Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Sunday, January 17, 2021

Programmer who could lose hundreds of millions in bitcoin shares 'painful memory'

DigitalassetsStefan Thomas, a programmer, could lose $260 million worth of bitcoin because he cannot remember his password. Thomas lost the password for his IronKey hard drive, "which contains the keys to a digital wallet with 7,002 bitcoin.

Thomas said that there's "no chance he'll ever recoup his lost fortune." Thomas also called it a "painful memory." Thomas stated, "It's not like I barely don't remember it. It's there's no chance of remembering something that complicated from 10 years ago." 

Users have 10 guesses to remember their password before they are locked out forever. Thomas, has used 8 of those 10 attempts, and is still unsuccessful. 

Thomas also stated, "I tried to pick a very secure one because I was very concerned about losing those coins," Thomas added in the interview. "I'd just like lay in bed and come up with a new way to recover it and it wouldn't work and I would try another way and it wouldn't work either."

While many of us would be devastated if we lost access to so much money, Thomas has been making fun of the situation and remains in high spirits. 

See Chris Ciaccia, Programmer who could lose hundreds of millions in bitcoin shares 'painful memory', Fox News, January 14, 2021. 

https://lawprofessors.typepad.com/trusts_estates_prof/2021/01/programmer-who-could-lose-hundreds-of-millions-in-bitcoin-shares-painful-memory.html

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