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Rain Lõhmus, the founder of LHV Bank, recently disclosed that he had acquired 250,000 Ethereum (ETH) tokens during the project’s Initial Coin Offering (ICO) at a meager price of $0.31 per coin. His investment totaled around $75,000 at the time. As we fast forward to 2023, the value of this Ethereum stash has skyrocketed to an astonishing $470 million, marking a staggering growth of approximately 628,757%.

 

 

Regrettably, Lõhmus encountered a significant setback concerning his Ethereum holdings. He lost access to his private keys, a development that came to light through a tweet by Coinbase director Conor Grogan, who formerly communicated on X (previously known as Twitter). Grogan had previously highlighted the substantial wallet in February 2023, pointing out that it had not executed a single transaction, yet its value had multiplied by 5333 times. Furthermore, the wallet received an impressive $6.5 million in airdrops alone. When Ethereum reached its all-time high of $4,878.26 on November 10, 2021, Lõhmus’s holdings had surged in value to a jaw-dropping $1.22 billion. Nonetheless, it’s important to note that ETH’s price has since declined by nearly 60% from its 2021 peak.

 

 

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