A few multi-million dollar touches. According to the “New York Times”, Stefan Thomas, a developer living in San Francisco, has on a key a pretty wallet of 7,002 bitcoins, or about $ 200 million. Only problem: Stefan Thomas forgot his password to recover it. And he is not the only one in this case.
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The German-born developer claims to have lost the paper on which he wrote the precious sesame years ago. Of the 10 attempts he was entitled to, he only has two more before the key permanently encrypts its content.
No support service
According to the American daily, in an article dated Tuesday, January 12, of the 18.5 million existing bitcoins, approximately 20% (or approximately $ 140 billion) seem to be in lost or blocked wallets. Because one of the advantages of bitcoin is also one of its biggest risks: the user alone can manage his wallet and have access to it. In the event of loss of information, no assistance service, as in traditional banks.
The company Wallet Recovery Services, which helps find lost digital keys, receives 70 requests per day from people wishing to get their hands on their small fortune, three times more than a month ago, as reported in the “New York Times ”.
A very volatile cryptocurrency
The highly changing nature of bitcoin has therefore led many holders, some of whom invested in the early days in cryptocurrency without knowing the value it would develop, to desperately watch its price climb without being able to cash the contents of their wallet.
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This frustration is all the more important given that bitcoin has crossed record after record, exceeding $ 30,000 in early January. However, its price fell 18% earlier this week, and lost almost a fifth of its value on Monday to $ 31,225.85, according to data compiled by the Bloomberg agency.