A Swiss crypto trader has lost a pair of hardware wallets with a combined total of 800,000 francs’ worth of cryptocurrencies stored on them. A 40,000-franc ($40,500) reward is available for any who come forward with information pertaining to their whereabouts.
An unfortunate Swiss crypto trader has recently shared his plight with the world, following the loss of two hardware wallets with a portfolio worth over 800,000 francs (over $815,000) contained in them.
Thomas T., of Lucerne, Switzerland, lost a bag containing the wallets on April 9, with the 27-year old unsure of whether they were misplaced by him or stolen by someone else. Usually stored in a safety deposit box at his local bank, the crypto enthusiast stated that the wallets are removed only twice per year, so that he can carry out transactions, before being put back to place, almost immediately.
According to reports he had the wallets with him whilst shopping, and is unsure of whether he accidentally left his bag behind, or whether he had it taken from him.
A 40,00-Franc Reward
Following the discovery of his misfortune, Mr T was quick to report the incident to the police, before heading online to publicise his story and email address, hoping someone can help. He also made it known that a 40,000-franc reward was being offered to anyone with information.
It’s a sizeable finding fee for any individual who can help, particularly given that the funds stored on the Keepkey and Ledger Nano S wallets can only be accessed by those who have their private keys.
This makes it unlikely that any unwitting thief will be able to access the cryptocurrencies stored on these wallets, yet it also acts as a stark warning to traders to have a paper backup always at hand.
Indeed in some cases it is very simple to avoid such a situation arising in the first place, thanks to the existence of recovery strings– a series of words that can be noted down and used in scenarios like this one.
The moral of the story is a simple one: when using hardware wallets, always have the proper precautions in place to protect your investment and ensure that you, and you alone, have continuing access to it.