Coinbase Chief Product Officer Conor tweeted this morning that the whale address that participated in the Ethereum ICO 14 years ago but has yet to sell the 250,000 Ether coins it received is speculated to be owned by Rain Lohmus, the founder of Estonian bank LHV. However, He lost his private key and is actively seeking professional help, saying he is willing to share the tokens in his wallet.
Participated in the Ethereum ICO but lost the private key
Conor speculates that the address (0x2B6e…), which has never carried out any transactions and is currently worth about $450 million, belongs to Rain Lohmus, the founder of LHV Bank.
One mystery solved: This address (which now holds $450M of crypto) belongs to Rain Lohmus, founder of LHV Bank
Unfortunately 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 https://t.co/wYLAU9gKzb pic.twitter.com/0A1nIjFSyn
— Conor (@jconorgrogan) November 6, 2023
However, Conor also said that Lohmus may no longer be able to use the 250,000 ether coins in it:
Unfortunately, he has lost his keys and is unable to access these hundreds of millions of dollars, and if you can help him recover them in any way, he will be more than happy to share the funds with you.
Currently, address search tools such as Etherscan have clearly marked this address.
Rain Lohmus: Restore wallet to share bonuses
The same description comes from Rain Lohmus’s interview with Estonian public broadcaster ERR on the 31st. Lohmus allegedly stated that he purchased some cryptocurrencies in the early days of Bitcoin, and at that time the investment amount was almost equal to its The total value of the LHV stock portfolio.
However, he also admitted that he had lost control of the wallet’s private keys:
It's no secret that I have a wallet with about 250,000 Ethereum and I can't recover the private key. If anyone thinks he can assist me in recovering that wallet, I will accept all their offers.
At the same time, he also expressed doubts about this phenomenon, believing that under perfect decentralization of cryptocurrency, there are still many unnoticed risks:
Losing my password is very common for me. In my daily life, government agencies or police agencies can help me reset or find my password, but this is not the case in the world of cryptocurrency. This is a convenience that the latter does not have. It is more likely to cause a serious crisis.
It’s worth noting that Lohmus doesn’t seem to show any angst or regret over the $75,000 he invested in his wallet, or even its current $450 million value. He told all this in a calm tone throughout the interview.
More than $1.73 billion in ether has been lost
Conor once again updated its statistics on this news and stated that the total number of Ethereum coins lost forever has reached at least 909,800, with a total value of more than 1.73 billion US dollars, which accounts for more than 0.75% of all current circulating supply.
This article The founder of LHV Bank lost the private key of the US$450 million Ethereum ICO address: Looking for good Samaritans to recover the wallet first appeared on Chain News ABMedia.