/cryptocurrency

News and resources on digital currencies, crypto assets and crypto exchanges worldwide.

Former Ripple CTO can't remember a password that would unlock a fortune in bitcoin

The former chief technology officer of Ripple Labs has just two more password attempts to lay his hands on $240 million in bitcoin that has been locked in an IronKey hard-drive for over a decade.

  16 1 comment

Former Ripple CTO can't remember a password that would unlock a fortune in bitcoin

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

Stefan Thomas was paid 7,002 bitcoins for making a cryptocurrency explainer video ten years ago. At the time each bitcoin was worth between $2 and $6.

But with bitcoin prices surging, Thomas has made eight failed attempts to access the loot using his most commonly-used passwords and has lucked out every time, the New York Times reports.

Two more failed attempts and the drive will auto-encrypt its contents, consigning his fortune to the ether.

“I would just lay in bed and think about it," Thomas told the New York Times. "Then I would go to the computer with some new strategy, and it wouldn’t work, and I would be desperate again.”

Elsewhere, a UK man who threw away a laptop hard drive containing bitcoin he believes is now worth close to $300 million wants his council to let him search for it in landfill.

James Howells had 7,500 bitcoins, on the hard drive, which he mistakenly threw away in 2013.

Sponsored New Report – The Future of AI in Financial Services 2025

Comments: (1)

A Finextra member 

Password1?

[Webinar] Beyond Open Banking – Exploring the Move to Open FinanceFinextra Promoted[Webinar] Beyond Open Banking – Exploring the Move to Open Finance