Man Loses Out on $225M in Bitcoin Because He Can’t Remember His Password
Stefan Thomas bought the digital currency when it was just $2 per bitcoin and then lost his password. Today, they're worth $35,000 each, leaving Thomas a huge fortune he can't access.
Stefan Thomas invested in the digital currency Bitcoin in 2011, back when it sold for just $2. Today, it sells for $35,000 per bitcoin, leaving Thomas with a $225 million fortune. The only problem — he can’t remember the password to access his digital wallet.
“I tried a couple different passwords, but none of them worked,” Thomas told Inside Edition.
Ten years ago, when he bought the bitcoins, he misplaced the password.
“I vaguely remember writing the password down and putting it somewhere safe. When I needed it, I was desperately searching everywhere, and I couldn't find it,” Thomas said.
Now, he finds himself the subject of worldwide fascination after he was featured in a New York Times article about people being locked out of their Bitcoin fortunes.
The system allows 10 shots at entering the correct password. After that, your account automatically locks up. So far, Thomas has guessed his password eight times, leaving him with two chances left. After that, his fortune will be gone forever.
“Unfortunately, I think the chances of me just remembering the password are unfortunately very slim,” Thomas said.
Fox Business reporter Jackie DeAngelis has basic, but important advice for anyone.
“A lot of people suggest storing multiple passwords in different digital apps where they can be protected. Some people choose to write them down. Whatever you choose to do, make sure that you can access it and that you don’t lose accessibility to these very important passwords,” DeAngelis said.
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