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A German man kept $60 million in Bitcoin from the police without revealing his password

A German man kept $60 million in Bitcoin from the police without revealing his password
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The beauty of Bitcoin lies in its many obvious benefits, such as the ability to anonymously own and transfer safely, but also often causes similar situations: German police seized more than 50 million euros (60 million US dollars) of Bitcoin, but It is not possible to access any of them because, as Reuters reported, the person who obtained the information from it would not tell them their password.

The man was sentenced for secretly installing Bitcoin mining software on people’s computers and has served his sentence in prison. But in the whole process, he never felt shared by the intervention of the German authorities. It raises a big question, perhaps obvious: can you really catch something that you cannot access or use, especially money?

A German man kept $60 million in Bitcoin from the police without revealing his password
A German man kept $60 million in Bitcoin from the police without revealing his password

The more obvious problem is that there are often passwords, PINs, and their collective lack in stories about Bitcoin, illegal or other aspects.

The New York Times recently had a story about a programmer who locked his Bitcoin wealth in a secure hard drive. The data revealed an amazing statistic: Today, about 20% of Bitcoin (a total of About 140 billion U.S. dollars) are completely lost or locked in wallets with lost passwords, which means they are completely inaccessible.

So maybe the German Bitcoin enthusiast is locking it on the person who locked him, or maybe he just forgot the password. Reuters reported that prosecutors “ensure that the man cannot get his generosity,” but if they can’t get it either, I can say with certainty that the lost bitcoins just got bigger.

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