Spouses From The U.S. Can’t Access Their Wallet With $7m Ethereum
Yuki and Art Williams can't spend their 3,000 ETH purchased in 2014 during a pre-sale. At the exchange rate as of 5 p.m. on July 28, 2021, that amounts to more than $6.88 million.
They used Coinbase and 1.5 BTC for the transaction. A password was generated in the process, but the JSON file required for transactions was never uploaded online.
The couple tried to follow the instructions - leave the PC running for 1.5 hours, wait for the JSON file to appear on the progress bar, but it never did.
Now all the Williams have to do is look sadly at the balance, which beckons them with incredible potential riches.
Art Williams said that the Ethereum Foundation's pre-sale website claimed they could send users a backup wallet that would contain a backup JSON file, but they never received that email either.
The couple ended up having to hire a lawyer in Switzerland to try to get a copy of the file. Back in 2018, they tried to restore the JSON file there, but they have not been able to do so to this day.
The last statement of Ethereum Foundation lawyers was the following:
"We believe that Ethereum is not responsible for lost wallets, passwords, and private keys."
It is fair to say that ETH is a decentralized system and employees/tech support often do not really have the physical ability to restore any elements of the system.