A bitcoiner has shared his story of how he lost access to his 7,002 bitcoins, worth about $240 million at the current price. He has lost the piece of paper on which he wrote his password and now has two guesses left before his device seizes up and encrypts its contents forever.

7,002 Bitcoins Worth $240 Million at Stake

Stefan Thomas, a German-born programmer living in San Francisco, has been unable to access his 7,002 bitcoins, which is worth almost $240 million at the current price, the New York Times reported Tuesday.

He stored the private key for his bitcoins on a small, encrypted hard drive known as an Ironkey, and wrote the password to the device down on paper. However, he said he lost the piece of paper where he wrote down the password years ago. The device gives users 10 guesses before it seizes up and encrypts its contents forever. He has used up eight of the 10 allotments without success. He was quoted as saying:

I would just lay in bed and think about it. Then I would go to the computer…

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Source: https://news.bitcoin.com/bitcoiner-loses-password-to-7002-bitcoins-worth-240-million/