• 30 May, 2024
News

Crypto Whales Hold Billions, But Lost Access Makes Big Chunk Inaccessible

A new report by blockchain intelligence firm Arkham sheds light on the holdings of crypto’s wealthiest investors, but also reveals that a significant chunk of these holdings are inaccessible. According to Arkham’s dashboard, the top five crypto holders on their list currently hold a combined total of $3.47 billion in digital assets. However, a staggering $1.21 billion, or roughly 35% of that amount, is flagged as inaccessible.

The “richest individuals” dashboard reportedly tracks the public wallet activity of ten individuals, providing insights into their token holdings and transaction history. Justin Sun emerges at the forefront with a reported $1.06 billion in his wallet, dominated by his own stablecoin, Decentralized USD (USDD), and Tron’s native token (TRX). 

Following closely is Rain Lõhmus, founder of Estonia-based LHV Bank, with $769 million worth of Ether, albeit inaccessible due to lost private keys. A breakdown of holdings across various cryptocurrencies such as NOPS, LFT, DEXIO, and ELEC provides a nuanced understanding of investment strategies and market preferences.

Among the top holders are familiar faces in the crypto community. Ethereum co-founder Vitalik Buterin commands the third position with a wallet containing $757 million, primarily in ETH. Stefan Thomas, the former chief technology officer at Ripple, follows with $442 million worth of Bitcoin, inaccessible since 2011 due to a lost password. James Fickel, a notable crypto venture capitalist, rounds out the top five with $436 million in digital assets.

Other notable crypto wallets include Patricio Worthalter, an early adopter who holds $219 million worth of digital assets, mainly ETH. Another name that stands out is Winslow Strong, a General Partner at Cluster Capital, who holds $27.5 million worth of digital assets. It’s important to note that this list doesn’t include whale wallets that are linked to unknown or pseudonymous owners, such as Satoshi Nakamoto, Bitcoin’s creator, whose BTC holdings are estimated to be worth tens of billions across multiple addresses.

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