Mattew Mellon dies and $ 500 million in XRP are lost.
In the United States, one of the first investors in Ripple (XRP) suddenly died, but all of his investments seem to have been lost forever. Heir to the family of American bankers, entrepreneur and crypto investor Matthew Mellon was one of the first supporters of the Ripple (XRP) cryptocurrency and was famous for his successful investments in tokens.
Matthew Mellon and his investment in Ripple
In recent years, Matthew Mellon has acted as an advisor to Ripple Labs. He has Invested in XRP tokens in 2015, only $ 2 million and it turned to about $ 1 billion in the beginning of 2018, according to Forbes. Mellon took the 5th place in the list of cryptocurrency billionaires.
According to experts, even with the XRP crash in the first quarter of 2018, at the time of the death of billionaire Matthew Mellon, XRP tokens worth about $ 500 million (or about 1 billion coins) were stored in his crypto wallets.
According to people, who were familiar with Mellon, he was paranoid in security matters. He stored his crypto assets on dozens cold wallets, which were distributed over secret bank storages throughout the United States. Even if these wallets can be found and identified, private keys will be needed to extract the tokens. Only Mellon himself knew keys to his wallets.
The family of the deceased does not disclose information about the fate of his crypto investments. It is possible that his impressive cryptocurrency capital had been lost without any chance of recovery.
As the New York Post notes with reference to the statement of Mallon’s relatives, he was passing a rehabilitation program in one of the Mexican clinics. For a long time he used oxytocin, spending on the drug more than 100 thousand dollars a month.
Mellon repeatedly told in various interviews about his problem.
In particular, Mallon admitted that every day he consumed about 80 painkillers oxytocin. Their effect on the nervous system is comparable to opioid.
As the wife of businessman Tamara Mellon told, two years ago her husband went to one of the best clinics. He was going to get completely cured of addiction. However, his plans did not become reality.