'Mysterious' Ethereum Wallet Now Worth $400M+

Conor Grogan, Product Strategy Director at Coinbase, recently took to Twitter to reveal “one of the most mysterious addresses in all of crypto.” Using on-chain data, the executive highlighted that the address bought Ethereum tokens during the ICO in 2014. The wallet remains untouched, per the executive.

Furthermore, Conor pointed out that the wallet is now worth more than $400 million, marking a 5333-fold growth. He additionally revealed that the address received millions of tokens via airdrops.

Also Read: Kevin O’Leary: Crypto Exchanges Will Continue Going To ‘ZERO’

Deep diving into the Ethereum wallet

Data from Etherscan confirmed that the first transaction involving 250k Ethereum tokens took place 2768 days ago, i.e., around 7.5 years ago. All transactions in the wallet thus far have been inflows. Nothing has ever been sent out.

Source: Etherscan

A total of 45 transactions have taken place since the wallet was created. Notably, the latest transfers involving 0.0001 ETH and 0.001 ETH happened around four hours ago at press time.

Source: Etherscan

Data from Etherscan further brought to light that there were around 202 assets held by the wallet. At press time, they were cumulatively worth $409 million.

Source: Etherscan

Also Read: 2023’s ‘Largest Exit Scam’ on Arbitrum Unfolds, $2M Stolen

Leaving aside ETH, the wallet was also in possession of other cryptos like HEX and OMG Network’s native token OMG, among others.

Source: Etherscan

Chalking out the possible reason for the wallet’s inactivity, the Coinbase executive opined,

“Imagine the mental fortitude of holding through multiple bull and bear markets. Though the far more likely outcome is they lost their keys.”

Opining on similar lines, another user tweeted,

“Hopefully they are alive and just diamond handing.”

However, a few from the space did not shy away from outrightly speculating that the owner of the wallet could perhaps be dead.

Well, apart from this wallet, several other prominent people from the space chipped in and bought Ethereum during its early days. As reported recently, Reddit’s co-founder, Alexis Ohanian, was one of them. He purchased 50,000 Ethereum tokens in 2014, during its pre-sale. The average buy price was around 30 cents per token. Ohanian forked out $15,000 in total to acquire the tokens.

Also Read: Reddit Co-Founder Purchased 50,000 Ethereum in 2014

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  • ethereum

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