- Conor Grogan, the executive of Coinbase, has discovered a list of abandoned funds worth hundreds of thousands of dollars.
- These funds consist of Ethereum
Classic (ETC) balances that users are unaware of.
- Grogan has identified 20 addresses with over $250,000 worth of ETC tokens.
Abandoned Funds Discovered in Ethereum Classic Balances
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A recent social media post by Conor Grogan, the executive of Coinbase, has drawn attention to the existence of abandoned user funds. Through his research, Grogan has found that many users are unaware of their ownership of Ethereum Classic (ETC) balances worth hundreds of thousands of dollars.
Unaware Users with Abandoned Funds
Grogan’s research has revealed that these funds are comprised of Ethereum Classic balances that were generated during the Ethereum (ETH) fork in 2016. Surprisingly, the majority of users are completely unaware of this situation.
Discovery of High-Value ETC Balances
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After examining a list of untouched ETC balances, Grogan has discovered a total of 20 addresses with over $250,000 worth of tokens. This includes one user who possesses an impressive $320,000 worth of ETC, which was airdropped into their wallet during the 2016 fork.
According to Grogan, it is common for people to forget about their funds or fail to keep track of airdrops. In the past, he has found assets worth more than six figures for individuals.
Challenges in Reaching the Owners
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Grogan acknowledges that reaching out to the owners of these abandoned funds has been a difficult process. In 2016, there were no conveniences such as KYC, labeling, or Ethereum Name Services (ENS), and most users remained anonymous and untraceable.
One user, who was unaware of their significant assets, expressed their astonishment at the discovery:
“I didn’t even know this existed! I had heard of ETC, but I wasn’t aware that the same address was eligible for an airdrop.”
Appeal to Justin Sun
In his post, Grogan also mentioned finding untouched ETC balances in wallets owned by Justin Sun, the founder of TRON (TRX), on the Poloniex cryptocurrency exchange. Grogan called on Sun to contact him for further information.
Grogan stated that if Sun were to reach out, he would share the complete list. In addition, Grogan shared an image in his post, highlighting a balance of approximately $800,000 worth of ETC.