Coinbase Product Head Reunites Owner with $322K Dormant Crypto

Coinbase Product Head Reunites Owner with $322K Dormant Crypto

July 5 witnessed an unexpected windfall for a fortunate cryptocurrency investor who suddenly found themselves $322,000 richer, as revealed in a recent Twitter thread by Conor Grogan, the head of product at Coinbase. Grogan shared how he successfully located and reached out to the unwitting owner of the dormant digital assets.

The inception of Ethereum Classic occurred in 2016 when the Ethereum blockchain underwent a fork. Those who held the now-standard Ether on-chain received an equal amount of ETC through an airdrop. Grogan explained that many individuals neglected to utilize these new funds.

Grogan, who has previously facilitated the recovery of six-figure sums for investors, emphasized the common occurrence of forgetting about on-chain funds or failing to track airdrops. He even shared a screenshot of an instance where he notified a Twitter user about 23 ETH lying dormant.

The process of identifying these wallets is no mean feat. Grogan began by meticulously scouring the "ETC rich list" to pinpoint accounts that had not made any transactions involving their ETC holdings. After locating approximately 20 addresses with over $250,000 worth of ETC, he meticulously examined each one in search of a means of communication.

Despite encountering numerous dead ends with most of the wallets, Grogan eventually stumbled upon an address bearing the prefix "0x475." Interestingly, this wallet contained a cryptocurrency known as eosDAC (EOSDAC), which had been airdropped to Ethereum holders in 2018.

Leveraging this newfound information, Grogan was able to determine the airdrop amount and the snapshot date, which subsequently allowed him to establish contact with the holder's EOS wallet. Grogan enthusiastically remarked on the extensive history associated with this EOS wallet.

Through painstaking examination of legal documents, Grogan eventually succeeded in uncovering the legal name linked to the 0x475 ETH address. In a heartwarming conclusion, he managed to establish communication with the owner and informed them of their long-lost fortune.

Grogan expressed his hope that he had brought joy to the owner's day with this serendipitous reunion.

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This information is for educational purposes only and does not constitute investment advice. No person should rely on it to make any investment. Investing carries risks, including the loss of capital. All opinions expressed are subject to change without notice. Past performance is not indicative of future results. Always seek the advice of a licensed investment professional before making any investment.