Have They Tried "12345" Or "Password"?...

[vienna]

Yet another reason not to get dependent on keeping important matters in the 'cloud':


$190 million gone forever? Crypto boss dies with passwords needed to unlock customer accounts --

https://www.foxnews.com/tech/cryptocurrency-exchange-chief-dies-with-passwords-needed-to-unlock-customers-190m-reports-say


Crypto Exchange Says It Can't Repay $190 Million to Clients After Founder Dies With Only Password --

https://gizmodo.com/crypto-exchange-says-it-cant-repay-190-million-to-clie-1832309454









<O>

[Skybird]

:har: if true.

[Buddahaid]

This guy figured out how to really take it with him.

[Sean C]

He should have used something like this (http://users.telenet.be/d.rijmenants/papers/secure_code_splitter.pdf) to allow several people to access the account in case of an emergency. All parties would have to agree to access the account, so the more people involved - the more secure the secret.


Or maybe he isn't really dead and he and his wife plan to make off with the money. :hmmm:

[Jimbuna]

This guy figured out how to really take it with him.

True that :yep::)

[Platapus]

I wonder if they really don't know the password or are they just claiming they don't know the password.

How can anyone tell. I would be willing to wait a year or two before quietly withdrawing 140 million.

[Skybird]

There is no "quietness" in a blockchain. ;) Thats the main point of it. ;) ;)



In principle all cryptocurrencies used currently are vulnerable for this worst case scenario. I bet that at least 9 out of 10 users of cryptocurrency have no idea of that this is so. The companies bringing out the currency in question are those who also offer the service but also store and manage all the available value of that said currecny, its reach ends within the realm of these companies. That is becasue it is not just one currency many actors contirbute tok, but every actor brings out his own currency. And that is the problem. Its as if there are as many different dollars as there are banks: every bank has its own individual dollar. Kill the bank, and its dollar scheme dies with it.



Cryptocurrencies only will gain my attention when there is just one or two such currencies that get accepted by many different actors, so that if one actor falls out the others form a web to compensate for the damage, like FIAT money systems today try to do. Right now going into cryptos in bigger style is just gambling. Noth accidents and criminal intention can catch you.



Different to many others I do not take it for granted that we will see this happenign any time soon. States, central banks and FIAT banks have too high interest in fighting cryptocurrencies and keeping them down. And governments all the many dirty little tools and cheap tricks to make sure it will go like this. It will get manipulated like they manipulate the gold price as well.