Washington DC Couple Is Unable To Access $5.8M Worth Of Ethereum

A Washington DC Couple is unable to access $5.8 million worth of Ethereum which they purchased back in 2014 so let’s find out more in our latest Ethereum news today.

Yuki and Art Williams, a couple from Washington DC purchased 3000 Ethereum coins back in 2014 and now they are unable to access the wallet as the family claims that the essential JSON file was never downloaded and they do not have access to their coins. According to the reports, the family possesses 3000 ETH coins in their crypto wallet but the wife and husband can only see them and not access the assets. The couple insisted that when they bought the assets back in 2014 but the JSON file was never downloaded as Art Williams said:

“The instructions were to leave your computer on for an hour and a half and as the progression bar showed it populating the JSON file would appear. Unfortunately for us, it did not appear.”

Calculated in today’s prices, that is up to $5.8 million. Mr. Williams explained that the Ethereum Foundation promised him to solve the issue and send him a backup of the file. However, the family is still waiting. In another attempt to gain access to their funds, the couple e-mailed the Foundation based in Switzerland showed them proof of purchase and screenshots of the problem and the reports also tried to reach out to the Foundation but received no comment.

The last move that the family has to make is to hire a new law firm that will open a case in court in Switzerland and the attorneys will demand that the foundation grant a JSON file to the desperate couple during the process:

“Devastating, to say the least. Obviously, that’s life-changing money.”

Investing in crypto is not risky because of the volatile nature of the assets but also investors have to save and protect their private keys. In case someone loses their private keys it could lead to an irreversible disaster like in this case with Stefan Thomas and his BTC worth more than $223 million. The resident of San Francisco produced an educational video dubbed “What is Bitcoin” for other crypto fans and received 7002 BTC for his services. Thomas didn’t pay a lot of attention to his new holdings as they have almost no value at the time and lost the digital keys to the wallet. In the next few years, BTC’s price exploded and now the coins are worth around $223 million.

Source: https://www.dcforecasts.com/ethereum-news/washington-dc-couple-is-unable-to-access-5-8m-worth-of-ethereum/