In an interview with Estonian radio, banker Lõhmus shared a sad story about losing the keys to a cryptocurrency wallet containing 250,000 ETH.
Wallet Loss Story
In 2022, Lõhmus revealed he lost the keys to a wallet that held 250,000 ETH, purchased during the Ethereum presale in 2014.
Asset Recovery Potential
He noted that he might consider offers from credible parties able to help recover the assets. Furthermore, Coinbase product director Conor Grogan later identified a wallet address believed to belong to Lõhmus.
Issue of Lost Digital Assets
With Ethereum recently hitting $4,700, the value of the lost assets has reached record levels. According to Arkham Intelligence, most funds remain untouched except for a few minor transactions. Lõhmus had previously warned that while decentralization offers freedom, it also carries the irreversible risk of losing access, a lesson he learned earlier after misplacing a small Bitcoin investment.
Lõhmus's situation highlights a common issue in the crypto industry: lost passwords and private keys can permanently lock away significant sums. This serves as a warning for all users working with cryptocurrencies.
