A person who started mining in 2009, when Bitcoin was launched, lost access to all of it when he formatted the hard drive where he stored his BTC.
There have been countless Bitcoin stories that were acquired years ago but were later lost forgotten or by a simple mistake. The most popular of these was when an IT worker named James Howells, who has been mining Bitcoin with his home computer since 2009, trashed the hard disk that holds 7,500 BTC. Recently, an Irish drug dealer lost 6,000 BTC hidden in a fishing gear when the landlord dumped the fishing gear.
The latest story of lost Bitcoins is from a Reddit user who mined in 2009 but later lost a large number of BTC owned.
The Reddit user says he produced more than 100 Bitcoins through mining in 2009, but formatted the hard drive he stored in May of the same year and is no longer able to access his Bitcoins. The Bitcoin user, who still holds the hard drive, announced that he is looking for a way to access these BTCs. He stated that the Bitcoins key was saved as a text file on the drive. The user stated that the hard disk was last used in 2013.
Bitcoin is traded at $ 10,130 within the minutes of the news. 100 BTC is worth $ 1 million 13 thousand at current prices.
Can the lost Bitcoins be recovered?
The answer to this question depends on how Bitcoins are lost. Taking the example in this article, there are many tools that can restore hard disks, both hardware and software. Likewise, there are numerous tools designed to recover deleted data. Although there is no guarantee, there is always a possibility to restore data that has been deleted on the hard drive.
The best way to protect against possible losses is cold storage, usually through hardware wallets. However, the recovery statements used for these devices should be written carefully and stored in a very safe place.