German-born programmer Stefan Thomas told the Times he forgot the password to IronKey, an secure flash drive has access to 7,002 Bitcoin - $220 million worth. IronKey gives users 10 guesses for their passwords before seizing its contents.
"I would just lay in bed and think about it," Thomas told the New York Times Nathaniel Popper. "Then I would go to the computer with some new strategy, and it wouldn't work, and I would be desperate again."
quite surprised by this news because his Bitcoin trapped in his hardware wallet is very much. Don't underestimate your private key and password, if you haven't prepared the best place (easy to remember and reach) to store your private key and password then
do it right now..
https://markets.businessinsider.com/currencies/news/programmer-locked-out-220-million-in-bitcoin-forgotten-password-2021-1-1029961378 This is a damn bad news. Some people don't secure their private key. They don't save it in secure places or sometime they forgot to save it. I think they need to save it in secure place. Because if he don't save it in secure place then it have a chance to be hacked. Private keys and password are so much important. Otherwise you will lose your money easily. If their any option of KYC then he can do it for extra security. But this is a must to put private keys in secure place or write down it in diary.