A German programmer has 2 chances to guess his IronKey password or he’ll lose $280m in Bitcoin

Discussion in 'Cryptocurrencies' started by themickey, Jan 12, 2021 at 11:50 PM.

  1. themickey

    themickey

    https://stockhead.com.au/tech/a-ger...ronkey-password-or-hell-lose-280m-in-bitcoin/
    6 hours ago | Business Insider Australia
    cant-sleep.gif

    While the Bitcoin price has recorded historic growth – increasing by 92% in a month and about 340% in a year – one investor is locked out of accessing his riches because he forgot his IronKey password.

    Stefan Thomas, a German-born programmer in San Francisco, told The New York Times this week that he forgot the password to his IronKey, a secure hard drive with the keys to his wallet with 7,002 Bitcoins, or about $US220 million ($280 million) worth. IronKey gives users 10 guesses to get their password right before encrypting the hard drive’s contents; Thomas has two more tries left.

    “I would just lay in bed and think about it,” Thomas told The 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.”

    As some bitcoin investors get rich, others have had trouble accessing their investments because they have forgotten their passwords, The Times reported. About 20% of existing Bitcoins “appear to be in lost or otherwise stranded wallets,” the report said.

    Some high-profile investors remain wary of Bitcoin’s surge. UBS analysts said this week that cryptocurrency volatility did not make it a “suitable alternative” to safe-haven assets. And the billionaire “Bond King” Jeffrey Gundlach said Bitcoin hit “bubble territory” once the price passed $US23,000.

    Even after sliding as much as 20% over Sunday and Monday, the price of Bitcoin recovered on Tuesday, rising to about $US36,000.

    In a tweet on Monday, the “Shark Tank” star Mark Cuban compared the “cryptos trade” to the dot-com bubble of the 1990s.
     
    comagnum likes this.
  2. He should try: QWERTY
     
    Turveyd and angrytrader like this.
  3. Relentless

    Relentless

  4. As of late, forgetting his password has probably resulted in his net-worth going up.
     
  5. AbbotAle

    AbbotAle

    007 and

    123456(78) would be mine.

    Remember, BTC loves to transfer from weak hands to strong.

    In this case, the strong hands are sort of getting it from the weak in that his coins will sadly be lost forever, so slightly increasing the value of every one else's coin via the small fall in supply.
     
  6. Pekelo

    Pekelo

    If it was gold bars in a safe, he could call the safe cracker...

    Hell, sooner or later we even recover the treasures from sunken ships. But of course that can not compete with the store of value.
     
  7. johnarb

    johnarb

    What kind of idiot would have $220M in gold stored in a safe where he can simply call a safe cracker to open? :D

    Think of all the headaches of owning so much gold for the past 10 years and the costs of security and imagine buying $220M worth of gold 10 years ago at a price of less than a yearly salary?
     
  8. He better learn how to crack the enigma code hahaha... oops.
     
  9. Turveyd

    Turveyd

    and Password ohhh shit password ohhhh password1234

    I used to use password1234 until they all blocked it LOL
     
  10. Turveyd

    Turveyd

    Safe Cracker, blow the doors off and his house up to get to it.