Founder of LHV Bank Owns $470 Million in ETH, But Can't Withdraw Due to Lost 'Private Key'

<p>&nbsp;"Wow, what a pity, I think he has a chance to feel the profit?"</p><p><br /></p><p>Rain Lõhmus, the founder of Estonia-based LHV Bank bought 250,000 Ethereum (ETH) cryptocurrency during the ICO which is now worth $470 million, but unfortunately he does not have the private key.</p><p><br /></p><p>Revealed by the director of Coinbase, Conor Grogan in February 2023, the ETH whales wallet containing the digital asset in hundreds of millions of United States (US) dollars was found untouched for a long time.</p><p><br /></p><p>However, the mystery of who the individual holding the $470 million worth of ETH is is over, commented Grogan who shared excerpts from an October 31 ERR News report on Vikerraadion's interview with Lõhmus.</p><p><br /></p><p><br /></p><p>According to Grogan, Lõhmus could not access $470 million following the loss of his private key, therefore Lõhmus said that he would be willing to share the funds if anyone could help him solve the following problems.</p><p><br /></p><p>The founder of LHV Bank who thinks it is normal to lose passwords is reported to have bought such a large amount of ETH when the price was at $0.30 where he only had to spend $75,000.</p><p><br /></p><p>On November 10, 2021, the price of ETH which peaked at $4,900 has resulted in Lõhmus' investment worth $1.22 billion, however his wallet still has a very impressive 628,757% profit.</p><p><br /></p><p>The price of ETH which is currently trading at $1,889 has recorded a gain of 0.46% in the last 24 hours with a market cap of $227 billion and has climbed 4.99% over the last week.</p>