A company called Unciphered has offered to help former Ripple CTO Stefan Thomas recover more than 7,000 Bitcoin (BTC) that he has been unable to access for years. Thomas forgot the information needed to access an IronKey hard drive containing the Bitcoin, and he has used eight out of his ten attempts to enter the correct password. Unciphered claims to have developed a method to crack the hardware and access the BTC keys safely. They have reportedly accessed the data on a similar IronKey after “200 trillion tries.” Unciphered CEO Eric Michaud said the company used offline servers to extract some of the drive’s information and make multiple attempts at guessing the password. While Michaud did not disclose what the company would ask for in return, he mentioned that Unciphered has a “sustainable business” helping people recover crypto. This situation is not unique, as there have been other cases of individuals losing access to their Bitcoin. Estimates from 2022 suggest that users may have lost access to around 20% of Bitcoin’s supply, amounting to billions of dollars worth of the cryptocurrency.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇩🇪 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | James Howells, Eric Michaud, Stefan Thomas |
| Companies | Wired, Ripple, Unciphered LLC, Cointelegraph, Ledger |
| Currencies | Bitcoin |
| Securities | None |
