Can you imagine losing the key to generational wealth? How about multi-generational wealth.
Stefan Thomas’s lost password
Former Chief Technology Officer (CTO) of Ripple, Stefan Thomas, made headlines in 2021 for forgetting the password of the hard drive that contained the key to his Bitcoin wallet. The hard drive, known as the Iron Key, has been designed to be impervious to all attacks and only provides users with ten attempts before they are permanently locked out of the drive. As of 2021, Thomas is down to his final two attempts attempts.
The Bitcoin wallet that Thomas cannot access contains 7,200 BTC, which would be worth over US$187 million today. As per Thomas, the only other way to retrieve the information would be by breaking the drive apart, removing its chip and putting it under a scanning electron microscope to read the individual flash memory cells.
However, this process would require a lot of time and money, and even after that, there are chances that he would fail to retrieve the information. Thomas has been trying to log into the hard drive since 2012 and says he has now made peace with his loss.
Sorry for the comedy flair, certainly isn't funny for Stefan.
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