A fortunate crypto investor unexpectedly became $322,000 richer on July 5 thanks to Conor Grogan, the head of product at Coinbase. Grogan revealed in a Twitter thread how he uncovered dormant crypto holdings and successfully contacted the unaware owner. The funds in question were Ethereum Classic (ETC) coins that were airdropped to Ethereum (ETH) holders during a blockchain fork in 2016.
Grogan explained that many investors never touched the airdropped ETC coins or simply forgot about them. He has previously helped investors recover six-figure amounts in similar cases. He shared a screenshot where he notified a Twitter user of 23 ETH that had been left untouched. Recovering these funds requires extensive research and tracking.
To locate the dormant wallets, Grogan searched through the “ETC rich list” for accounts that had never used their ETC. After identifying around 20 addresses with over $250,000 worth of ETC, he meticulously examined each wallet to find a way to contact the owners. Although he encountered dead ends with most of the wallets, he eventually found an address with the prefix “0x475” that caught his attention.
The wallet with the “0x475” prefix contained a cryptocurrency called eosDAC (EOSDAC), which was airdropped to Ethereum holders in 2018. Armed with this information, Grogan used the airdrop amount and snapshot date to trace the owner’s EOS wallet. After thoroughly examining legal documents associated with the 0x475 ETH address, he managed to uncover the legal name of the owner.
In a heartwarming conclusion, Grogan successfully contacted the owner and informed them about the forgotten riches. The details of how the owner lost track of the funds were not disclosed, but the discovery serves as a reminder for crypto investors to keep track of their assets and airdrops they may have received.
Conor Grogan, the head of product at Coinbase, showcased his efforts in uncovering dormant crypto assets worth $322,000 for an unknowing owner. Through extensive research and examination of wallets, Grogan was able to locate the funds and connect with the legal owner. This story underscores the importance of managing and keeping track of cryptocurrency holdings, as it is possible for significant wealth to go unnoticed or forgotten.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up