Unlocking a Forgotten Fortune
A crypto recovery firm called Unciphered has proposed a solution to help former Ripple Chief Technology Officer Stefan Thomas access a hard drive containing over 7,000 Bitcoin (BTC) that he has been unable to unlock for years.
The Forgotten Password
Thomas forgot the password to his IronKey hard drive, which will erase its data if an incorrect password is entered ten times. So far, he has used eight attempts and has been unable to access the Bitcoin stored on the drive, which is currently valued at approximately $244 million.
A Promising Solution
Unciphered claims to have developed a method to crack the hardware and safely access the BTC keys stored on the IronKey. The company reportedly bypassed the ten-attempt restriction on a similar device by trying "200 trillion times." According to Unciphered, they can demonstrate their method on multiple samples to ensure confidence before moving forward.
A Growing Business
Unciphered CEO Eric Michaud stated that the company has a "sustainable business" helping people recover lost crypto. While the firm has not disclosed what they would ask for in return from Thomas, Michaud expressed hope that they can work together to unlock the hard drive. He emphasized that Unciphered will be ready to assist whenever Thomas is ready to proceed.
A Common Problem
Thomas' case is not unique, as there have been numerous stories of individuals losing access to their crypto fortunes. In some cases, users have found their lost private keys years later, while others have been unsuccessful in locating discarded hard drives containing valuable Bitcoin. Estimates suggest that around 20% of Bitcoin's total supply may be permanently lost, equating to billions of dollars worth of the cryptocurrency.
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