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Forgot Password? Bitcoin User Has Just Two Chances Left Or He Loses Rs 1,800 Crore In Cryptocurrency Jan 17, 2021, 11:05 IST Forgetting the password is pretty common. People often forget their passwords to email or online banking etc. But this time, forgetting the password cannot hurt more than this. A San Francisco based programmer Stefan Thomas has fallen into crisis. Thomas has forgotten his Bitcoin password which contains $220 million (Rs 1,800 crore) in cryto-currency. After eight wrong guesses, he now has only two chances left. Thomas stored his bitcoins in an IronKey digital wal...

It looked like an ordinary letter, delivered with all the rest of the mail to Daniel Levinson's San Francisco home. Thomas said since the New York Times profile, hundreds of people around the world have reached out to him with advice -- some serious and others silly. "One person suggested, have you tried the word 'password'?" he joked. "Some people have recommended various mediums, psychics, prophets that I could talk to. Some people are suggesting nootropic memory enhancing drugs." So far, he's not taken anyone up on it. Ian Sherr, Editor-at-Large at CNET News, explained that Thomas' situati...

Lost Bitcoin Wallet Passwords Make $140 Billion-Worth Of BTC Inaccessible KEY POINTS Some users have reportedly lost the password to their digital wallets Around 20% of existing Bitcoins are considered lost, according to crypto data firm Chainalysis Bitcoin's value is soaring, bringing big returns for crypto investors. But there are a few who are not happy. San Francisco-based investor Stefan Thomas is one of them. Thomas has almost lost the password (which he originally wrote down on a paper) to a hard drive, called IronKey, where he stored the private key to his Bitcoin wallet, which holds...

Bitcoin, which has been on an extraordinary and volatile eight-month run, has made a lot of its holders very rich in a short period of time, even as the coronavirus pandemic has ravaged the world economy. But the cryptocurrencys unusual nature has also meant that many people are locked out of their Bitcoin fortunes as a result of lost or forgotten keys.

Imagine if forgetting your password made you lose millions...