LHV founder Rain Lõhmus’ gains and loses $474m from Ethereum wallet

<img width="562" height="338" src="https://www.leaprate.com/wp-content/uploads/2021/01/crypto.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2021/01/crypto.jpg 880w, https://www.leaprate.com/wp-content/uploads/2021/01/crypto-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2021/01/crypto-730×438.jpg 730w, https://www.leaprate.com/wp-content/uploads/2021/01/crypto-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2021/01/crypto-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2021/01/crypto-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2021/01/crypto-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2021/01/crypto-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>The account, which was originally filled with ETH, purchased during Ethereum’s Initial Coin Offering in 2014, first registered at $75,000. Now sitting at $474m, Lõhmus’ lost wallet represents an investment that has grown approximately 6,300 times. However, without a key, Lõhmus unfortunately cannot retrieve this astronomical wealth.</p>
<p>In today’s session, Ethereum sits at $1,906.80, ETH/USD. Despite the current standings, Ether’s 17% return falls short compared to Bitcoin’s substantial 27% gain over the last 30 days. Not only does this create uncertainty with regard to Consensys, a private blockchain company and key play in Ethereum’s virtual ecosystem, but it also reiterates the distrust investors and former employees feel toward Ethereum and Consensys.</p>
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<p>According to 27 shareholders of Consensys AG, co-founder Joseph Lubin stripped the Swiss company and its shareholders of major assets, thus violating a no-dilution promise he had previously made in 2015. With the help of JPMorgan, Lubin allegedly transferred core assets to a US entity, stripping its Swiss shareholders of assets and equity. Lubin is a co-founder of the <a href="https://www.leaprate.com/news/ethereum-under-fire-from-sec-over-alleged-violations/" target="_blank" rel="noopener">Ethereum</a> blockchain.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/lhv-founder-rain-lohmus-gains-and-loses-474m-from-ethereum-wallet/">LHV founder Rain Lõhmus’ gains and loses $474m from Ethereum wallet</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>