When Yuki and Art Williams purchased 3,000 units of Ethereum (ETH) in 2014, the cryptocurrency wasn’t worth much. However, their investment is now worth about $5.8 million. Unfortunately, a small but crucial mistake back then is keeping the couple from accessing their fortune, and they are currently exploring all solutions.
A $5.8 Million Technical Problem
Yuki and Art Williams didn’t download a unique JSON file when they bought their ETH coins in 2014. Back then, buyers were required to wait for about an hour and a half for a complementary JSON file to download after buying ETH coins. However, the couple says that the file didn’t download, and they didn’t think much about it back then.
The JSON is needed to transact ETH coins. Consequently, the couple can still see their fortune on their wallet, but they cannot access or transact it.
Yuri and Art Williams have been exploring multiple solutions to cash in on their $5.8 million fortune. Ethereum parent company, based in Switzerland, had promised to provide the couple with a backup JSON file. However, this promise remains unfulfilled, and the company is no longer responding to inquiries by the couple and the news outlets covering their story.
The couple is contemplating hiring a lawyer to compel ETH’s parent company to provide them with the necessary JSON file. They would have to hire a Switzerland-based lawyer, as the case would be heard in the parent company’s country.
Avoid Making the Same Mistake
Many people are sharing Yuri and Art Williams’ plight because of seemingly simple technical mistakes such as this. Some people don’t even remember whether they have cryptocurrency that they bought and forgot.
One of the most notable cases involves a bitcoin fortune worth more than $223 million. Stefan Thomas acquired 7,002 bitcoins back when the cryptocurrency wasn’t worth much. Stefan didn’t see much value in the cryptocurrency, so he didn’t mind securing his private key.
Bitcoin is now one of the most valuable and lucrative financial assets, and Stefan is essentially sitting on a fortune. However, he cannot access his bitcoin because he doesn’t have the private key, which is encrypted and cannot be replicated.
Stefan used a high-security wallet called IronKey to store his bitcoin. The wallet give users ten attempts to enter a password, after which their accounts’ contents are forever encrypt. Stefan has been trying for eight times, and he now has only two attempts left – and his fortune will disappear into thin air if he doesn’t get the right private key.
This could be you in the future, and it would be a shame if you couldn’t access your fortune. As such, it is important to secure important details about your cryptocurrency wallets, including private keys and other details required to access your money.
The Future of Their $5.8 Million Ethereum Coins
Yuri and Art Williams are not giving up as they try to access their $5.8 million ethereum fortune. Their situation should serve as a precautionary warning for other cryptocurrency investors. The lesson here is to secure your cryptocurrency details – your investment may well be the next bitcoin!
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