but what makes me think is that there are already hardware wallets that time ? because i never heard private keys being talked about before and what sucks is that his hardwallet only gives him 10 chances , looks like a scam to me because if user fail to provide his password in the 10th atempt the owner of the wallet will confiscate the funds  but why not he try to contact the wallet owner ? see if he can negotiate with his btc .

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[Astvile]

I just don't get it on how he lose his password to his IronKey because if you are holding those huge number of bitcoin then probably you might have some back up file or you have multiple copies of your ironkey in order for you to avoid losing and forgetting those passwords. Just think about it, if you have so many money then probably you will not put it in just a 1 wallet but also you will put it in other wallet.

Sometimes we feel very confident about ourselves not writing down each and every password we use thinking that we can always dig it out of our head, been in that situation too.  And this is no the first case of this thing happening so we should not be surprised at all.

At $200 million value, you'd think IronKey would want to step in and try to reverse engineer or hack their own product to help this dude... It's likely an older drive with many vulnerabilities ready to be discovered.

No way that IronKey will step in to help him. I am sure they provided enough cautions and notice to always back up passwords and seeds, this is a user end mistake IronKey will do nothing about this no matter how much he lost. What's gone is gone.

[manfredmann]

WTH, why in the world these rich people don't bother to get their funds being burned or buried in that cold wallet? Really? they are that rich in which their password can be just be forgotten? This is one problem with being in a decentralized wallets compared to centralized wallet. However, there are new wallets right now that are actually using 2 Private keys that the other will be kept by the dev and the other kept by you and whenever you need to access your funds then you need both to use your private key to access it.

[yazher]

German-born programmer Stefan Thomas told the Times he forgot the password to IronKey, an secure flash drive has access to 7,002 Bitcoin - $220 million worth. IronKey gives users 10 guesses for their passwords before seizing its contents.
"I would just lay in bed and think about it," Thomas told the New York Times Nathaniel Popper. "Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again."

quite surprised by this news because his Bitcoin trapped in his hardware wallet is very much.  Don't underestimate your private key and password, if you haven't prepared the best place (easy to remember and reach) to store your private key and password then do it right now..

https://markets.businessinsider.com/currencies/news/programmer-locked-out-220-million-in-bitcoin-forgotten-password-2021-1-1029961378

I think he is an old user like any other person who forgot the details of their account after so many years of ignoring the crypto market. He can't do anything about it unless he remembers the password or some hints about his account. I've seen some people who offer their service to recover such kind of account and the only thing that is bothering me is the percentage they will get from those forgotten accounts and there's no guarantee that they will return your account back.

[mediaBuzz]

Would you trust a key from your chest with 200m dollars inside to your brain that you know might broke after a wrong step on your stairway? Doesn't really sound realistic to me.

[PonZZ]

He is so rich, but couldn't afford buying two or more hard wallets to minimize risks of loosing all funds. And why didn't he care about one secure place like a strong-box to keep a copy of the seed-phrase there? I just can't understand being so reckless when it concerns money.

[masterzino]

German-born programmer Stefan Thomas told the Times he forgot the password to IronKey, an secure flash drive has access to 7,002 Bitcoin - $220 million worth. IronKey gives users 10 guesses for their passwords before seizing its contents.
"I would just lay in bed and think about it," Thomas told the New York Times Nathaniel Popper. "Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again."

quite surprised by this news because his Bitcoin trapped in his hardware wallet is very much.  Don't underestimate your private key and password, if you haven't prepared the best place (easy to remember and reach) to store your private key and password then do it right now..

https://markets.businessinsider.com/currencies/news/programmer-locked-out-220-million-in-bitcoin-forgotten-password-2021-1-1029961378

I read about him.

Actually, his problem is an IronKey password. It can be brute-forced much easier, and he already got a few proposals for it. So he will be probably one of the few real new-forgotten millionaires

[mezzaluna]

This is some crippling news even though we are just spectators to his life. Having this sum of Bitcoin is not a joke because he can do many things with spending it. Its also something that can be used for the greater good if Stefan decides it to use it in that way. Its also another proof that Bitcoin is profitable and this time, will really gain the attention that it needs. Forgetting your own password will really make you desperate because you should know things like that.

