Bitcoin, the world’s first and most popular cryptocurrency, has been the subject of many crazy stories over the years. Here are five of the most notable:
The 10,000-BTC pizza
In 2010, a man named Laszlo Hanyecz made the first commercial Bitcoin transaction when he paid 10,000 BTC for two Papa John’s pizzas. At the time, Bitcoin was worth very little, so Hanyecz’s purchase was essentially a publicity stunt. However, in hindsight, it turned out to be one of the most expensive pizzas ever bought, as Bitcoin is now worth billions of dollars.
The lost bitcoin landfill
In 2013, James Howell, a Welsh IT worker, accidentally threw away a hard drive containing 7,500 BTC. At the time, the coins were worth around $7.5 million, but Howell’s mistake has since cost him billions of dollars. He has tried to retrieve the hard drive from the landfill, but so far his efforts have been unsuccessful.
The Bitcoin whale who died with his password
In 2013, Canadian cryptocurrency exchange QuadrigaCX founder Gerald Cotten died in a plane crash. Cotten was the only person who knew the password to the exchange’s cold wallet, which contained over 115,000 BTC worth over $250 million at the time. As a result, the coins were lost forever.
The Bitcoin heist that led to a murder
In 2017, cryptocurrency exchange Bitfinex was hacked and 119,756 BTC were stolen. The coins were worth over $72 million at the time, making it one of the largest cryptocurrency hacks in history. In 2022, the FBI arrested Ilya Lichtenstein and Heather Morgan, a couple who allegedly laundered the stolen Bitcoin. Morgan is also a rapper who goes by the name Razzlekhan.
The Bitcoin-fueled drug trafficking ring
In 2021, the US Department of Justice announced that it had seized $1 billion in cryptocurrency from the Silk Road, an online marketplace for drugs and other illegal goods. The Silk Road was founded in 2011 and operated until 2013, when its founder, Ross Ulbricht, was arrested. Ulbricht was later sentenced to life in prison.
These are just a few of the many crazy stories about Bitcoin. As the cryptocurrency industry continues to grow and evolve, we can expect to hear many more strange and outlandish tales in the years to come.