Estonian LHV Bank co-founder Rain Lyhmus has lost his wallet password with 250,000 ETH (more than $473 million at the time of writing) and intends to restore it using artificial intelligence. He said this in an interview with ERR.
The businessman received coins during the ICO of the second largest cryptocurrency in July 2015. Since then, they have been motionless. At that time, the purchase cost him $75,000.
On November 10, 2021, when the price of Ethereum reached ATH ~$4,800, Lykhmus accumulation reached $1.22 billion. But even the current balance is similar to the amount at which the share of its core business is estimated.
The businessman admitted that he lost the password to the wallet and still did not make much effort to restore it. Nevertheless, now it is ready to accept third-party help in this matter and even resort to the latest technologies:
"My plan is to create Rain Lyhmus as an AI and see if he can get his memories back."
The Estonian called the possibility of losing access to funds a "weak point" of the blockchain.
"It makes you think that this perfect decentralization carries other risks that you don't usually think about," he added.
The businessman received coins during the ICO of the second largest cryptocurrency in July 2015. Since then, they have been motionless. At that time, the purchase cost him $75,000.
On November 10, 2021, when the price of Ethereum reached ATH ~$4,800, Lykhmus accumulation reached $1.22 billion. But even the current balance is similar to the amount at which the share of its core business is estimated.
The businessman admitted that he lost the password to the wallet and still did not make much effort to restore it. Nevertheless, now it is ready to accept third-party help in this matter and even resort to the latest technologies:
"My plan is to create Rain Lyhmus as an AI and see if he can get his memories back."
The Estonian called the possibility of losing access to funds a "weak point" of the blockchain.
"It makes you think that this perfect decentralization carries other risks that you don't usually think about," he added.
