The founder of LHV Bank loses his private key to a $470 million cryptocurrency stash!

The post The founder of LHV Bank loses his private key to a $470 million cryptocurrency stash! appeared first on Coinpedia Fintech News

Rain Lhmus, founder of LHV Bank, has lost the private key to his cryptocurrency stash of 250,000 ether (ETH), worth approximately $470 million.Lhmus had acquired the stash during the Ethereum Initial Coin Offering (ICO), and the wallet has remained untouched since the genesis of the Ethereum blockchain. Lõhmus confirmed in a recent interview that he had lost the password to the wallet and was open to collaborating with anyone who could assist in recovering the lost keys. The LHV Bank founder acknowledged that losing passwords was a recurrent issue for him, saying that it was a vulnerability of blockchain systems.