Here is the research about a guy that tries to recover his money from Trezor….
One of the most important features of Bitcoin and the Blockchain on which it rests is decentralization. The ability to control and transact with your own Bitcoin without the need for a third party to process or facilitate transfer is what makes Bitcoin so revolutionary, in the truest sense of the word.
It also comes with risks, however, In order to enjoy full decentralization, you’ve got to be willing to take the security and storage of your Bitcoin into your own hands.
Many do this with a Trezor , or other hardware device. These devices are supposed to be impenetrable and they have long been at the cutting edge of self-managed Bitcoin security.
When you are in control of your own storage, however, things can go wrong.
Over the weekend, former Wired editor and founder of Boing Boing and Make Magazine, Mark Frauenfelder published this account of his efforts to regain ‘lost’ Bitcoin that were held on a Trezor device for which Frauenfelder forgot his pin code and lost the string of words designed to aid recovery in exactly that situation.
After an initial bout of failed guesses (the device doubles the amount of time a user is required to wait before entering a pin attempt each time an incorrect entry is used), Mark Frauenfelder uses hypnosis and – eventually – a hack designed and created by a teen hacker, who was introduced to him by Andreas Antonopoulos, Bitcoin enthusiast and author of some of the most trusted and reliable commentary in the space.
When he initially bought the Bitcoin back in January 2016, which totaled out at 7.4, they were worth around $3,000. Fast forward to today and the same Bitcoin are worth more than $30,000– a substantial sum to lose with a forgotten pin.
Did he manage to recover them? Here’s the full story for anyone that wants to find out.
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