A resident of Istanbul Kerem Albayrak shared on the website Reddit with grief: he has lost access to $170 000 in bitcoin because it failed to properly configure the option mnemonic phrase and password for your cryptocurrency wallet.

It all started with the fact that the businessman bought for a new office iMac and created a new blockchain wallet to move funds from an offline wallet, in which did start to fail. After the new wallet was installed, Albayrak took a vacation, and when again started to work, I heard from colleagues complaints that the new iMac takes up too much space. Albayrak took the computer back to the seller. To the question, can I change the iMac to the MacBook (which is recommended to his colleagues), the seller said that the store does not practice exchange, and the buyer should just return the computer, and then free to buy a new one.

In addition, it appeared that Albaraka left 4 hours to return the device, since a fifteen-day return period has expired. Albayrak rushed home, took the computer and quickly went back to the store, failing to check how to operate options password and a mnemonic phrase from wallet.

He says:

“Disappointed in the offline wallet, I moved the funds to the blockchain wallet created on the iMac. I used the auto generation of password through Apple, and he was not using iCloud to backup. Did the iMac display with a mnemonic phrase, but it too got lost.”

Returning the iMac and when I returned home, the businessman realized that he gave the computer without saving a screenshot of the generated password in email or on the phone. Then he turned to Apple with a request for help.

Further, Albayrak came to the shop, where he handed over the iMac, two hours before the opening, hoping to intercept the truck, which is usually taken from the shop, intended to return to China (where they originated). However, the truck he did not wait and asked the seller with a question about where “his” computer.

The seller said that the computer is still in the store, but in the standard procedure, return the iMac hard drive has been formatted. Thus, the recovery phrase and the password was lost.

Addressing the readers of the site with a reminder about how important it is to backup wallet, Albayrak said:

“This is no joke. While the thunder will not clap, the peasant will not cross. Do not repeat my mistake. Please back up your data. Believe me, I don’t envy. It’s not even that I lost 170 thousand dollars, and that the purse – here it is, and what’s the point.. When I see the rate is increasing, then bite your elbows”.

By the way, Albayrak (pictured) promised 40% from $170 000 to anyone who can help to return the funds or at least give good advice.