Unmasking Owner of Ethereum Wallet with 250,000 Lost ETH

Investigations have uncovered the mysterious owner of a crypto wallet that lost the keys to a $450 million fortune in Ethereum (ETH).

According to Coinbase director Conor Grogan, the owner of this wallet is Rain Lohmus, co-founder of LHV Bank. The wallet contained as much as 250,000 ETH, most acquired during the coin’s Initial Coin Offering (ICO) in 2014.

One mystery solved: This address (which now holds $450M of crypto) belongs to Rain Lohmus, founder of LHV Bank

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 https://t.co/wYLAU9gKzb pic.twitter.com/0A1nIjFSyn

— Conor (@jconorgrogan) November 6, 2023

Rain Lohmus and Recovery Strategy

Losing the keys to wallet addresses is not uncommon in the crypto ecosystem. Infact, according to a computation made by Conor, a minimum of 909,800 ETH with a valuation of over $1.73 billion remains lost on-chain. This accounts for 0.73% of all circulating Ethereum supply.

One distinguishing trait of Rain Lohmus is that he has chosen not to give up on the push to recover the asset. He has a strategy to power the recovery, but according to what appears as an interview excerpt shared by Conor, he wants as much help as he can get, from anyone.

While he said he’s open to any offers from the public on how to recover the funds, he revealed his best plan is to build “Rain Lohmus” as an AI to see if his memories can come back to remember the lost keys.

Daunting as this task is, the LHV Bank founder said he takes it easy on himself. Lohmus acknowledged the possibility of spending a decade trying to hack this challenge and achieving zero results. Based on this, he said he’d rather embrace solutions where he can get visible progress daily.

For anyone who can help him recover the funds, Lohmus plans to split the funds as compensation.

Only Untouched ICO Wallet for Now

Recently, we have seen some Ethereum ICO wallets coming alive, but Conor noted that in his research, the Rain Lohmus wallet remains the only address from this era that has stayed dormant.

Based on previous discoveries, the wallet acquired $75,000 worth of ETH at the 2014 ICO and has never made a single transaction. The wallet, over the years, received an intriguing bonus worth $6.5 million just for HODLing, the earlier acquired ETH.