A cryptocurrency wallet linked to Estonian banker Rain Lõhmus is now worth around $1.2 billion, after Ether (ETH) briefly hit $4,700 this week. The wallet holds 250,000 ETH, bought during Ethereum’s 2014 presale, and has never sent out any funds.
In a 2023 interview, Lõhmus said he lost the private keys to the wallet and would be open to technical help to recover it. Data from Arkham Intelligence shows only tiny incoming transfers—called “dust”—meaning the wallet hasn’t been used.
This situation shows the risks of managing crypto yourself. If you lose your password or device, you could lose access to huge amounts of money. Since Lõhmus first talked about the issue two years ago, the value of the lost ETH has nearly tripled.