Bitcoin: potential millionaires have lost their passwords

He bet on the right horse, won a lot of money, but can't get to it.

The New York Times echoes the uncomfortable situation in which many Bitcoin owners find themselves, but who can no longer get their hands on it.

The price of this cryptocurrency, which is therefore virtual and only accessible online, is irregular but has soared in recent months to reach 30,000 dollars, approximately 25,000 euros.

He quadrupled in one year.

Those who have acquired it at a lower cost can make an interesting capital gain.

Older acquirers benefit from an operation that makes them rich, because Bitcoin was worth less than 1,000 euros until 2017 and only a few dozen euros until 2013.

One in five Bitcoin would no longer be accessible

The New York Times takes the example of Stefan Thomas, whose Bitcoins are potentially worth $ 220 million (around 183 million euros).

But he has a big problem: he can no longer find the access codes to recover them.

He is allowed ten attempts.

He has already tried eight, to no avail.

If he cannot find the correct password, his money is definitely lost.

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This case is far from isolated, according to the American media.

20% of Bitcoins would no longer be accessible to their owners.

This would represent around 116 billion euros.

A service that helps get their hands on the digital keys needed to access services like Bitcoin explains that requests have tripled last month.

Unlike a traditional bank or a service like Paypal, Bitcoin does not offer a way to recover your password.

From a technical point of view, only the creator of the account is able to know the access to it.

Success with criminals

Even to authorize a transaction, Bitcoin does not have access to the password.

This enhanced anonymity has made it successful with criminal networks.

Hackers who use ransomware are fond of it: many institutions, companies, municipalities, but also individuals, are victims of thieves who lock their computer remotely and promise to release access for a payment in Bitcoins.

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Butcoin can create both satisfaction and frustration at the same time.

Among those who are winners and losers, the New York Times takes the example of an entrepreneur from Barbados.

He can't get his hands on 800 Bitcoins worth around 25 million dollars (21 million euros) because of one of his employees who ... formatted the computer where the password was located .

But since he had not put all his Bitcoins in one basket, he was able to recently buy a property for an equivalent amount.