Discovering $322,000 in Dormant Crypto
Imagine suddenly becoming $322,000 richer without even knowing it. That’s exactly what happened to one lucky crypto investor, as explained by Conor Grogan, the head of product at Coinbase, in a recent Twitter thread. Grogan not only uncovered the dormant crypto but also managed to contact its unaware owner.
Key Points:
- When the Ethereum blockchain forked in 2016, Ethereum Classic (ETC) was created.
- Holders of Ether (ETH) on-chain received an identical amount of ETC through an airdrop.
- Many investors forgot about or didn’t keep track of these airdropped funds.
- Grogan has previously recovered six-figure amounts for investors in similar situations.
- Grogan discovered a wallet with the prefix “0x475” that held both ETC and a cryptocurrency called EOSDAC.
Grogan trawled through the “ETC rich list” to find accounts that had never touched their ETC. After identifying roughly 20 addresses with over $250,000 worth of ETC, he searched for ways to contact the owners. Eventually, he found the EOS wallet associated with the “0x475” ETH address. Grogan then used legal documents to track down the owner’s name and successfully reached out to inform them of their long-lost riches.
Overall, this story highlights the importance of keeping track of airdropped funds and staying informed about the potential value of dormant crypto assets.
Hot Take:
It’s incredible to think about how easily one can lose track of significant amounts of money in the rapidly evolving world of cryptocurrencies. Conor Grogan’s efforts in uncovering and returning $322,000 to its rightful owner serve as a powerful reminder for all crypto investors to stay vigilant and keep tabs on their assets.
By
By
By
By
