Estonian to create AI version of himself to recover Ethereum wallet password

Rain Lohmus, co-founder of Estonia’s LHV Bank, has lost the password to a wallet containing 250 000 ETH (more than $473 million at the time of writing) and intends to recover it with the help of artificial intelligence. He told ERR.

The coins were obtained by the businessman during the Ethereum ICO in July 2015. Since then they had lain dormant. At that time the purchase price was $75,000.

On November 10, 2021, when the price of Ethereum reached ATH, Lohmus’s holdings reached $1.22 billion. But even the current balance is roughly equivalent to the value of his stake in his core business.

The businessman admitted that he lost the wallet password and had not put much effort into recovering it. Nevertheless, he is now prepared to accept third-party help on the matter and even to turn to the latest technologies:

“My plan is to create Rain Lohmus as an AI and see if he can recover his memories”.

The Estonian described the possibility of losing access to funds as a ‘weak point’ of blockchain.

“This makes one think that this perfect decentralisation carries with it other risks that you don’t usually consider”, — he added.

In April 2023, an unnamed participant in the Ethereum ICO moved the coins for the first time in almost eight years.