Lost Bitcoin wallet nears final password tries

• A Bitcoin wallet holding about US$840 million has only two password attempts remaining before its encrypted data could become permanently inaccessible.
• The owner faces the risk of losing access to one of the largest dormant Bitcoin holdings.
• The case highlights the long-term importance of securely storing private keys and wallet credentials.

A Bitcoin (CRYPTO:BTC) wallet containing an estimated US$840 million worth of Bitcoin has only two password attempts remaining before its encrypted data risks becoming permanently inaccessible.

The wallet owner has exhausted most of the available password guesses and now faces the possibility of losing access to the funds forever.

The owner said they are carefully considering the remaining attempts because another incorrect password could make the encrypted wallet file unusable.

The case has drawn attention because it involves one of the largest known dormant Bitcoin wallets at risk of being permanently locked.

Unlike banks, the Bitcoin network cannot reset passwords or recover private keys if a wallet owner loses access to their credentials.

Millions of Bitcoin are believed to be permanently inaccessible because owners have lost passwords, private keys or storage devices over the past decade.

The latest case highlights the responsibility that comes with self-custody, where users control their own assets without relying on a third party.

At the time of reporting, Bitcoin price was $62,782.61.