Man Recovers 26 ETH From Old Maker Vault. It’s Now Worth $100k
With the recent ETH surge, imagine stumbling upon a stash of ETH that you have forgotten about. This is exactly what one Reddit user experienced.
The man took to Reddit to express his excitement over the discovery. In his post, he noted that he had found a total of 26 ETH in his Maker Collateralized Debt Position(CDP) account in a computer he used while living with his inlaws.
” Just found 26 eth! Signed into my profile on my in-laws’ computer that I was using when I was living there between buying a house. Clicked on a link I had saved on my desktop and signed into the maker CDP account. BOOM 26 eth leftover I had no idea I still had.”
A unit of ETH is currently worth 4,047.71 at the time of writing, according to data from CoinMarketCap. Therefore, the total value of the ETH that the man found is about $105,240.46.
The man had been fortunate to have seen the computer where the ETH was stored and to even remember the password to the account.
Digital assets worth millions if not billions of dollars have been lost to forgotten passwords. While cases of forgotten passwords are quite popular, some other users have lost their computers, hard drives, or laptops where their cryptocurrency was stored.
Earlier in March, the founder of InfoWars, Alex Jones, revealed that he had lost a laptop with 10,000 BTC worth over $570 million.
The second-largest cryptocurrency, ETH had recently embarked on a massive bull run. Yesterday, it crossed the $4,000 mark and has since been on the increase.
Growing Institutional Interest In Ethereum
With ETH’s recent surge, it is gradually capturing the interest of several large institutional investors who are realizing the potential use cases for the cryptocurrency.
Just last week, the Canadian fintech company, Mogo, completed the purchase of 146 units of ETH worth $405,880, at an average purchase price of $2,780 per unit.