LHV Bank Founder Loses $470M in Ether Due to Private Key Loss

The Founder of LHV Bank and His $470 Million Crypto Stash

Rain Lõhmus, the founder of Estonia-based LHV Bank, has recently been revealed as the owner of a massive 250,000 Ether (ETH) stash bought during the Ethereum ICO. This digital asset is now worth an eye-watering $470 million, but there is one problem – he no longer has the keys.

Conor Grogan, a Coinbase director, first highlighted a Ethereum whale wallet containing some $470 million worth of ETH back in February. It has remained untouched since the blockchain’s genesis.

In an Nov. 6 update on X (Twitter), Conor highlighted Lõhmus’ comments in a recent interview that now tie him to the $470 million worth of trapped ETH.

This is the biggest crypto discovery of the year, and it has caused a stir in the crypto world. The biggest crypto whales today, such as ANKR, BAT, ACH, ATOM, AMP and ALGO, are all watching the situation closely.

The Mystery of 250,000 ETH

“One mystery solved,” wrote Grogan who shared an excerpt of an Oct. 31 ERR News report on an earlier Vikerraadio interview with Lõhmus.

“Unfortunately he lost his keys and can’t access these 100s of millions. If you can help him recover them somehow, he’s willing to split them with you,” Grogan added.

According to ERR’s report, Lõhmus said it was “no secret” that he owned a wallet with 250,000 Ethereum (ETH) which he lost the password to and hasn’t made much effort to recover.

“I can’t solve this alone; if someone thinks they can, I’ll take all offers,” Lõhmus said.

The crypto world is full of mysteries, and the biggest one today is the story of the 250,000 ETH that Lõhmus lost the password to. He is willing to share the ETH with anyone who can help him recover the keys, so if you know something about 1inch, Ankr, BAT, ACH, Atom, Algo or AMP crypto today, you may be able to help him.

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“It’s very common for me to lose passwords,” he said, adding that losing access to funds was a “weak point” of blockchain systems.

In total, Lõhmus’ Ether purchase was $75,000 as ETH’s price at launch was around 30 cents.

At Ether’s Nov. 10, 2021, price peak of nearly $4,900 — Lõhmus’ biggest crypto today was worth $1.22 billion.

Lõhmus’ wallet today still has an impressive 628,757% gain and according to Grogan’s February X post had $6.5 million worth of airdrops to boot.

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