In 2011, programmer Stefan Thomas received 7,002 BTC as payment for making explanatory videos about Bitcoin. He stored the private key on an IronKey device but lost the piece of paper with the password on it. IronKey is a security device that allows only 10 password attempts. After the tenth attempt, the data is permanently locked or erased, with no way to recover it. By January 2021, Thomas had made eight unsuccessful attempts, leaving him with only two tries.
Now, 15 years later, the hundred-million-dollar treasure still lies untouched on the IronKey. Thomas turned to Naxo, a blockchain investigation firm founded by former FBI agents, and Chris Tarnovsky, a hardware security expert, to unlock the IronKey, but so far there has been no report of a successful result. Uniciphered, a cryptocurrency recovery firm that once successfully cracked an IronKey similar to Thomas’s, also contacted him, but he declined because he already had an agreement with Naxo and Chris Tarnovsky.
Currently, the 7,002 BTC remain on the blockchain, with no transactions made, and the device is believed to still be stored safely (it was once reported to be in a Swiss safe). To this day, this remains one of the most famous cases of lost access to Bitcoin due to a forgotten password.
Crypto projects scale back operations — L1s and L2s gradually shut down #5PC
It’s not even the end of October, but more than six projects have already announced that they are shutting down or scaling back their business operations. Most of these projects have one thing in common:
+ They generate too little revenue and cash flow to sustain operations +…
Basically, every now and then, if a customer group gets linked to dirty money, their accounts get locked in bulk. If they’re not linked to dirty money, there’s no problem.
INVESTED IN CRYPTO FOR 10 YEARS, FROM AGE 25 TO 35. MY ACCOUNT IS NOW WORTH EIGHT FIGURES, DEFINITELY OVER $10M.
The secret to success is simple: split your capital into 3 parts and buy in batches. Don’t invest it all at once, always leave yourself a way out, and make sure to take profits…
CME EXPECTED TO LAUNCH BITCOIN CASH AND UNISWAP FUTURES, EXPANDING ITS SINGLE-ASSET CRYPTO PRODUCT LINEUP TO 11 PRODUCTS
CME is expected to launch Bitcoin Cash (BCH) and Uniswap (UNI) futures on October 19, bringing the total number of single-asset cryptocurrency products to 11.…
INVESTED IN CRYPTO FOR 10 YEARS, FROM AGE 25 TO 35. MY ACCOUNT IS NOW WORTH EIGHT FIGURES, DEFINITELY OVER $10M.
The secret to success is simple: split your capital into 3 parts and buy in batches. Don’t invest it all at once, always leave yourself a way out, and make sure to take profits…