Can You Remember the password to $220m in Bitcoin?

Let me explain my reaction to the news that a San Francisco-based programmer has around $220m in bitcoin, but cannot remember the password. According to the New York Times, Stefan Thomas has only two more guesses to access the keys to a digital wallet that contains his fortune. Otherwise he loses the lot.

How secure is your bitcoin wallet private key?

The key is turned into a 256-bit number using the SHA-256 hash algorithm. Since SHA-256 is a deterministic method, users can always use the same password to recreate their private key. Still, there is one thing you need to consider: using this method means the security of your Bitcoin wallet now depends on how unpredictable your password is.

How to hack a bitcoin wallet?

1 Try to log in with every possible password combination you remember using. 2 Use the 12-word Wallet Recovery Phrase to create a new wallet containing all of the Bitcoin addresses and balances of your previous wallet. 3 Use a password cracker to hack your wallet.

How do I recover my Bitcoin wallet password?

To regain access to a Bitcoin wallet, users need the latest copy of their wallet file, at least an idea of what their password is, a computer with a super-fast CPU, a list of potential passwords, and time and patience. Without a password cracking tool, however, the wallet won't open.