Bitcoin traders and investors are happy due to Bitcoin hyped. The price of cryptocurrency or the most popular digital currency is again rising fast, breaking a record high in history. Profits are abundant. People become millionaires overnight is not impossible. On the other hand, Bitcoin investor Stefan Thomas did not feel that kind of condition. This 33-year-old man is even lamenting the fate of being threatened not to be able to enjoy an abundance of Bitcoin because of a small mistake.
Forgotten Password: Lose $220 Million
Stefean Thomas’ small mistake is forgetting password. As a result of this error, Thomas is likely to lose US $ 220 million stored in Bitcoin.
This spooky story begins when Thomas fails to get to the IronKey hard drive, where he keeps his 7,002 Bitcoins. The problem is, Thomas has tried to enter the password twice and failed, quoted by The Verge, Wednesday (13/1/2021).
The two failures almost cost him $ 220 million due to IronKey’s security protocol.
Actually there is still one way for him to be able to take the money. The trick asked experts to crack the hard drive password, but Thomas had to spend money and time doing it.
This story shows the risk of Bitcoin loss due to non-technical factors. Cryptocurrency data company Chainalysis estimates that around 20% of the total 18.5 million Bitcoin or the equivalent of US $ 140 billion in circulation has been lost or cannot be accessed by their owners.
Citing Coindesk, until January 13, 2021, Bitcoin is trading at a price of US $ 33,972 per coin. Bitcoin’s all-time high price of US $ 41,962 per coin.