[ultrloa]

He is so rich, but couldn't afford buying two or more hard wallets to minimize risks of loosing all funds. And why didn't he care about one secure place like a strong-box to keep a copy of the seed-phrase there? I just can't understand being so reckless when it concerns money.

We don't know his story since maybe by the time he bought his coins is the only accessible wallet available for him is the currently one he used, also maybe he just bought it and forget and over the year when bitcoin gain huge price he realize that he have huge volume stored and unfortunately he forgot his password and get a hard time to recover it, this scenario is normal and expect that there are other who are holder from the past will came out and claim the same as this.

[so98nn]

That’s really awful for that investor but unfortunately it’s good thing for others because we have security against dumping of bitcoin for that much amount.   I know it’s bad news but think with above point of view, not only he but many legends have done this mistake in earlier days and thus huge stash of pile is locked away forever unless God mercy them with the private key or password.  

Technically that’s backbone for huge share of bitcoin which is not sold and will never be sold because they are locked away forever. What do you guys think about this thought ??

[Fesatmas]

It is ironic that the holdings of a large number of bitcoins cannot be reopened. This really should be the extra with all those who are not only capable of having technological expertise. It is unfortunate if such large funds cannot be realized. I hope he can solve the missing password.
yeah it's like in a movie where to crack the code

[Kong Hey Pakboy]

I just don't get it on how he lose his password to his IronKey because if you are holding those huge number of bitcoin then probably you might have some back up file or you have multiple copies of your ironkey in order for you to avoid losing and forgetting those passwords. Just think about it, if you have so many money then probably you will not put it in just a 1 wallet but also you will put it in other wallet.

Indeed. Suppose you have a considerable amount of funds in your wallet. In that case, you should have writedown all of your usernames, passwords, and private keys in everything in your accounts because it is important for every crypto user to protect and keep all of your funds. I think the best way for him to get back all of his funds is to contact their supports on how they would able to bypass or have access to his account.

[JollyGood]

Guardian Headline: Programmer has two guesses left to access £175m bitcoin wallet

Guardian Article: Stefan Thomas has just two chances left to get his hands on his $240m (£175m) fortune.

Thomas is a San Francisco-based computer programmer, and a decade ago he was given 7,002 bitcoins as a reward for making a video explaining how the cryptocurrency works.

At the time he was paid, they were worth $2-$6 each. He stashed them away in his “digital wallet” and forgot about them.

Now each bitcoin is worth $34,000, and the contents of his wallet are valued at $240m. But Thomas has forgotten the password that will unlock his fortune.

German-born Thomas has already entered the wrong password eight times, and if he guesses wrong two more times his hard drive, which contains his private keys to the bitcoin, will be encrypted – and he’ll never see the money.

-----------------------------------
Full details here: https://www.theguardian.com/technology/2021/jan/12/in-bits-the-programmer-locked-out-of-his-130m-bitcoin-account

The news article stated he received them around 10 years ago. He like many others would never have guessed their value could be so high one day but at least he has them, he just needs to figure out the password he was using 10 years ago. Others have claimed they threw away hard drives with Bitcoin on them and others have stated other things, sadly these thing can happen.

He seems a bright level-headed person so maybe with time the password will come to him.

I just don't get it on how he lose his password to his IronKey because if you are holding those huge number of bitcoin then probably you might have some back up file or you have multiple copies of your ironkey in order for you to avoid losing and forgetting those passwords. Just think about it, if you have so many money then probably you will not put it in just a 1 wallet but also you will put it in other wallet.

[Murpheus]

at least it won't rust    

Come on... It will just sit there in his wallet, till the end of I dunno.... Time

Anyways he is a millionaire....

[virtualdn]

Having the 10 times limit is a very stupid thing to do. Without that he could have tried forever, who knows, it was probably breakable, big chances anyway.

[sallybein987]

German-born programmer Stefan Thomas told the Times he forgot the password to IronKey, an secure flash drive has access to 7,002 Bitcoin - $220 million worth. IronKey gives users 10 guesses for their passwords before seizing its contents.
"I would just lay in bed and think about it," Thomas told the New York Times Nathaniel Popper. "Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again."

quite surprised by this news because his Bitcoin trapped in his hardware wallet is very much.  Don't underestimate your private key and password, if you haven't prepared the best place (easy to remember and reach) to store your private key and password then do it right now..

https://markets.businessinsider.com/currencies/news/programmer-locked-out-220-million-in-bitcoin-forgotten-password-2021-1-1029961378

I read about him.

