„We were naive about death and lost 250 bitcoins,“ says administrator of the largest bitcoin forum

In 2014 the treasurer of the Bitcointalk forum died and 250 Bitcoins were lost.

At the time, the coins were valued at $ 100,000. 5 years passed and the amount that is now worth $ 24 million began to move. The community then decided to go after it and that’s what they found.

A great mystery existed about the 250 bitcoins lost in 2014 by Bitcoin Code, the largest bitcoin forum in the world. An investigation initiated in 2016 was trying to find out what had happened to the lost amount. A forum treasurer passed away and access to the bitcoins was lost, but to the surprise of many, the coins that were then worth 10x more were moved.

The forum was created by Satoshi Nakamoto in 2009, it was where he had the greatest communication with his followers and where the first bitcoin transaction in history (famous purchase of 2 pizzas) was carried out, it was also there that the term „Hodl“ appeared.

Before disappearing, Satoshi Nakamoto, the creator of bitcoin chose the user identified as Theymos to administer the forum, the anonymous young man received help from a treasury to administer the funds received to pay the forum costs. These funds were used for the structural part and even for the dissemination of the contents and were composed of bitcoins between different portfolios controlled by members of the forum itself.

Paraipan was one of the members who took care of a percentage of the forum funds. But a number of developments ended up making this story a great mystery to the entire cryptomarket.

First we heard that Paraipan had died, but the coins under his control began to be moved months after the supposed death, causing the community to start a „hunt“ for clues that could indicate what was happening.

Many said that everything was just a big coup and a robbery within the largest bitcoin community in the world, for others the story had many more layers.

The supposed death of the BitcoinTalk treasurer and the beginning of a great mystery

As you can imagine, BitcoinTalk is an extremely libertarian community and all problems are solved among its own members, hardly involving other entities or any kind of centralization or legal actions. That’s why stories like this one of Paraipan coins are so interesting, because they show how self-sufficient the community is.

Paraipan, who is a Romanian and his real name is Bogdan-Alexandru Semenciuc, was one of Theymos‘ trusted treasurers and was responsible for managing 250 bitcoins of the community. Paraipan disappeared and remained inactive in the forum from 2014, when people close to him declared that he had passed away, with him 250 bitcoins had been considered lost.

So far „so good,“ but by 2016 the coins he controlled began to be moved between different portfolios.

Theymos himself noticed the strange movement for the first time, publishing in the forum about the money leaving the wallet that Paraipan controlled to other addresses and eventually to brokers.

„Paraipan was controlling 250 BTC for the forum when he unfortunately died. Now, it seems that someone has found his wallet, since these coins are moving. If someone is able to track these coins and retrieve any of them for the forum, you can keep 25% of what was recovered“.

Through any block explorer it is possible to see that there were 250 bitcoins (approximately $ 100 thousand at the time).

But the bitcoins were removed from the portfolio in transactions in 2016, 2 years after the supposed death of Paraipan.