Conor Grogan, Director at Coinbase, has taken to Twitter to share information on a mysterious Ethereum wallet that has remained untouched since purchasing Ethereum during the initial coin offering (ICO) in 2014.
According to Conor’s tweet, this wallet is one of the most enigmatic addresses in all of crypto. The wallet in question bought $75,000 worth of Ethereum during the ICO in 2014 and has not made a single transaction since.
One of the most mysterious addresses in all of crypto:— Conor (@jconorgrogan) February 26, 2023
-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
Remarkably, the ETH held in this wallet has grown over 5,333 times in value, making it worth over $400 million today. Additionally, the wallet has received over $6.5 million in airdrops, making it an 87x return on the initial investment alone.
Ethereum Wallet Sparks Crypto Community Speculation
Conor’s tweet has sparked interest in the crypto community, with many speculating about the owner of the wallet and the reasons why it has remained untouched for so long.
Some community members have suggested that the owner may have lost their private keys, while others believe that the owner has simply held on to their ETH through multiple bull and bear markets.
After reviewing Etherscan, one community member commented that they observed a transaction in the wallet 39 days ago, suggesting that the owner is still alive. However, the exact identity of the wallet owner remains unknown.
After reviewing Etherscan, I observed that he made a transaction 39 days ago. Therefore, I presume that he is still alive. However, please let me know if my assumption is incorrect.— 10xDegen.bnb | Shibarium Soon (@Grubhub6) February 26, 2023
Furthermore, some community members have suggested that the airdrops received by the wallet may have been in Ethereum Classic, which is a different cryptocurrency that split from Ethereum in 2016.
Conor confirmed this in reply to one of the comments, stating that he meant Ethereum Classic but had to use “airdrop” due to the character limit.
Despite the exciting news about the growth of this wallet, it remains a mystery as to why the owner has not touched it in nearly a decade.
While it is possible that they have simply held on to their ETH for all these years, it is also possible that they have lost their private keys or faced other obstacles that prevented them from accessing their funds.