Conor Grogan Discovers Over $320,000 Worth of Crypto for Unaware Owner
Conor Grogan, a product director at Coinbase, recently uncovered more than $320,000 worth of cryptocurrency for someone who was unaware of its existence. The discovery was made in relation to the Ethereum blockchain fork that occurred in 2016, resulting in Ethereum Classic (ETC) and the main Ethereum blockchain with ETH.
Key Points:
- Onchain funds at the time of the fork would have been credited with an equal amount of ETH for their ETC, but many people were not aware of this.
- Grogan searched for accounts that had not accessed their ETC balances and found 20 addresses with over $250,000 worth of tokens.
- Identifying the owners of these wallets proved challenging due to limited tagging options and lack of activity that could reveal their identities.
- Grogan discovered a connection through an address containing “0x475” and the presence of the cryptocurrency “EOSDAC,” which led to further digging and the owner’s legal name.
- The owner of the wallet had been a victim of a 2019 hack and was engaged in a legal battle with their cybersecurity provider and Bitfinex.
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
Hot Take: Grogan’s discovery highlights the importance of keeping track of onchain funds and being aware of potential airdrops. It also emphasizes the need for improved methods of identifying wallet owners in the crypto space.
