![]() It’s likely you know that head-scratching, ‘what’s my password’ feeling well. The problem is, Thomas can’t remember what the password is. A wallet that contains 7,002 Bitcoin, which at the time of writing is worth around $220 million. Thomas is the man who has two guesses left to figure out the password to his IronKey, a small hard drive that contains the private keys to his digital wallet. But what hadn’t come under such scrutiny (or at least until the NY Times broke the story) was the question: what happens when you forget the password to your digital crypto wallet? The lost password worth $220 millionįor any readers who haven’t heard of Stefan Thomas, here’s a quick recap of his story. The highs and lows of Bitcoin have been well documented - the value of Bitcoin rose roughly 224% in the year 2020. For developers Everything you need to get started with Onfido.īack in January, the New York Times published the article: Lost passwords lock millionaires out of their Bitcoin fortunes.Transport Verify renters, drivers, and riders.Telecommunications Meet regulatory requirements and stop fraud.Retail & eCommerce Prevent account takeover and chargeback fraud.Sharing economy Protect your platform, reputation, and users.Healthcare Know your patient using digital verification.Gaming Seamlessly onboard players and meet KYC requirements.Financial services Automate onboarding, prevent fraud, and navigate KYC.User onboarding Automate onboarding and maximize conversion.Driver registration Meet regulatory needs and protect your fleet.Identity verification Create confidence in user identity.KYC Navigate know your customer compliance.Fraud prevention Prevent fraud to protect your business and customers.Cost of customer acquisition Automate processes to reduce the cost of customer acquisition.Global compliance Navigate regulatory compliance in each region.Customer acquisition Drive growth using automated onboarding.
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