Mystery Behind Ethereum ICO Wallet With $470 Million Has Finally Been Solved

Within the 8-year historical past of Ethereum, there have been a number of mysteries which have made their solution to the mainstream. Nonetheless, some of the fashionable of those is an ETH pockets that participated within the Ethereum ICO again in 2014 which has not seen any form of exercise since then.

Dormant Ethereum ICO Wallet Stumps Traders

In February 2023, X (previously Twitter) consumer @jconorgrogan took to the platform to reveal a curious Ethereum pockets. This pockets, in response to Conor, was the one ETH pockets that had participated within the ICO in 2015 and had not carried out any transactions since then.

The thriller behind the wallet additional grew when group members found that it was carrying a complete of 250,000 ETH. Data present that the pockets had purchased this huge stash of ETH in 2014 for $75,000 and the worth of the funding has since appreciated to over $470 million. But it has not been claimed, nor has the proprietor offered any cash.

Not solely had the pockets seen its preliminary funding develop exponentially, however it had additionally made tens of millions of {dollars} in airdrops alone. Conor revealed that the pockets had acquired upwards of $6.5 million in airdrops, which, by itself, was already an 87x return on the unique funding.

Following this primary publish, there have been a lot of theories for what might need made the investor not transfer any of the cash. These ranged from dropping the non-public keys to the holder in all probability dying or in jail. Nonetheless, Conor has lastly uncovered the true story behind this pockets.

ETH stays firmly above $1,800 | Supply: ETHUSD on

Estonian Banking Magnate Loses Keys To ETH Wallet

9 months after the preliminary tweet was made, Conor supplied an update with a solution to who owns the $470 million ETH pockets and why they’d not made any transactions. Like many speculated, it was truly a case of misplaced keys however the proprietor of the pockets was much more fascinating.

Conor posted a screenshot of an interview with the founding father of Estonian LHV Financial institution, Rain Lohmus, the place he admitted that he had truly misplaced entry to his Ethereum pockets holding 250,000 ETH. Nonetheless, Lohmus doesn’t appear too phased by this on condition that he stated he had not likely tried to get well the pockets.

The LHV Financial institution founder additionally revealed that he’s unable to resolve the difficulty and get again his ETH. So he’s open to sharing provides from anybody who believes that they’ll be capable to entry the pockets. On his personal although, Lohmus’ plan is “to build Rain Lohmus as an AI and see if he can get his memories back.”

However, the millionaire doesn’t appear too disturbed by this. “I don’t like things that result in zero or one. You can spend ten years on it, and it might end up with zero; it might end up with you solving a problem, but I prefer to do things where progress is visible on a daily basis.”

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