<\/p>\n
Stefan Thomas, the former CTO of Ripple, holds 7,002 bitcoins, currently valued at $244 million, in a hard drive he can no longer access because he misplaced the digital keys.<\/p>\n
The programmer received these bitcoins in 2011 as payment for an educational video he created about bitcoin, only to lose the access code later that same year.<\/p>\n
Crypto security specialists at Unciphered have now thrown Thomas a potential lifeline.\u00a0<\/p>\n
The firm penned<\/a> an open letter to him on Oct. 25, claiming they have the technical ability to outsmart Thomas\u2019s \u201cIronKey,\u201d the encrypted USB device, and help him gain access to his bitcoin fortune.<\/p>\n Years ago, Thomas misplaced the paper containing his IronKey password, a device that permits only 10 attempts before permanently encrypting its contents.\u00a0<\/p>\n After fruitlessly trying eight of his go-to passwords, he\u2019s down to his last two guesses.\u00a0<\/p>\n The drama gained attention in 2021, following a New York Times article detailing<\/a> how the programmer had just two shots left to reclaim his crypto stash.<\/p>\n Unciphered has claimed it successfully recovered data from an IronKey similar to Thomas\u2019s, also notably accomplishing this feat for digital culture publication Wired.\u00a0<\/p>\n They utilized a \u201csecret cracking technique\u201d over months, permitting them more than the standard 10 attempts, Wired reported<\/a>.<\/p>\n Pooling their resources, the company\u2019s founders reportedly assembled a team called Project Everest, comprising roughly 10 members, including staff and external advisors.\u00a0<\/p>\n Notably, several team members had previously sharpened their skills at the National Security Agency or similar high-profile government entities.<\/p>\n Unciphered is keeping its research methods and the specific technique used to bypass the IronKey\u2019s guess limit under wraps, citing the potential risk associated with exposing such vulnerabilities.\u00a0<\/p>\n The firm says this secrecy is necessary since the outdated IronKey models they breached can\u2019t be updated and might still hold sensitive data.<\/p>\n Thomas has so far declined Unciphered\u2019s help, per Wired.\u00a0<\/p>\n Blockworks has reached out to the former Ripple CTO for comment.<\/p>\n He is said to have already struck a deal with two other cracking teams \u2014 cybersecurity firm Naxo and independent researcher Chris Tarnovsky \u2014 promising them a reward for unlocking the drive.\u00a0<\/p>\n Yet, Naxo\u2019s progress remains uncertain, and Tarnovsky is waiting for some payment from Thomas to continue.<\/p>\n Despite no success so far from the two parties, Thomas appears to be sticking to his original pact, giving the initial teams more leeway before seeking new aid.<\/p>\n \u201cIt\u2019s possible that the current team could decide to subcontract Unciphered if they feel that\u2019s the best option. We\u2019ll have to wait and see,\u201d Thomas told the outlet.<\/p>\n Don\u2019t miss the next big story \u2013 join our\u00a0free daily newsletter<\/a>.<\/strong><\/p>\n
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