Only Two More Password Guesses Left To Access His $220m In Bitcoin 

Only Two More Password Guesses Left To Access His $220m In Bitcoin. Image : MichaelWuensch from Pixabay

ONLY Two More Password Guesses Left To Access His $220m In Bitcoin before the Digital Wallet Locks Forever

Stefan Thomas, a German-born computer programmer now living in San Francisco, has told The New York Times how he has $220m in Bitcoin he is unable to access as he can not remember the password and so is locked out.

With a Bitcoin account, owners have 10 password attempts or the digital key as it is called, and he has so far used up eight of those 10, leaving only two more tries at a password combination, before the wallet locks itself up permanently and the funds are lost.

Thomas explained how he was gifted 7,002 Bitcoins in 2011, by an early cryptocurrency fanatic, as payment for creating a ‘What is Bitcoin?’ explainer video for him, but he later forgot the digital key he had for the account.

He told The New York Times, “I would just lay in bed and think about it, then I would go to the computer with some new strategy, and it wouldn’t work, and I would be desperate again”, although all is not lost as he already has other wallets with large amounts of Bitcoin in them that have made him very rich.

According to a report by The New York Times, about $140 billion of Bitcoin are currently being held in lost or stranded wallets, and Wallet Recovery Services, which tries to help users recover their lost digital keys, is now receiving three times the number of daily requests.

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Written by

Chris King

Originally from Wales, Chris spent years on the Costa del Sol before moving to the Algarve where he is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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