Programmer Stefan Thomas has just two password attempts left to unlock an IronKey USB drive holding the private keys to 7,002 Bitcoin he received in 2011 for making a “What is Bitcoin?” video. The device is designed to permanently lock and delete its contents after 10 wrong tries, and Thomas has already used eight, with the stash recently valued at about $777 million at around $111,000 per BTC.
Key Takeaways
Stefan Thomas has 2 IronKey attempts left to recover 7,002 BTC worth about $777M in 2026.Kingston says no recovery exists after 10 failed tries, highlighting Bitcoin self-custody risks.Naxo and Chris Tarnovsky pursued recovery, but no breakthrough was confirmed by mid-2026.Even the manufacturer has offered no comforting escape hatch. A Kingston spokesperson put it bluntly: “There is no backup password or alternative method, other than the original password that was set up by the user to retrieve the data.” The IronKey was designed to resist extraction, and in this story, that design goal is doing exactly what it says on the box.
Calling in specialists, and watching the stakes climb
