For Michael, a European resident, the past few years have been incredibly frustrating:
He held bitcoin worth over $3 million but couldn't access them because he'd forgotten his digital wallet password.
The Bitcoin Purchase
In 2013, Michael bought 43 bitcoins for just $5,300. He stored them in a digital wallet secured by a 20-character password generated through RoboForm password manager.
Key mistake: Instead of saving the password in RoboForm, he stored it elsewhere—only to lose it later.
Failed Recovery Attempts
- Consulted multiple password recovery experts
- One software specialist told him:
"Your bitcoins are gone forever." - Nearly gave up after 2 years of dead ends
The Breakthrough
Joe Grand, a hacker-turned-engineer known for decryption feats:
- Analyzed RoboForm's 2013 version with a German colleague
- Discovered its "random" number generation had exploitable patterns (fixed by 2015)
- Narrowed password creation to May 15, 2013, 4:10:40 PM using wallet logs
Password Cracked!
By November, Grand called Michael:
"No special characters—just letters and numbers. Your 11-year-old password is recovered!"
Bitcoin Windfall
| Action | Details |
|--------|---------|
| Sold 13 BTC | At $40,000 each |
| Holds 30 BTC | Current value: ~$2 million |
| Future plans | May sell if BTC hits $100K (~$3M profit) |
Michael reflects: Forgetting the password was a blessing—it prevented early sales during lower valuations.
FAQ Section
Q: How did RoboForm's vulnerability help recover the password?
A: Its 2013 version used predictable "random" number sequences tied to creation dates, allowing targeted brute-force attacks.
Q: Why didn't Michael store the password in RoboForm?
A: Paranoia about hackers accessing his computer—ironically, he lost the externally stored password instead.
Q: What's the current value of Michael's remaining bitcoins?
👉 Check live BTC prices here
As of 2025, 30 BTC ≈ $1.8M–$2.1M depending on market fluctuations.
Q: Could this happen to other crypto holders?
A: Yes! Experts recommend:
- Using reputable password managers
- Storing backups securely offline
- Documenting password creation dates
Lessons learned:
- Secure but accessible password storage is critical
- 👉 Explore crypto security tools
- Market timing matters—Michael's patience paid off
Fun fact: Those 2013 bitcoins bought for $124 each are now worth 500x more!