David Schwartz, the Ripple CTO, told his story about the loss of bitcoins and how they were miraculously recovered.
On a topic at Quora, Ripple’s technology director explained how he lost and recovered 7.5 bitcoins.
The current Ripple CTO is one of the leading developers of XRP Ledger. He has also developed systems used by organizations like CNN and NSA.
At Quora he answers questions about blockchain, and in a question about his colleague at Ripple, Stefan Thomas, who forgot the password to a wallet and lost access to billions in Bitcoin, he said that it’s normal to hear reports from people who have had large amounts of Bitcoin and lost it.
He took advantage of the topic to share his own story about the loss of Bitcoins and how it had a happy ending.
Bitcoins forgotten in a cryptomaniac casino
About 10 years ago, when Bitcoin was worth approximately $ 20, Schwartz decided to open an account in a crypto casino and deposited 8 bitcoins to play.
The value of these bitcoins is currently approximately $ 1.5 million. At the time, Schwartz did not like the casino, stopped playing and forgot the coins there.
Seven years later, when Ripple’s CTO realized how much the Bitcoin had valued, he decided to try to recover the coins. The problem was that he couldn’t remember the name of the casino.
„I couldn’t remember anything. I searched email, I searched the web, I looked everywhere. I couldn’t find any information“.
Woke up and remembered the password
One day he simply woke up and the name finally came to mind. He wrote it down on his cell phone immediately so as not to forget it.
Days later he checked the phone and started to search anything on his computer that would help him. He found an old email linked to the account and started the password recovery process.
„I woke up suddenly remembering the casino name and grabbed my phone to save it and not forget it again. A few days later, I remembered that I had done this, I couldn’t remember the name, but I checked my phone“.
To his surprise, besides finding the casino platform still working, he managed to recover the password and withdraw the bitcoins.
The procedure worked. Schwartz found 7.5 bitcoins in his old account and managed to withdraw the coins successfully.
„I ended up finding an old e-mail with some account information, but they don’t have a web page, you had to download a client. It was still working, so I downloaded it. I couldn’t remember my password, but the „Forgot my password“ button worked. My account had 7.5 bitcoins! I clicked on „withdraw“ and to my complete and absolute surprise, it worked. At this point, those 7.5 bitcoins were worth about $ 130,000 (R$ 687,000) It was a very good day!“.
Schwartz was lucky to recover the bitcoins, since few old casino platforms are still running.
At that time it was common for users to send bitcoins anywhere and not care much if they were going to lose, after all, nobody could predict that the digital currency would be worth $40 in less than 10 years.
Nothing better than finding bitcoins.