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 technique to the mainstream. Nonetheless, probably the most common of those is an ETH wallet that participated within the Ethereum ICO again in 2014 which has not seen any form of exercise since then.

Dormant Ethereum ICO Pockets Stumps Buyers

In February 2023, X (previously Twitter) consumer @jconorgrogan took to the platform to reveal a curious Ethereum pockets. This pockets, in line with 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 neighborhood members found that it was carrying a complete of 250,000 ETH. Information 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.

Probably the most mysterious addresses in all of crypto:
-Purchased $75k price of ETH on the ICO in ’14
-Utterly untouched pockets; has by no means made a single transaction
-Pockets now price $400M+, a 5333x
-Acquired $6.5M in airdrops simply by hodling (a 87x on preliminary funding alone) pic.twitter.com/wBpw9pQcAB

— Conor (@jconorgrogan) February 26, 2023

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

Following this primary submit, there have been plenty of theories for what might need made the investor not transfer any of the cash. These ranged from shedding 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 Tradingview.com

Estonian Banking Magnate Loses Keys To ETH Pockets

9 months after the preliminary tweet was made, Conor supplied an update with a solution to who owns the $470 million ETH wallet and why that they had 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 wallet holding 250,000 ETH. Nonetheless, Lohmus doesn’t appear too phased by this on condition that he stated he had probably not tried to recuperate the pockets.

One thriller solved: This deal with (which now holds $450M of crypto) belongs to Rain Lohmus, founding father of LHV Financial institution

Sadly he misplaced his keys and might’t entry these 100s of thousands and thousands. For those who will help him recuperate them by some means, he’s keen to separate them with you https://t.co/wYLAU9gKzb pic.twitter.com/0A1nIjFSyn

— Conor (@jconorgrogan) November 6, 2023

The LHV Financial institution founder additionally revealed that he’s unable to unravel the problem and get again his ETH. So he’s open to sharing presents from anybody who believes that they are going to be capable of entry the pockets. On his personal although, Lohmus’ plan is “to construct Rain Lohmus as an AI and see if he can get his reminiscences again.”

Nonetheless, the millionaire doesn’t appear too disturbed by this. “I don’t like issues that lead to zero or one. You’ll be able to spend ten years on it, and it’d find yourself with zero; it’d find yourself with you fixing an issue, however I choose to do issues the place progress is seen each day.”