RATE Group | How This Investor Lost $60 Million in Bitcoin and Never Got it Back
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How This Investor Lost $60 Million in Bitcoin and Never Got it Back

27 May How This Investor Lost $60 Million in Bitcoin and Never Got it Back

Posted at 22:12h in Bitcoin News by

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James Howells, a 32-year-old IT specialist who recently switched to a full-time cryptocurrency investor, told New York Post that he had lost more than $60 million in bitcoin in 2009 and was never able to retrieve it.

7,500 BTC

In 2009, the debut year of BTC during which the price of BTC was below $1 and when the hash power of bitcoin was extremely low due to the lack of individuals mining the cryptocurrency, Howells mined more than 7,500 bitcoin in a week using basic GPU mining equipment.

In 2013, when the price of BTC surpassed the $100 mark, Howells started to search for the thumb drive which he used back in 2009 to store private keys to the 7,500 BTC he had mined. He then recalled that instead of throwing the empty thumb drive, he mistakenly threw away the thumb drive with his private keys.

“I mined more than 7,500 coins over one week’s time in 2009; there were just six of us doing it…

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