![]() ![]() Since Bitcoin’s early days a decade ago, many have owned the coins, when no one had faith that the tokens would be worth something. Wallet Recovery Services, a company that helps locate missing digital keys, said that people who want help to retrieve their wealth have received 70 requests a day, three times the amount of a month ago.Īs they tried to enter their fortunes, Bitcoin owners who are locked out of their wallets talk of endless days and nights of frustration. Bitcoin Is Lost and Will Never Be Recovered, Says ChainalysisĪccording to the cryptocurrency data firm Chainalysis, about 20 percent of the existing 18.5 million Bitcoins, worth about $140 billion, tend to be missing or otherwise in stranded wallets. In a short period, Bitcoin, which has been on an unprecedented and unpredictable eight-month run, has made many of its investors very wealthy, even as the pandemic has destroyed the world economy. Thomas misplaced the paper where he wrote down the IronKey password, which gives users 10 guesses before it seizes up and forever encrypts its contents. Although on Monday, the price of Bitcoin fell sharply, it is still more than 50% higher than just a month ago when it passed its previous all-time high of about $20,000. The password will allow him to unlock a small hard drive, which is known as IronKey, that contains the private keys of a digital wallet containing 7,002 Bitcoin. ![]() Abed said his enthusiasm was not dimmed by thisĪ German-born programmer living in San Francisco, Stefan Thomas, has two guesses left to work out a password worth around $220 million as of this week. Chainalysis, says 20 percent of the existing 18.5 million Bitcoins, worth billion, lost. ![]() But what happens if you can’t access the resource because you lost your digital wallet password?
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