Crypto Indiana Jones? Coinbase exec helps recover $322,000 of once-lost crypto

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It’s not every day that you find out they suddenly got $322,000 richer, but for one lucky crypto investor, that’s exactly what happened in the final hours of July 5th. .

In a recent Twitter thread, Conor Grogan, the product manager at Coinbase, explained how he discovered hundreds of thousands of dormant crypto and even managed to contact its unwitting owner.

When the Ethereum blockchain forked in 2016, Ethereum Classic (ETC) was created. Any investor who held the now-standard Ether (ETH) chain was dropped an identical amount of ETC. Many never touched those new funds, Grogan said.

Forgetting you have funds on-chain (or not keeping track of airdrops) is common, Grogan said, sharing how he’s raked in six-figure amounts for investors in the past. In a later screenshot, Grogan said he once informed a Twitter user of 23 ETH that remained untouched.

Grogan informed a Twitter user that he discovered 23 ETH for them. Source: Twitter

Tracking down these wallets is no small task. To start, Grogan said he scoured the ETC rich list looking for accounts that had never touched their ETC. After tracking down about 20 addresses containing over $250,000 worth of ETC, he combed them through, looking for ways to get in touch.

Grogan said he ran into a number of dead ends with most wallets, but eventually came across an address with the “0x475” prefix. Interestingly, the wallet contained a cryptocurrency called EOSDAC, which was airdropped to Ethereum holders in 2018.

Leveraging the new information, Grogan said the airdrop amount and snapshot date allow it to connect to holders’ EOS wallets.

“Turns out this EOS wallet has quite a story!” Grogan said.

This allowed Grogan to finally track down the legal name associated with the 0x475 ETH address by poring over the legal documents.

In an unusually heartwarming conclusion, Grogan managed to get in touch with the owner and let him know of his long-lost riches.

The wallet owner’s response to Grogan being unaware that the funds had ever existed. Source: Twitter

I hope I made his day, Grogan said.

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