Hacker Helps a Crypto Owner Recover Millions of Worth of Cryptocurrency

cryptocurrency hackers by Kevin Ku on Unsplash
cryptocurrency hackers by Kevin Ku on Unsplash

Dan Reich a crypto owner who lost millions worth of cryptocurrency from a hardware wallet he lost has hired a hacker to recover the password, and fortunately for him, he was able to retrieve them.

The Verge reported in a story called “Cracking a $2 million crypto wallet,” that Reich and his friend used $50,000 worth of Bitcoin to buy a new cryptocurrency called Theta tokens. The crypto was worth 21 cents for each token, and the two friends stored them in a Trezor hardware wallet.

After the digital token plunged to a fourth of its value, Reich wanted to cash out. However, he and his friend forgot the pin, according to the Verge. After 12 unlucky guesses, Reich and his friends surrendered, since they didn’t want to reach the 16th guess, at which point the wallet would delete all the data, and the cryptos included. Reich absorbed the loss, until 2020 when the cryptocurrency rebounded, making his wallet worth millions, according to the same report.

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That’s when Reich started looking for hackers. In February 2021, when Reich’s wallet was worth around $2.5 million, the investor found Joe Grand, an electrical engineer and hardware hacker famous as Kingpin.