Unlocking a Fortune: Startup Claims to Crack Encrypted USB Drive Holding $241 Million in Bitcoin
A startup called Unciphered claims to have the capability to unlock an encrypted USB drive holding 7,002 bitcoins (BTC) worth $241.3 million. The drive belongs to Stefan Thomas, a Swiss crypto entrepreneur living in San Francisco, who lost the password and is now unable to access his fortune. Unciphered spent eight months developing a capability to crack this specific model of IronKey with the goal of helping Thomas. However, Thomas declined their assistance as he had already made a deal with two other cracking teams. With only two password guesses left, Thomas faces the risk of losing his bitcoin forever.
Bitget Launches Keyless MPC Wallet Solution
Crypto exchange Bitget announced the launch of its Bitget Wallet, formerly known as BitKeep Wallet, which offers a “keyless” Multi-Party Computation (MPC) Wallet solution. This wallet eliminates the need for users to store or memorize complex mnemonic phrases and private keys, providing a more user-friendly experience. Users can create an account through email login authentication, making it accessible for beginners. Additionally, the wallet allows users to perform cloud backups of their key shares to mitigate risks such as key misplacement or theft.
Bitcoin ASIC Prices Plummet Amid Rising Hashrate
The spot prices for existing bitcoin ASICs are experiencing all-time lows due to bitcoin’s increasing hashrate and the launch of next-generation miners. Models from the previous generation are being quoted for less than $10/TH/s, such as Antminer S19, Avalon 1326, and WhatsMiner M30S+. These prices reflect a significant drop since their launch around the bitcoin halving in 2020. Similar price changes were observed during the bear market of 2018-2019 with the Antminer S9.
BingX Adjusts Trading Fees and Enhances VIP Program
Crypto exchange BingX has restructured its fee system to lower overall trading costs for perpetual futures. These fee adjustments apply to both market takers and makers. BingX has also expanded its VIP program, offering a wider range of exclusive benefits. Users who reach a specific trading volume threshold can unlock the Supreme VIP status, which provides zero maker fees, reduced taker fees, and priority customer support.
Investment Firm to Host Nodes on Zetrix Blockchain Network
Summer Capital Limited, an investment management and advisory firm based in Hong Kong and Southeast Asia, plans to host nodes on Zetrix, a public blockchain platform operating the international supernode of China’s national blockchain, Xinghuo BIF. Zetrix is well-positioned to capitalize on the growth of the digital assets and blockchain industry in Hong Kong. Xinghuo BIF, developed by the Chinese Academy of Information & Communication Technology (CAICT), is China’s national blockchain infrastructure that provides a platform for businesses and governments to develop and deploy blockchain applications.
Hot Take: Startup Offers Hope for Lost Bitcoin Fortune
A startup claims it can unlock an encrypted USB drive containing $241 million worth of bitcoin, offering hope to its owner who lost the password. However, the owner declined their assistance as he had already made arrangements with other cracking teams. With only two password guesses left, his fortune hangs in the balance. Meanwhile, Bitget launches a keyless MPC wallet solution, providing a more user-friendly experience for beginners. Bitcoin ASIC prices hit all-time lows due to rising hashrate and newer miner models entering the market. BingX adjusts trading fees and enhances its VIP program to cater to user feedback. Lastly, an investment firm plans to host nodes on the Zetrix blockchain network, positioning itself for growth in the blockchain industry.
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