The account, which was originally filled with ETH, purchased during Ethereum’s Initial Coin Offering in 2014, first registered at $75,000. Now sitting at $474m, Lõhmus’ lost wallet represents an investment that has grown approximately 6,300 times. However, without a key, Lõhmus unfortunately cannot retrieve this astronomical wealth.
In today’s session, Ethereum sits at $1,906.80, ETH/USD. Despite the current standings, Ether’s 17% return falls short compared to Bitcoin’s substantial 27% gain over the last 30 days. Not only does this create uncertainty with regard to Consensys, a private blockchain company and key play in Ethereum’s virtual ecosystem, but it also reiterates the distrust investors and former employees feel toward Ethereum and Consensys.
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Consensys AG’s 27 shareholders allege that Joseph Lubin, Consensys AG’s co-founder, stripped the Swiss firm and its shareholders, of major assets. This violated his 2015 promise to not dilute equity. Lubin is accused of transferring core assets with JPMorgan to a US entity and stripping the Swiss shareholders’ assets and equity. Lubin is the co-founder and CEO of Ethereum.