The post Unciphered CEO still hopeful for chance to unlock $230M in bitcoin appeared on BitcoinEthereumNews.com.

The CEO of a crypto recovery firm that claims to hold the secret to recovering more than $230 million in locked bitcoin says the company is still hoping to persuade its reluctant owner to accept its offer. The crypto in question is allegedly stored on a ‘military-grade’ IronKey hard drive and is currently locked away in a Swiss vault. This type of drive gives users just 10 password attempts before self-destructing and rendering anything stored on it lost forever. The drive’s owner, Swiss crypto entrepreneur Stefan Thomas, has reportedly used up eight of these attempts. However, despite Seattle-based Unciphered saying it has cracked drives similar to this one in mere hours, Thomas has turned down its offer of help due to him already having a number of ‘handshake deals’ with other specialists. Unciphered CEO Eric Michaud spoke to Protos about the offer and how, despite receiving no response from an open letter to Thomas, it hopes to persuade him to trust its technology. “We’ve done a great deal of work to crack the IronKey, and even more so to make the attack replicable and safe,” said Michaud. “So, when Stefan didn’t match our enthusiasm it was a disappointment. We’re still hopeful he’ll come around. We’re excited to help him.” According to Michaud, after nearly eight months of research, his company is incredibly confident that it can crack the drive. He also believes that it’s not too late for Thomas to change his mind about who he wants to retrieve his locked fortune. “We’ve spent a great deal of time and energy building this attack specifically for his IronKey, and have done so in such a way that we’re extremely confident in both the process and the outcome,” he said. “Stefan hasn’t hired anybody yet. He has two ‘handshake deals’ with…

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Filed under: News - @ October 30, 2023 8:14 pm