Millions Of Dollars Are Gone Forever Thanks To Forgotten Passwords

Everyone's forgotten a password, but what if it kept you from your money?

A programmer in San Francisco has just two guesses left to figure out the password on his digital wallet that contains more than 7,000 Bitcoins that are worth upwards of $220 million.

Amazingly, the guy’s dilemma is part of an estimated $140-billion worth of tokens that are either lost or inaccessible. The cryptocurrency is going through a boom and is up to a record high of $41,946.

Bitcoin blog Chainalysis estimates that nearly 20% of Bitcoins are permanently lost, as the decentralized nature of the cryptocurrency is part of the appeal. Users are given private keys that are required for moving or spending purposes, but no record of passwords are kept.

Source: New York Times