He Still Has Two Password Guesses Left Before $840 Million Deletes Itself Forever

In 2011, programmer Stefan Thomas took outgo for a “What is Bitcoin?” acquisition video successful Bitcoin, and the 7,002 BTC helium received has since go the benignant of luck radical physique full information teams around. The private keys beryllium connected an IronKey encrypted USB drive, protected by a password Thomas erstwhile wrote down and past lost. IronKey is built to permanently fastener and delete its contents aft 10 incorrect attempts, and Thomas has already burned eight. He has brought successful extracurricular help, from integer forensics steadfast Naxo to information researcher Chris Tarnovsky, but the wealth is inactive stuck down 2 last guesses.

A integer fortune, stuck successful 2011

Every truthful often, crypto’s committedness of self-sovereignty collides with thing painfully human: a forgotten password. Programmer Stefan Thomas learned that acquisition the hard mode aft earning 7,002 Bitcoin successful 2011 for making a “What is Bitcoin?” acquisition video, arsenic described successful most caller reporting. With Bitcoin trading astir $111,000, that stash has been valued astatine astir $777 million.

Thomas did what plentifulness of aboriginal believers did: helium tucked the keys distant for later. He stored the wallet’s private keys connected an encrypted USB thrust and wrote the password connected a portion of paper, past mislaid it. The wealth is inactive there, conscionable retired of reach, a reminder that “be your ain bank” tin besides mean “be your ain assistance desk.”

The IronKey: information that doesn’t negotiate

The instrumentality astatine the halfway of this is an IronKey, built to support secrets adjacent from determined attackers. That toughness comes with a hard limit: aft 10 incorrect password attempts, the thrust permanently locks and deletes its contents. Thomas has already burned 8 tries, leaving lone 2 guesses earlier the doorway closes for good, per accounts summarized successful recent coverage.

Even the shaper has offered nary comforting flight hatch. A Kingston spokesperson enactment it bluntly: “There is nary backup password oregon alternate method, different than the archetypal password that was acceptable up by the idiosyncratic to retrieve the data.” The IronKey was designed to defy extraction, and successful this story, that plan extremity is doing precisely what it says connected the box.

Calling successful specialists, and watching the stakes climb

As Bitcoin’s terms climbed, the numbers attached to Thomas’s lockout became surreal. His holdings were estimated astatine astir $91 cardinal successful 2020, past astir $235 cardinal by October 2023, with different relationship putting it adjacent $253 cardinal successful precocious 2025. The past 2 password attempts person efficaciously go a high-stakes determination tree: guess, oregon support waiting.

Thomas has explored betterment efforts, including turning down Unciphered due to the fact that helium already had verbal agreements with 2 different teams, Naxo and information researcher Chris Tarnovsky, known for chip-level reverse engineering, arsenic outlined successful a elaborate rundown. Tarnovsky told WIRED his engagement amounted to a azygous telephone successful 2023, saying, “I privation Stefan to cough up immoderate wealth up front.” Thomas summed up the gait successful a 2023 Thinking Crypto interview: “When you’re dealing with truthful overmuch money, everything takes forever.” As of precocious 2025, the IronKey was inactive stored successful a Swiss vault, and by mid-2026 there’s been nary confirmed recovery.