A programmer has only two password attempts left, and 7,002 BTC worth nearly $800 million may be permanently locked.

BlockBeats message, July 17: Programmer Stefan Thomas currently has only two password attempts left to unlock an IronKey encrypted USB drive containing 7,002 bitcoin private keys. If he enters an incorrect password 10 times in a row, the device will permanently lock and delete the data, and Thomas has already used 8 attempts.

These bitcoins came from 2011, when Thomas made an educational video titled “What is Bitcoin?” and used 7,002 BTC as compensation. Based on the current BTC price of about $111,000, this asset is worth approximately $777 million.

Thomas previously stored his wallet private keys on the encrypted USB drive and wrote down the password on paper, but later lost the password. Although the bitcoin still exists in the on-chain address, the funds cannot be moved because the private keys cannot be accessed.

The IronKey USB drive uses high-strength encryption. After 10 consecutive incorrect password entries, it triggers a permanent lock mechanism. Manufacturer Kingston says that, aside from the original password set by the user, there is no backup password or other recovery method.

With the rise in BTC price, the value of the locked asset continues to increase. Thomas sought help from multiple parties, including the digital forensics company Naxo and security researcher Chris Tarnovsky, but as of now, there has been no report of a successful recovery.