Failed to Access 3,000 ETH, Couple Wants to Sue Ethereum Foundation! - Kakiforex.com - Financial Market Media No. 1 in the World Failed to Access 3,000 ETH, Couple Wants to Sue Ethereum Foundation! Failed to Access 3,000 ETH, Couple Wants to Sue Ethereum Foundation!
InstaForex

July 26, 2021

Failed to Access 3,000 ETH, Couple Wants to Sue Ethereum Foundation!

 Another issue related to the ‘problem’ of crypto asset storage, only this time it is not related to Bitcoin (BTC) but Ethereum (ETH) as well.


Recently, Art couple William and Yuki reportedly asked for help to get 3,000 ETHs purchased through a pre-sale offer by the Ethereum Foundation in 2014.


The total Ethereum owned by the couple is now worth around $ 6 million, unfortunately they are not able to enjoy the profits they should have earned from the proceeds of their investment.




It is said that they have used the Coinbase platform and as much as 1.5 BTC was used to make the purchase.


However, the situation becomes difficult when in fact they never receive a JSON file that serves as a private key to open a crypto wallet.


Clearly they, the JSON file done at the time was not fully downloaded from the line:



“At that time, the percentage of downloads still showed about an hour and a half before the JSON file was fully downloaded. Unfortunately for us, the file was not accepted, ”explained William.


3,000 ETHs were successfully put into the wallet and they could monitor it. It's just, they can't open the wallet!


Even more troubling was when the organization promised JSON file backup emails but to this day they have not received any emails, causing them to have to hire a law firm in Switzerland to negotiate.


Unfortunately, lawmakers from the organization declined to negotiate on the grounds: "Ethereum has no liability for the loss of the wallet, password, and private key."


The founder of Cryptographic Media, who is also the former managing director of Coindesk, also explained that this situation is considered as a technology experiment where various unforeseen issues can occur.


The figure also suggests not to place excessive funds to the point of making you unable to deal with potential risks.


Given that 3,000 ETHs already carry millions of dollars in value, William did not give up.


It is said that the individual wanted to hire another law firm and wanted to file a suit against the organization until the JSON file was successfully received. They also created a fundraiser at gofundme.com to cover court costs.