After forgetting about it for 11 years, a man regained access to his Bitcoin wallet worth $3 million with the help of hackers (Kanchanara / Unsplash)
The Recovery Journey
A man finally regained access to his Bitcoin wallet containing 43.6 BTC (valued at $3 million) after forgetting the password for over a decade. Initially concerned about cryptocurrency security, he had used a password generator called RoboForm but later lost the credentials.
The Breakthrough
He reached out to Joe Grand, known as "Kingpin," for help decrypting the file containing the Bitcoin wallet. At the time he lost access, Bitcoin was priced between $3,000–$4,000, but its value has since surged by over 20,000%.
Grand used a tool developed by the NSA (National Security Agency) to reverse-engineer the password generator's code. He discovered that while the passwords appeared random, they weren’t entirely unique. By adjusting the date to 2013 (the year the password was created), he reconstructed the original sequence.
The Final Attempt
After multiple failures, Grand and his colleague Bruno generated millions of possible combinations. With persistence—and a bit of luck—they successfully cracked the password.
Grand emphasized that their success relied heavily on correct parameter settings and a precise timeframe. Even minor deviations could have led to endless unsuccessful attempts.
👉 Learn how to secure your crypto assets today
Key Takeaways
- Long-term crypto storage risks: Forgetting passwords or losing access can lock away fortunes.
- Password generators: While useful, they aren’t foolproof if the master key is lost.
- Professional assistance: Ethical hackers like Grand can sometimes recover lost assets.
FAQs
Q: How can I avoid losing access to my Bitcoin wallet?
A: Use secure backups (e.g., hardware wallets or encrypted paper backups) and store passwords in multiple trusted locations.
Q: Are password generators safe for crypto wallets?
A: They’re convenient but risky if the generator’s master key is lost. Consider mnemonic phrases (seed words) for better recoverability.
Q: What’s the best way to store Bitcoin long-term?
A: Cold storage (offline wallets) combined with redundant backups is ideal for large holdings.
👉 Explore advanced crypto security solutions
Source: Unilad | Image credit: Unsplash | AI-assisted content, reviewed by editorial team.