👀 Ones to watch: Undervalued stocks to buy before they report Q3 earningsSee Undervalued Stocks

Ukrainian politician losses $25 million worth of Bitcoin after deleting private key

Published 04/15/2021, 04:08 PM
Updated 04/15/2021, 04:30 PM
Ukrainian politician losses $25 million worth of Bitcoin after deleting private key
BTC/USD
-

A member of the Ukrainian parliament Davyd Arakhmia is probably counting his losses after deleting an encrypted file containing his private key from his hard drive.

In a recently shared interview, the politician disclosed that he lost approximately 400 Bitcoin because he was unable to access his crypto wallet. At current market prices, that’s about $25 million.

Before his political days, Arakhmia was an entrepreneur. During Bitcoin’s early days his company began accepting payments in the digital asset. Sadly, he probably forgot about it and erased the encrypted file containing the private key to his wallet. According to him, he needed to free up some hard disk space and deleted the encrypted file along with some other movies.

He could have been $25 million richer today if he still had access to his wallet.

Arakhmia is not the only one counting his losses. Earlier this year, BTC PEERS reported that Stefan Thomas, a German-born programmer lost the private key to a wallet containing over 7,000 Bitcoin. But unlike Arakhamia’s relatively lost cause, Thomas still had two more attempts at accessing his wallet before it gets encrypted.

Meanwhile, Ukrainian officials are now required by law to declare their cryptocurrency holdings.

Continue reading on BTC Peers

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.