IT Specialist Forgets Password For $ 240 Million Bitcoin Wallet

Programmer Stefan Thomas from San Francisco made a video explaining the essence of bitcoin in 2011. One of the cryptocurrency enthusiasts paid Stefan 7,002 bitcoins as a reward for popularizing the topic. Then the crypt costs next to nothing, and the IT specialist wrote down the password for the IronKey secure storage on plain paper. At one point, he lost that sheet, reports The New York Times.

Today, Stephen Thomas potentially owns over $ 240 million but does not have access to it. The young man tries to remember the password, but so far attempts have failed. Also, IronKey only gives ten attempts to enter the password, after which the information will be permanently destroyed. Stefan only had two chances to remember the password.

According to the publication, of the 18.5 million bitcoins in existence, around 20% is lost forever - in monetary terms, that's about $ 140 billion.