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Of the estimated 18.6 million bitcoins mined to date, about 20% are considered “lost”.
Self-proclaimed "ethical hackers" Chris and Charlie Brooks have launched an initiative to help people who have forgotten their bitcoin wallet passwords.
According to experts from Chainalysis, of the approximately 18.6 million bitcoins mined, about 20% is considered "lost", which is equivalent to approximately $ 140 billion that has not yet been claimed by the rightful owners.
“We found about 2.5% of the lost bitcoins, which, in our opinion, can still be recovered. That's roughly $ 3.2 billion, "Chris told HYPEBEAST.
The process of hacking a bitcoin wallet is easier than it sounds, although it requires a deep understanding of how people choose passwords and incredible persistence in repeating possible password combinations.
“It's a very simple process to come up with a list of the most suitable passwords. And the more information users can provide, the better, because then we can extrapolate how they create passwords and their thought process, ”explained Charlie.
The Brooks' efforts do not always lead to success, especially when someone's memories are a little hazy. According to Charlie, their current success rate hovers around 27%, which has dropped significantly due to fraudulent or inaccurate claims.
Self-proclaimed "ethical hackers" Chris and Charlie Brooks have launched an initiative to help people who have forgotten their bitcoin wallet passwords.
According to experts from Chainalysis, of the approximately 18.6 million bitcoins mined, about 20% is considered "lost", which is equivalent to approximately $ 140 billion that has not yet been claimed by the rightful owners.
“We found about 2.5% of the lost bitcoins, which, in our opinion, can still be recovered. That's roughly $ 3.2 billion, "Chris told HYPEBEAST.
The process of hacking a bitcoin wallet is easier than it sounds, although it requires a deep understanding of how people choose passwords and incredible persistence in repeating possible password combinations.
“It's a very simple process to come up with a list of the most suitable passwords. And the more information users can provide, the better, because then we can extrapolate how they create passwords and their thought process, ”explained Charlie.
The Brooks' efforts do not always lead to success, especially when someone's memories are a little hazy. According to Charlie, their current success rate hovers around 27%, which has dropped significantly due to fraudulent or inaccurate claims.
