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LHV Bank founder has $470 million in ETH but lost his private key

Rain Lõhmus, founder of Estonia-based LHV Bank, has been revealed to have a massive stash of 250,000 Ether (ETH) was acquired during the Ethereum ICO, currently valued at $470 million.

There’s just one problem! He doesn’t have the keys anymore.

in february Conor Grogan, Director of Coinbasereported wallet of an Ethereum whale include There is approximately $470 million in ETH that has remained intact since the dawn of the blockchain.

In an update on X (Twitter) on November 6, Conor reported on Lõhmus’ comments in a recent interview tying him to $470 million worth of ETH.

“A Mystery Solved”, Sharing an excerpt from a report prepared by Grogan wrote: ERR News In Vikerraadio’s previous interview with Lõhmus on October 31.

Sharing a tweet about X — Conor (@jconorgrogan) 6 November 2023

A Mystery Solved: This address belongs to LHV Bank founder Rain Lohmus (who currently holds $450 million worth of cryptocurrency).

Unfortunately he lost his keys and can’t access these millions. If you can somehow help him save them, he will be ready to share them with you.

“Unfortunately, he lost the keys and cannot access these millions. If you can help him recover them in any way, he is willing to share them with you.”added Grogan.

According to the ERR report, Lõhmus said: “It’s not a secret” A person with a wallet of 250,000 ETH whose password he lost and didn’t put much effort into recovering it.

“I can’t solve this alone; if anyone thinks they can solve it, I accept all offers.” commented Lõhmus.

Related: US Lawmaker Suggests SEC Chairman’s Salary Drop to $1

“Losing my passwords is very common for me”he said and added this loss of access to funds this is a “weakness” From blockchain systems.

In total, Lõhmus’ Ether purchase was $75,000. Considering the launch price of ETH It was about 30 cents.

At the peak of Ether price at around $4,900 on November 10, 2021, Lõhmus’s stash was worth $1.22 billion.

To date, Lõhmus’ wallet has gained an impressive 628,757%, and according to Grogan’s X post in February, he also received a $6.5 million airdrop.

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