German investigators have seized in excess of 50 million euros ($60 million) worth of bitcoin from a fraudster. There’s just a single issue: They can’t open the cash since he will not give them the password.
The man was condemned to prison and has since served his term, keeping up his quietness all through while police put forth rehashed bombed attempts to figure out the code to get to more than 1,700 bitcoin, said an examiner in the Bavarian town of Kempten.
“We asked him yet he didn’t say,” examiner Sebastian Murer told on Friday. “Maybe he doesn’t have a clue.”
Bitcoin is put away on programming known as an advanced wallet that is gotten through encryption. A password is utilized as a decoding key to open the wallet and access the bitcoin. At the point when a password is lost, the client can’t open the wallet.
The fraudster had been condemned to over two years in prison for secretly introducing programming on different PCs to bridle their ability to “mine,” or create, bitcoin.
At the point when he went in jail, his bitcoin reserve would have been worth a small portion of the current worth. The cost of bitcoin has flooded over the previous year, hitting a record high of $42,000 in January. It was exchanging at $37,577 on Friday, as indicated by cryptocurrency and blockchain site Coindesk.