Prime Trust Discovers $45 Million in Old ETH Holdings

Earn money with the top Binance exchange

Prime Trust Discovers $45 Million in Old ETH Holdings

Prime Trust Discovers $45 Million in Old ETH Holdings

The wallet address, 0xf4E11b89519EcCd988A56749f1C64aD9bFe0298f, has brought to light the challenges of managing digital assets securely.

We believe a wallet with a token portfolio worth over $45M (95% ETH) is a Prime Trust legacy wallet and is currently inaccessible to their team – matching yesterday’s court filing.0xf4E11b89519EcCd988A56749f1C64aD9bFe0298f

— Arkham (@ArkhamIntel) June 28, 2023

The announcement came via Arkham’s platform X, shedding light on the substantial sum locked in the inaccessible wallet. The company’s revelation has prompted questions about the security of such valuable assets and the practices followed in managing them.

Prime Trust Discovers $45 Million in Old ETH Holdings

Prime Trust CEO Jor Law made a startling revelation in court documents filed today. The documents stated that the company had lost access to the physical devices responsible for storing tokens in customers’ wallets. The setback has raised concerns about the safeguarding of cryptocurrencies and the possible repercussions for affected customers.

Furthermore, it was revealed that the migration of Prime Trust’s previous wallets to a new system was not fully completed. This oversight allowed the continued support of customer transactions to the old wallet address. This crucial detail has stirred debates on the necessity of meticulous execution during technical transitions, especially when dealing with financial assets of significant value.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.


Показать больше

Добавить комментарий