Crypto’s Indiana Jones? Coinbase exec helps recover $322K of once-lost crypto

When the Ethereum blockchain forked in 2016, Ethereum Classic (ETC) was developed. Any financier who held the now-standard Ether (ETH) on-chain was airdropped a similar amount of ETC. Many never ever touched these new funds, stated Grogan. “Forgetting you have funds on chain (or not keeping an eye on airdrops) is typical,” Grogan said, sharing how he d recuperated six-figure amounts for financiers in the past. In a subsequent screenshot, Grogan said he as soon as alerted a Twitter user of 23 ETH that had been sitting untouched. Grogan notified a Twitter user that he d discovered 23 ETH for them. Source: TwitterTracking down these wallets is no little task. To begin, Grogan said he trawled through the “ETC rich list,” searching for accounts that had never ever touched their ETC. After finding roughly 20 addresses with more than $250,000 worth of ETC, he combed through each, looking for methods to get in touch. Grogan stated he encountered many “dead ends” with the majority of the wallets prior to lastly stumbling upon an address with the prefix “0x475.” Remarkably, the wallet included a cryptocurrency called eosDAC (EOSDAC), which was airdropped to Ethereum holders in 2018. Leveraging the brand-new info, Grogan said the airdrop quantity and photo date allowed him to get in touch with the holders EOS wallet.” As it ends up, this EOS wallet has quite the history!” Grogan stated. This enabled Grogan to lastly track down the legal name connected with the 0x475 ETH address– after reading legal documents. In an uncommonly heartfelt conclusion, Grogan managed to get in touch with the owner and inform them of their long-lost riches.The wallet owners action to Grogan– uninformed the funds had ever existed. Source: Twitter” Hopefully I made his day,” said Grogan. Magazine: Tornado Cash 2.0– The race to construct safe and legal coin mixers

In a recent Twitter thread, Conor Grogan, the head of product at Coinbase, explained how he revealed hundreds of thousands worth of dormant crypto and even handled to call its uninformed owner. In a subsequent screenshot, Grogan stated he when notified a Twitter user of 23 ETH that had been sitting unblemished. Leveraging the new details, Grogan said the airdrop amount and picture date permitted him to connect with the holders EOS wallet. In an uncommonly heartwarming conclusion, Grogan managed to get in touch with the owner and inform them of their long-lost riches.The wallet owners response to Grogan– uninformed the funds had actually ever existed.

Its not every day that a person suddenly ends up being $322,000 richer– however for one fortunate crypto financier, this is exactly what occurred in the late hours of July 5. In a recent Twitter thread, Conor Grogan, the head of item at Coinbase, explained how he discovered hundreds of thousands worth of inactive crypto and even handled to contact its unaware owner. I discovered $322k for a complete stranger who previously lost their life cost savings in a hack pic.twitter.com/K1gUqEkAPh— Conor (@jconorgrogan) July 5, 2023

Other Questions People Ask

What methods did the Coinbase exec use to recover the lost crypto in the story of Crypto’s Indiana Jones?

The Coinbase exec, Conor Grogan, utilized a meticulous approach by first analyzing the "ETC rich list" to identify wallets that had never interacted with their Ethereum Classic (ETC) holdings. After pinpointing around 20 addresses with significant amounts of dormant ETC, he investigated each wallet for contact information. His persistence paid off when he discovered an address linked to an airdropped cryptocurrency, eosDAC, which ultimately led him to the wallet owner's legal name.

How did the owner of the lost crypto react upon being informed about their funds in the Crypto’s Indiana Jones story?

Upon being contacted by Conor Grogan, the owner of the long-lost crypto was completely unaware that such funds existed. Grogan's outreach revealed that the individual had previously lost their life savings in a hack, making the news of recovering $322,000 particularly impactful. The heartfelt conclusion of this story highlights the emotional weight of rediscovering forgotten wealth in the crypto space.

What challenges did Grogan face while trying to recover the lost crypto in Crypto’s Indiana Jones?

Conor Grogan encountered numerous challenges while attempting to recover the lost crypto, including running into "dead ends" with most of the wallets he investigated. The process required extensive research and patience as he sifted through various addresses to find any viable leads. Ultimately, it was his discovery of an airdropped cryptocurrency that provided the breakthrough needed to connect with the wallet owner.

What can investors learn from the story of Crypto’s Indiana Jones regarding dormant crypto assets?

The story of Conor Grogan serves as a valuable lesson for investors about the importance of monitoring dormant crypto assets and airdrops. Many individuals may forget about funds they have on-chain or fail to keep track of new tokens received through airdrops. Regularly checking wallet balances and staying informed about potential airdrops can help investors avoid losing track of significant amounts of cryptocurrency.

What role did social media play in the recovery of the lost crypto in Crypto’s Indiana Jones?

Social media played a crucial role in the recovery process as Conor Grogan utilized Twitter to share his findings and connect with potential wallet owners. His public outreach not only raised awareness about dormant crypto but also showcased how community engagement can lead to successful recoveries. By leveraging platforms like Twitter, Grogan was able to inform individuals about their forgotten assets and facilitate communication effectively.