German prosecutors have confiscated more than $60 million worth of #bitcoin from a fraudster. There’s only one problem: they can’t unlock the money because he won’t give them the password. @johnodonnell21 reports https://reut.rs/39QG265  1/4
The man was sentenced to jail and has since served his term, maintaining his silence throughout while police made repeated failed efforts to crack the code to access more than 1,700 bitcoin, said a prosecutor in the Bavarian town of Kempten 2/4
Bitcoin is stored on a digital wallet that is secured through encryption. A password is used as a decryption key to open the wallet and access the bitcoin. When a password is lost the user cannot open the wallet 3/4
The fraudster had been sentenced to more than two years in jail for covertly installing software on other computers to harness their power to 'mine' bitcoin https://reut.rs/39QG265  4/4
Police seize $60 million of bitcoin! Now, where's the password?

German prosecutors have confiscated more than 50 million euros ($60 million) worth of bitcoin from a fraudster. There's only one problem: they can't unlock the money because he won't give them the...

https://reut.rs/39QG265
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