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- 🍁 Golden Autumn, Big Prizes Await!
Gate Square Growth Points Lucky Draw Carnival Round 1️⃣ 3️⃣ Is Now Live!
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7,002 Bitcoins Locked Away Forever: Stefan Thomas' Ongoing Saga
Imagine...
You wake up one morning. $560 million in Bitcoin is yours. But you can't access it. The password? Gone. Every wrong guess pushes you closer to losing it all. Forever.
This isn't some made-up story. It's what Stefan Thomas has lived with for 14 years now. The former Ripple CTO can't get to his own millions.
A forgotten treasure
Back in 2011, Stefan made an educational video about Bitcoin. Got paid 7,002 BTC. Just a few dollars then. He decided to keep them. Smart move. Kind of.
He put everything in an IronKey. Ultra-secure. Created a password. Seemed unforgettable at the time. Until it wasn't.
The Countdown
The IronKey is no joke. Ten password attempts. That's it. Stefan's already used eight. Just two chances left.
Think about that pressure. Each try could be the last. Each keystroke might erase half a billion dollars.
So close, yet so far
Bitcoin's value shot up over the years. Stefan watched helplessly. By September 2025, his 7,002 BTC reached about $560 million. All locked away. Untouchable.
Desperate measures
He's tried everything. Data recovery experts couldn't crack it. Even tried hypnotherapy. Nothing worked.
He's searched everywhere. Old notebooks. Computer files. No clues.
Now he's just waiting. Not risking those last two attempts. The coins sit there. Probably forever.
Moving on
Life goes on, apparently. Stefan founded Coil. Works on the Interledger Protocol. Still making his mark in blockchain.
"I've learned to appreciate what I have," he says. Not letting what's lost consume him. Brave words.
The warning
Stefan's nightmare is a lesson for everyone in crypto:
Get serious about password management. Back up your stuff. Then back it up again. Store your keys properly. It matters.
The haunting
What would you do? Risk those final two tries? Or live knowing millions are just beyond reach?
One password. Two chances. A lifetime of what-ifs.
It's weird to think about. In the crypto world, you're your own bank. And sometimes, it seems, your own worst enemy.