Coinbase executive recovers $322K of dormant crypto, returns it to oblivious owner

Conor Grogan helps recover $322K of once lost crypto

Conor Grogan, a seasoned professional at Coinbase, recently played the role of a crypto Indiana Jones by successfully recovering $322,000 of dormant Ethereum Classic (ETC) and reuniting it with its oblivious owner. This unexpected windfall occurred on the evening of July 5, leaving the fortunate crypto investor considerably richer.

In a comprehensive Twitter thread, Grogan, who serves as the director of product strategy & business operations at Coinbase, divulged the fascinating tale of his discovery and subsequent contact with the owner of this forgotten wealth.

Grogan shed light on the background: when the Ethereum blockchain experienced a fork in 2016, it gave rise to Ethereum Classic. Investors who held the conventional Ether received an equal amount of ETC through an airdrop. However, many individuals never acknowledged or accessed these new funds, as Grogan explained.

“Neglecting to keep track of airdrops or forgetting about funds on the blockchain is a common occurrence,” Grogan shared, adding that he had previously assisted investors in recovering six-figure sums. As proof, he shared a screenshot where he notified a Twitter user of 23 ETH lying dormant and untouched.

Uncovering these forgotten wallets is no easy feat. Grogan embarked on a meticulous journey, meticulously examining the “ETC rich list” to identify accounts that had never utilized their ETC holdings. After identifying approximately 20 addresses with over $250,000 worth of ETC, he diligently explored each one, endeavoring to establish communication.

Grogan faced numerous roadblocks along the way, encountering mostly dead ends in his search. However, he eventually stumbled upon an address beginning with the prefix “0x475,” which intrigued him. Interestingly, this wallet contained eosDAC (EOSDAC), a cryptocurrency distributed to Ethereum holders via an airdrop in 2018.

Leveraging this newfound information, Grogan skillfully utilized the airdrop amount and the snapshot date to connect with the owner’s EOS wallet. Delving deeper into the matter, Grogan discovered a fascinating history associated with this particular EOS wallet, which ultimately led him to unveil the legal name associated with the 0x475 ETH address, thanks to extensive analysis of legal documents.

In a heartwarming twist of events, Grogan successfully contacted the owner, unveiling the existence of their long-lost riches and returning the funds to their rightful place. The tale stands as a remarkable example of the positive impact and opportunities within the crypto world, reminding investors to stay vigilant and informed about their assets.

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