LHV Bank founder loses private keys worth $470 million in ETH

Rain Lõhmus, the founder of Estonian LHV Bank, has just been revealed to be the owner of a large vault containing 250,000 Ethereum that was purchased during the ICO Ethereum Currently valued at $470 million.

However, there’s just one problem. He no longer has the access key to the repository.

February, Director Coin LibraryConor Grogan points out Ethereum wallets Contains approximately US$470 millionno one has touched it since Blockchain Initialized.

In a Twitter post on November 6, Conor shared Lõhmus’ latest comments from a previous interview with Vikerraadio, confirming that he is the owner of stranded ether worth $470 million.

Grogan wrote: “Decoding a Mystery,” and shared an excerpt from it Report wrong news October 31, regarding a previous interview with Lõhmus.

A mystery is solved: the address (which now holds $450 million in cryptocurrency) belongs to LHV Bank founder Rain Lohmus

Unfortunately, he lost the key and lost access to these millions.He’s willing to part with you if you can somehow help him regain them https://t.co/wYLAU9gKzb pic.twitter.com/0A1nIjFSyn

— Connor (@jconorgrogan) November 6, 2023

Sorry, he lost the key and can’t access those hundreds of millions of ETH. If you could help him restore them in some way, he was willing to share the money with you,” Grogan added.

As reported by ERR, Lõhmus stated that he owned a wallet containing 250,000 ETH but forgot the password and made little effort to recover it.

“I cannot solve this problem alone; if anyone believes they can, I will consider every suggestion,” Lõhmus said.

“Losing passwords is a weakness of blockchain systems,” he added.

The total amount Lõhmus purchased was $75,000, when the price of ETH was about 30 cents.

On November 10, 2021, the price of Ethereum peaked at nearly $4,900, and Lõhmus’ wallet was worth $1.22 billion.

To date, Lõhmus’ wallet has still achieved an impressive growth of 628,757%, and according to Grogan’s X post in February, Lõhmus’ wallet has also gained gift-wrapped value. airdrop It’s $6.5 million.

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