A Well-Known Computer Engineer Cracks a Trezor Wallet Containing $2 Million in Cryptocurrency

<p>In 2018, friends invested $50,000 in Theta but were unable to access their Trezor Ones. They are now $2 million richer, though, thanks to the assistance of a single hacker in cracking the wallet.</p> <p>With the assistance of famous computer programmer and hardware hacker Joe Grand, New York City entrepreneur Dan Reich recently regained access to more than $2 million in cryptocurrency stored in a Trezor One hardware wallet.</p> <p>In a recent YouTube video, the Portland-based hacker known as "Kingpin" detailed how he cracked the wallet in order to recover the "lost" crypto funds.</p> <p>The Beginnings</p> <p>Dan Reich and a friend spent $50,000 earlier in 2018 on the newly minted Theta cryptocurrency, which was selling at roughly 21 cents at the time.</p> <p>They initially stored the tokens on a Chinese exchange but were forced to move them to a Trezor One hardware wallet due to the local government's increasing crackdown on cryptocurrencies. They overlooked the coins, however.</p> <p>Reich soon realised his error and sold the Theta tokens. Nevertheless, his friend had already misplaced the piece of paper on which he had written the wallet's PIN, and they were forced to begin guessing the five-digit PIN. They have already made multiple incorrect guesses at this point.</p> <p>After 12 erroneous guesses, the duo decided to call it quits, as the wallet's data would be immediately deleted after the 16th incorrect guess.</p> <p>$50,000 $2,000,000 profit</p> <p>As the price of Theta has continued to rise over the years, the value of their "lost" cryptocurrency fortune has increased to $2 million this year. Reich and his associates increased their efforts to recover access to the monies, motivated by their crypto windfall.</p> <p>They soon located a Swiss banker who claimed to have French friends capable of cracking the wallet in a laboratory. They insisted, however, that Reich not visit the lab or be aware of the identities of those allegedly cracking the wallet in order to perform the job.</p> <p>Despite