The founder of Estonia-based LHV Bank, Rain L\u00f5hmus, has been revealed as the owner of a massive 250,000 Ether (ETH) stash bought during the Ethereum ICO, which is now worth an eye-watering $470 million.\u00a0<\/p>\n
There’s only one problem. He no longer has the keys.\u00a0<\/p>\n
In February, Coinbase director Conor Grogan highlighted a Ethereum whale wallet containing some $470 million worth of ETH, untouched since the blockchain\u2019s genesis. <\/p>\n
In an Nov. 6 update on X (Twitter), Conor highlighted L\u00f5hmus\u2019 comments in a recent interview that now tie him to the $470 million worth of trapped ETH.<\/p>\n
\u201cOne mystery solved,\u201d wrote Grogan who shared an excerpt of an Oct. 31 ERR News report on an earlier Vikerraadio <\/strong>interview with L\u00f5hmus.<\/p>\n
\u201cUnfortunately he lost his keys and can’t access these 100s of millions. If you can help him recover them somehow, he’s willing to split them with you,\u201d Grogan added.<\/p>\n
According to ERR\u2019s report, L\u00f5hmus said it was \u201cno secret\u201d he owned a wallet with 250,000 ETH which he lost the password to and hasn\u2019t made much effort to recover.<\/p>\n
\u201cI can’t solve this alone; if someone thinks they can, I’ll take all offers,\u201d L\u00f5hmus said.<\/p>\n
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\u201cIt’s very common for me to lose passwords,\u201d he said, adding that losing access to funds was a \u201cweak point\u201d of blockchain systems.<\/p>\n
In total, L\u00f5hmus\u2019 Ether purchase was $75,000 as ETH\u2019s price at launch was around 30 cents.<\/p>\n
At Ether\u2019s Nov. 10, 2021, price peak of nearly $4,900 \u2014 L\u00f5hmus stuck stash was worth $1.22 billion.<\/p>\n
L\u00f5hmus\u2019 wallet today still has an impressive 628,757% gain and according to Grogan\u2019s February X post had $6.5 million worth of airdrops to boot.<\/p>\n
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Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"