Economy
The Biggest Amounts of Cash Lost with Bitcoin
Since cryptocurrencies are decentralized, protecting them is the responsibility of their owners. No government agency or private company can help you recover the password to your digital wallet.
The New York Times reports that 20% of all Bitcoins are missing from cold storage. This is helping to drive up the price of the remaining Bitcoins. These dollars disappear as rapidly as people delete old emails and photos.
So, let’s take a look at the 5 biggest Bitcoin-related financial disasters – which will show you why it’s always wise to get the best crypto currency wallet in 2022.
The Curious Case of Bitcoin’s Founder
Satoshi Nakamoto, the enigmatic Bitcoin creator, is reportedly pretty wealthy. Is there a rationale behind Satoshi’s decision to quit using Bitcoin after it gained popularity?
Satoshi reportedly has 1.1 million Bitcoins as of 2022, yet this amount may be higher. Satoshi’s budgetary priorities are a mystery. This would cause significant volatility in Bitcoin.
The mysterious man who created Bitcoin is a selfless idealist who has never handled any of the currency but is nonetheless vital to its history, values, and legacy. Nobody may ever know what became of Satoshi’s private keys.
If Satoshi were to receive his Bitcoins back, he would likely become one of the world’s wealthiest people.
Not Knowing Where Your Key Is
The story about Stefan Thomas has been in the news for years now. The coder forgot the password to his $220 million Bitcoin wallet. Stefan started buying and selling with Bitcoin in 2011 and currently possesses 7,002.
Stefan protected his Bitcoins with the help of an IronKey. He could only make ten attempts to access the flash disk if he forgot the password.
Stefan tried to break into his USB storage eight times before turning to social media and other news outlets. He allowed the would-be decryptors two tries before giving up. Stefan “accepts” that he will never get a return on his investment.
A Wanted Poster With a 25% Reward
Like Stefan Thomas, James Howells lost 7,500 BTC in 2013 after he carelessly disposed of an outdated laptop containing his cryptocurrency. The hard drive was home to the digital wallet.
James offered to give the Welsh municipal officials 25% of the cash in his dormant wallet if they could help him find the laptop. He gave an additional £50 million to help those affected by the COVID-19 pandemic.
Because of his landfill permit, the Newport City Council forbade James to open his wallet. It would have ramifications on the court system and in the environment. The cost of merely hunting for the wallet alone may be considerable, and there’s no assurance that it will operate or be located.
X Marks the Spot
Hackers uncovered the fifth-largest Bitcoin wallet of 2018, containing 69,000 Bitcoins bought from a dark web vendor. Since then, countless others have used the wallet safely as it was handed around. It was widely believed to be bogus.
In September 2020, the CTO of Hudson Rock tweeted about the wallet. In 2020, Alon told Motherboard’s investigators that it was typical for hackers to buy large wallets on hacker forums and then sell them to other hackers concerned that their technology had been compromised. The U.S. Department of Justice has reportedly claimed control of a Bitcoin wallet via Bitcoin.com.
The person identified only as “X” is the wallet’s rightful possessor. The United States administration is aware of its true identity.
The cryptocurrency exchange Silk Road had its coins stolen, and the blockchain analytics company Chainalysis has the evidence. Ross Ulbricht, the founder of Silk Road, claimed to be aware that Individual X had stolen them.
By Aduragbemi Omiyale
The pre-registration training and examination for capital market operators (CMOs) for the second quarter of 2026 has been postponed.
Business Post gathered that the new date for the exercise is now Monday, June 15, 2026.
This information was disclosed by the Securities and Exchange Commission (SEC) through a circular on Monday, June 8, 2026.
The Nigerian capital market regulator stated that this postponement has also resulted in the extension of the deadline for registration to Friday, June 12, 2026.
In the notice today, the SEC expressed its regret for the inconvenience this action may cause operators, who had prepared for the initial date of the training and examination.
“Further to the recent circular on Q2 2026 Pre-registration Training and Examination, the Securities and Exchange Commission (SEC) hereby informs all eligible applicants for the Q2 2026 Pre-registration Training and Examination that the commencement date has been postponed to Monday, June 15, 2026.
“Registration on the designated portal has also been extended to Friday, June 12, 2026. All other conditions contained in the circular remain unchanged.
“The commission regrets any inconvenience this postponement may cause and appreciates the understanding of all applicants,” the disclosure noted.
By Aduragbemi Omiyale
One of the leading healthcare firms in Nigeria, Fidson Healthcare Plc, has listed additional shares on the Nigerian Exchange (NGX) Limited.
The new stocks absorbed into the stock market were 600 million units, raising the total issued and fully paid-up shares of Fidson to 3,000,000,000 ordinary shares of 50 Kobo each from 2,400,000,000 ordinary shares of 50 Kobo each.
The fresh equities came from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share.
They were issued to existing investors on the basis of one new ordinary share for every existing four ordinary shares held as of the close of business on Wednesday, November 12, 2025.
Confirming the development, the regulator in a notice said, “Trading licence holders are hereby notified that an additional 600,000,000 ordinary shares of 50 Kobo each of Fidson Healthcare Plc were on Tuesday, June 2, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 600,000,000 ordinary shares of 50 Kobo each at N35.00 per share on the basis of one new ordinary share for every existing four ordinary shares held as at the close of business on Wednesday, November 12, 2025.
“With the listing of the additional 600,000,000 ordinary shares, the total issued and fully paid-up shares of Fidson Healthcare Plc have now increased from 2,400,000,000 to 3,000,000,000 ordinary shares of 50 Kobo each.”
By Modupe Gbadeyanka
This news will surely excite local contractors with verified claims of N100 million or less, as the federal government has approved their payments.
This approval for the disbursement was given by the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
This followed a verification and reconciliation exercise designed to ensure only validated claims qualify for payment.
The beneficiaries cover contractors across multiple ministries, departments and agencies. The release of the funds is expected to enable contractors to return to project sites, pay workers, settle suppliers and meet outstanding financial commitments.
In an announcement on Monday, the Federal Ministry of Finance also said this latest batch of payments would ease liquidity pressure on small businesses and accelerate economic activity nationwide.
It was noted that the payments for verified claims of N100 million below were strategically done to spread economic impact broadly rather than concentrate disbursements among a handful of large firms.
The payments form part of a broader push to clear inherited contractor obligations, with over N700 billion verified in recent months.
“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth,” the ministry said in a statement.
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