As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset landscape, I find Conor Grogan’s recent endeavor to be nothing short of remarkable. His determination and persistence in tracking down an anonymous owner of a substantial stash of idle Ethereum Classic is a testament to his dedication and unwavering commitment to the crypto community.
Conor Grogan, the Head of Product at the Nasdaq-listed cryptocurrency exchange Coinbase, has recenty through an investigation uncovered a sizable stash of idle cryptocurrencies wirth over $320,000. And subsequently traced their owner to warn them of the funds.
Based on a Twitter post Grogan made available to his followers on the social media platform Twitter, he was able to locate resources to help a user who had lost their life savings due to hacking. This endeavor began by investigating the wealthiest addresses associated with Ethereum Classic (ETC).
I found $322k for a stranger who previously lost their life savings in a hack
— Conor (@jconorgrogan) July 5, 2023
In my analysis as a financial analyst, I uncovered that Ethereum underwent a network fork in the year 2016, resulting in two distinct chains. As an Ethereum user holding funds at that time, I would have received a one-to-one credit for those same funds on the Ethereum Classic chain operating on the other network.
In essence, this airdrop served as a transfer of Ethereum Classic (ETC) tokens to Ethereum (ETH) holders originally. Yet, surprisingly, many who received this unexpected fortune failed to utilize it, resulting in a large amount of unused and dormant ETC tokens.
Grogan successfully identified approximately 20 locations that contained over a quarter-million dollars worth of Ethereum Classic. His skillful detective work guided him to meticulously examine each of these locations, seeking any possible means to connect with the owners of these funds.
Initially, his tireless work seemed fruitless, encountering numerous blind alleys along the way. However, luck smiled upon him when he discovered an address starting with “0x475,” although tagging was less advanced at that time compared to today. At first glance, this new address too appeared to lead nowhere, but then he stumbled upon the name “EOSDAC” for a token that had been airdropped onto Ethereum for EOS holders in 2018.
It seemed like 0x475 led to another roadblock, with no means to identify the wallet’s owner. However, I came across an unusual cryptocurrency called EOSDAC, which was unfamiliar to me. Interestingly, this coin was distributed as an airdrop to Ethereum users who held EOS back in 2018.
— Conor (@jconorgrogan) July 5, 2023
The airdrop linked the Ethereum wallet’s user to an EOS address, allowing Grogan to discover that 0x475 had his savings in cryptocurrencies stolen in 2019 and was involved in a legal dispute with their cybersecurity service provider and crypto exchange, Bitfinex.
To wrap up his intriguing detective story, he reached out to the unaware individual, delivering the long-awaited information about the return of their hidden wealth.
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2024-08-05 21:12