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Investor forgets password for $ 220M USD Bitcoin Digital Wallet

If you ever thought you had a bad experience with a forgotten password, San Francisco-based programmer Stefan Thomas is now two guesses away from losing $ 220 million USD in Bitcoin. According to The New York Times, Thomas is just one of many early Bitcoin investors who have forgotten the security keys to their digital wallets as cryptocurrency breaks the $ 33,000 USD mark.

During Bitcoin’s childhood, Thomas got about 7,000 coins from an early investor to make a video explaining the currency. When cryptocurrency reached a new staggering height, Thomas seemed to have access to his digital wallet, but after eight wrong guesses, he came to the realization that he had forgotten his password. It is also important to note that the specific wallet that Thomas used to hold his Bitcoin has a system that wipes the wallet after 1

0 wrong guesses. With just two more attempts, Thomas has put his hard drive away while looking for another way to access his Bitcoins.

Thanks to the decentralized and anonymous nature of Bitcoin, there is no real way to retrieve a forgotten password. Some reports note that nearly one in five Bitcoins is permanently lost, and the total value of the lost Bitcoins is estimated to be nearly $ 140 billion USD.

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