The $220 Million “Forgot My Password” Tragedy 😭😭
Stefan Thomas, a programmer from Germany, was an early adopter of Bitcoin. Back in 2011, he created an animated video explaining how Bitcoin works and was rewarded with 7,002 Bitcoins as a thank-you gift. At the time, Bitcoin was worth only a few dollars, so he stashed his fortune in a digital wallet and secured it with an IronKey, a highly secure USB drive that gives users 10 password attempts before permanently locking out the data.
Fast forward a decade, Bitcoin skyrocketed to over $30,000 per coin, making his stash worth over $220 million. The problem? Stefan had forgotten the password to his IronKey. Worse, he had already used 8 of his 10 attempts, each failed guess bringing him closer to losing his fortune forever.
Desperate, Stefan tried every possible password he could think of, but nothing worked. So, he resigned himself to the fact that he might never access the fortune. The story went viral, and people on the internet came up with creative solutions:
• One person suggested hypnosis to retrieve the memory of his password.
• Another offered to break the IronKey using quantum computing, as if that’s a casual weekend project.
• Others simply joked, “Hey, just try ‘password123’ or ‘Bitcoin2024.’ You never know!”
Despite the loss, Stefan had a surprisingly zen attitude. He said it taught him the value of letting go and that he didn’t want to let the money define his life.
The moral? Don’t be zen. Write down your passwords.
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