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Tens of billions worth of Bitcoin have been locked by people who forgot their key.
Bitcoin owners who are locked out of their wallets speak of endless days and nights of frustration as they have tried to get access to their fortunes. With traditional bank accounts and online wallets, banks like Wells Fargo and other financial companies like PayPal can provide people the passwords to their accounts or reset lost passwords.
Bitcoin has no company to provide or store passwords. But the structure of this system did not account for just how bad people can be at remembering and securing their passwords. Monica started the company in after helping a hedge fund regain access to one of its Bitcoin wallets.
He has ten attempts to guess the password, out of which he has already used eight, reports UPI. After two more failed attempts, the password will encrypt itself, making the wallet impossible to access. Through this unfortunate circumstance, Thomas seems to be taking away a positive lesson.
It wasn't going to be about how much money I have in my bank account," he said, reports UPI. Sign in Hi, Sign out. Home India News Cities. A decade ago, Thomas was given 7, bitcoins for making an explainer video about how cryptocurrency works. What are your thoughts on this?
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