Ethereum Wallet with $470 Million Linked to LHV Bank Founder Rain Lõhmus
A dormant Ethereum wallet containing 250,000 ETH, valued at over $470 million, has been identified as belonging to Rain Lõhmus, the founder of Estonia-based LHV Bank. Despite this substantial sum, Lõhmus has lost access to this wallet after misplacing his private keys and is now reaching out to the crypto community for assistance.
Conor Grogan’s Revelation
In February, Conor Grogan, a director at Coinbase, brought attention to the untouched Ethereum wallet that dated back to 2014. On November 6, Grogan officially linked the wallet address to Rain Lõhmus based on an article by ERR News. In the same post, Grogan also shared Lõhmus’s willingness to share the funds with anyone who could help him regain access.
Details of the Dormant Wallet
The Ethereum wallet has remained dormant since its creation and has never been involved in any transactions. Lõhmus invested $75,000 during Ethereum’s ICO and has seen a significant increase in value. At its peak on November 10, 2021, his stash was valued at $1.22 billion. Today, his wallet still boasts a gain of 628,757% and ranks among the top 25 accounts in terms of ETH balance on Etherscan.
LHV Bank and Rain Lõhmus
LHV Bank is a subsidiary of AS LHV Group and is currently the third-largest financial institution in Estonia. This revelation further highlights Rain Lõhmus’s significant presence in the financial world.
Hot Take: The Potential Recovery of Lost Crypto Fortune
Rain Lõhmus’s situation presents an opportunity for anyone who can help recover his lost private keys to share in a substantial crypto fortune worth over $470 million. This revelation sheds light on the importance of securely managing private keys in the cryptocurrency space.
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