Can LHV Bank’s Founder Regain Access to His $470 Million ETH Fortune?

In a recent revelation, a dormant Ethereum wallet holding $470 million worth of ETH has been linked to Rain Lõhmus, the founder of Estonia-based LHV Bank.

However, Lõhmus has lost the private keys to this wallet, and he’s now seeking the help of the crypto community to regain access.

LHV Bank Founder Rain Lõhmus Identified As Wallet Owner

The story began in February when Coinbase director Conor Grogan first drew attention to an Ethereum wallet that had remained untouched since the blockchain’s inception in 2014. This wallet contained 250,000 ETH, a sum that, at the time of writing, exceeds $470 million in value.

Fast forward to November 6, and Coinbase director Conor Grogan provided an update, officially linking the wallet address, 0x2B6…0Ffb9, to Rain Lõhmus. This connection was established based on an article by ERR News in which Lõhmus openly admitted that he had lost the password to the wallet.

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

Grogan, through a post on X, shared this revelation with the crypto community, stating, “One mystery solved.” This address, which now holds $450M of crypto, belongs to Rain Lõhmus, founder of LHV Bank. Unfortunately, he misplaced his private keys and could not access the substantial sum.

According to the ERR News report, Lõhmus acknowledged owning a wallet containing 250,000 ETH, but he hadn’t put much effort into recovering it. In the interview, Lõhmus expressed his willingness to entertain offers from individuals who could help him regain access to his lost crypto fortune.

The Dormant Ethereum Wallet

As Grogan highlighted in a previous post on February 26, 2023, the 0x2B6…0Ffb9 address had held Lõhmus’ investments since the early days of Ethereum without a single transaction. During Ethereum’s ICO days, Lõhmus invested around $75,000, growing more than 5,000 times in value. Additionally, he received nearly $6.5 million worth of altcoins through airdrops.

One of the most mysterious addresses in all of crypto:
-Bought $75k worth of ETH at the ICO in ’14
-Completely untouched wallet; has never made a single transaction
-Wallet now worth $400M+, a 5333x
-Received $6.5M in airdrops just by hodling (a 87x on initial investment alone) pic.twitter.com/wBpw9pQcAB

— Conor (@jconorgrogan) February 26, 2023

At the peak of Ether’s value on November 10, 2021, which reached nearly $4,900, Lõhmus’s stash was valued at $1.22 billion. Even today, Lõhmus’s wallet boasts a gain of 628,757%. According to Etherscan data, his wallet stands among the top 25 accounts in terms of ETH balance.

Founded in 1999, LHV Bank is a subsidiary of AS LHV Group, a publicly listed company on the Nasdaq Tallinn Stock Exchange. The bank is currently the third-largest financial institution in Estonia, further highlighting Lõhmus’s significant presence in the financial world.