Actually, his problem is an IronKey password. It can be brute-forced much easier, and he already got a few proposals for it. So he will be probably one of the few real new-forgotten millionaires

just pray for him.

[plvbob0070]

That's awful. But knowing that you're holding such a huge amount of bitcoin on your hardware wallet, that would already make you extra careful with it, especially with your password. I mean, since it's a huge worth of money then you wouldn't want to forget your password so you would probably have backups with you. I think he's used to holding a huge amount of coins that's why he becomes careless about it, and now he's in a tragic situation. With the remaining two guesses he has, he needs to be critical since it's a matter of $220 M worth he'll be losing.

[Tamim121]

German-born programmer Stefan Thomas told the Times he forgot the password to IronKey, an secure flash drive has access to 7,002 Bitcoin - $220 million worth. IronKey gives users 10 guesses for their passwords before seizing its contents.
"I would just lay in bed and think about it," Thomas told the New York Times Nathaniel Popper. "Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again."

quite surprised by this news because his Bitcoin trapped in his hardware wallet is very much.  Don't underestimate your private key and password, if you haven't prepared the best place (easy to remember and reach) to store your private key and password then do it right now..

https://markets.businessinsider.com/currencies/news/programmer-locked-out-220-million-in-bitcoin-forgotten-password-2021-1-1029961378

This is a damn bad news. Some people don't secure their private key. They don't save it in secure places or sometime they forgot to save it. I think they need to save it in secure place. Because if he don't save it in secure place then it have a chance to be hacked. Private keys and password are so much important. Otherwise you will lose your money easily. If their any option of KYC then he can do it for extra security. But this is a must to put private keys in secure place or write down it in diary.

[Sirait]

~snip

^ I thought maybe at that time he didn't really care about the Bitcoin he had because at that time 7000 Bitcoin was just under $100. if he finds out in the future, Bitcoin will be worth over $ 20k then he will definitely keep his passwords in a safe place and not just in his head.

Guardian Headline: Programmer has two guesses left to access £175m bitcoin wallet

Guardian Article: Stefan Thomas has just two chances left to get his hands on his $240m (£175m) fortune.

Thomas is a San Francisco-based computer programmer, and a decade ago he was given 7,002 bitcoins as a reward for making a video explaining how the cryptocurrency works.

At the time he was paid, they were worth $2-$6 each. He stashed them away in his “digital wallet” and forgot about them.

Now each bitcoin is worth $34,000, and the contents of his wallet are valued at $240m. But Thomas has forgotten the password that will unlock his fortune.

German-born Thomas has already entered the wrong password eight times, and if he guesses wrong two more times his hard drive, which contains his private keys to the bitcoin, will be encrypted – and he’ll never see the money.

-----------------------------------
Full details here: https://www.theguardian.com/technology/2021/jan/12/in-bits-the-programmer-locked-out-of-his-130m-bitcoin-account

[VanityWallets2015]

German-born programmer Stefan Thomas told the Times he forgot the password to IronKey, an secure flash drive has access to 7,002 Bitcoin - $220 million worth. IronKey gives users 10 guesses for their passwords before seizing its contents.
"I would just lay in bed and think about it," Thomas told the New York Times Nathaniel Popper. "Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again."

quite surprised by this news because his Bitcoin trapped in his hardware wallet is very much.  Don't underestimate your private key and password, if you haven't prepared the best place (easy to remember and reach) to store your private key and password then do it right now..

https://markets.businessinsider.com/currencies/news/programmer-locked-out-220-million-in-bitcoin-forgotten-password-2021-1-1029961378

I felt indeed awful upon reading this. What a shame if the password won’t be retrieved right? It is a shame with that amount of Bitcoin.
I guess there are just people who aren’t as cautious as the others. And usually these are people who have much in their lives.
That is why saving and securing passwords and private keys are very crucial when it comes to storing cryptocurrencies.