- Unciphered “cracked the code” to easily access locked BTCs stored in an encrypted IronKey USB model.
- Unciphered reached out to Stefan Thomas who could not access his 7,002 Bitcoins as he lost his password.
- Thomas rejected their offer as he had already made a deal with two other crypto recovery organizations.
Currently, one of the underlying issues faced in the modern world is that several BTCs are locked up because users have forgotten their passphrase or seed phrase! Seeing this as a crucial issue, several crypto recovery solution providers have lined up to help users access their inaccessible BTCs.
As reported by WIRED, one such organization called Unciphered, a Seattle-based startup lab, had apparently “cracked the code” to easily access locked BTCs stored in an encrypted IronKey USB model. Moreover, Unciphered even reached out to Stefan Thomas, an open-source developer, who could not access his 7,002 Bitcoins as he lost his password.
However, Thomas rejected their offer as he had already made a deal with two other crypto recovery organizations. The open-source developer had also offered a portion of the proceeds if either of the teams could unlock the drive. In an email sent to WIRED, Thomas stressed:
I have already been working with a different set of experts on the recovery so I’m no longer free to negotiate with someone new.
Furthermore, Thomas also mentioned that the current teams could decide to subcontract Unciphered if they feel that’s the best option. One of the reasons why he is being careful before entrusting the BTC recovery procedure to any organization is due to the fact that there are two more tries remaining to guess the correct password.
If a user makes 10 incorrect password guesses, IronKeys will permanently erase all the contents within the device. Although Uncipher did not reveal the exact way they would recover the passphrase, the team had developed an “IronKey password-cracking technique,” which gave them infinite tries.
Even though Unciphered’s help has been rejected by Thomas, the organization is still hopeful. However, on the off chance, Thomas doesn’t work with them, Unciphered promises to help users who are unable to access their locked wallets.
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