In Germany, police confiscated a € 50 million Bitcoin wallet from a man. He spent years in prison without giving a password | Hromadske television

Prosecutor Sebastian Muhrer told about it, reports Reuters.

As Muhrer noted, law enforcement officers asked the man for the password, but he did not answer. The prosecutor suggests that the man himself may not know him.

While law enforcement officers tried to hack into an electronic wallet, the person had already served more than two years in prison and got out of it. He was convicted of secretly installing software on other computers in order to mine bitcoins with their help.

When he ended up in prison, the bitcoins seized from him cost several times less. However, over the past year, the value of the cryptocurrency has increased significantly, reaching a record level – 42 thousand dollars – in January. According to the Coindesk portal, as of February 5, the cost of 1 bitcoin is more than 38 thousand dollars.

Protecting cryptocurrency wallets

Losing passwords from bitcoin wallets is not uncommon. According to the company Chainalysis, which is engaged in statistical research of cryptocurrencies, access to about 20% of all existing Bitcoin has been lost by their owners. At the current exchange rate, this is approximately $ 137 billion.

Due to the sharp rise in the value of cryptocurrency in December 2020, there has been a significant increase in the number of people trying to access their lost bitcoins.

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