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Man Forgets Bitcoin Hardrive Password With $240 Million

Gideon Kiplangat Siele

Jan. 14, 2021

You all have probably had this experience. Brain fog sometimes make us forget our pins and passwords, some more important and belonging to even our financial accounts. This is exactly the situation that Stefan Thomas, a millionaire and famous programmer has found himself in. His case is not the one we usually find ourselves in. The man has totally forgotten the credentials to his bitcoin account. His hard drive now contains more than £175 million an equivalent of $240 million or Ksh 2. 4 billion.
Stefan is at a difficult position as a few more attempts will result in the drive encrypting itself and he will never be able to access his funds. This is even more because the bitcoin cryptocurrency is so volatile. The value of one bitcoin is currently so high at a record $34, 000. Alex Stamos, a former security head of Facebook is offering to help Stephan but with a costly fee. He says that he will take 10% of the total amount.
But you would be shocked at how the amount has really grown. When Thomas made a video a decade ago to explain how cryptocurrency works, he was not paid in cash. Rather, he was given 7, 002 bitcoins. He decided to store this coins in a hardrive in an ironkey digital wallet. But back then, one bitcoin was worth just a few dollars. He wrote the password in a piece of paper but soon he could not trace it.
Mr Stamos who saw an opportunity in Stefans desperation is a college professor at Stanford University. He tweeted Stefans some how intimidating him. He told him that he should not have made ten wrong password trials but instead given it to proffessionals who would purchase 20 ironkeys and work at finding the password. He then named his price and told him that if he is willing, he should give him a phone call.
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