Conor Grogan Recovers Hundreds of Thousands in Dormant Crypto

Key Points

• Conor Grogan located some inactive ETC worth $322,000 and gave it back to its owner.
• Many investors forget they have funds on-chain or don’t keep track of airdrops, leading to dormant crypto.

Conor Grogan, the head of product at Coinbase, recently shared how he recovered hundreds of thousands of dollars worth of dormant cryptocurrency and contacted its owner.

In a Twitter thread, Conor Grogan explained that many investors forgot about their cryptocurrency on-chain, or did not keep track of airdrops.

In 2016, the Ethereum blockchain forked and Ethereum Classic (ETC) was created. Anyone who held Ether (ETH) on-chain at that time received an identical amount of ETC through an airdrop. However, many investors never touched these new funds, according to Grogan.

Conor Grogan stated that it is common for investors to forget about their funds on-chain or not keep track of airdrops. As a result, he has helped retrieve six-figure amounts for investors in the past. In one instance, he even notified a Twitter user of 23 ETH that had been sitting untouched.

Locating these wallets is not an easy task. Grogan began by searching through the “ETC rich list” for accounts that had never used their ETC. After finding around 20 addresses that held over $250,000 worth of ETC, he went through each one, attempting to discover ways to get in touch.

Although he hit a number of dead ends with most of the wallets, he eventually discovered an address with the prefix “0x475.” Interestingly, the wallet contained a cryptocurrency called “EOSDAC,” which was airdropped to Ethereum holders in 2018.

Grogan used the new information to connect with the holder’s EOS wallet by utilizing the airdrop amount and snapshot date. Grogan’s efforts allowed him to track down the legal name associated with the 0x475 ETH address by poring over legal documents. As a result, he was able to inform the owner.

This story serves as a reminder to investors to keep track of their cryptocurrency holdings and to be aware of any airdrops that may occur.

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