Tracing Your Lost or Stolen Crypto and Getting Them Back

 

Did you know people have lost millions in crypto investments due to missing passwords? And others have lost millions more to thieves? Then each victim asks the same question: Now, what do I do?

Don’t give up when you lose your crypto or have it stolen. There are still options available to you.

You entered the world of crypto with an investment strategy, but you should also have a recovery strategy. If you don’t, you’ve come to the right blog. When you complete this article, you will know exactly how to recover lost cryptocurrency.

Where Did You Store Your Cryptocurrency?

How you recover your crypto will depend on the type of wallet you use for storage. Just as there are different ways to invest, there are various ways of storing crypto.

There are digital custodial wallets. These are storage arrangements provided by third parties, such as a crypto exchange platform.

Some people prefer to be responsible for their wallets, so they store them elsewhere, usually on hard drives.

When You Forget Your Password

When you began investing in crypto, your crypto exchange assigned you a wallet secured with a password of your choice. If you can’t remember that password, there’s still a way to access your funds.

You’ll use a recovery phrase, also called a seed phrase. This chain of 12 to 24 random words was explicitly generated for you when you created your wallet. You should have kept it somewhere safe.

The crypto exchange computer will decrypt the seed phrase to reproduce your private key. Your private key is another string of encrypted data. If you have multiple accounts in a wallet, you will have a unique private key for each account.

But it doesn’t matter how many accounts your wallet contains. The seed phrase will unlock the entire wallet and all the accounts.

When You Forget Both Your Password and Seed Phrase

But what happens if you lose both your password and your seed phrase? You could hire an expert specializing in password recovery.

Password recovery services use high-speed computers to process every possible combination of letters and numbers that could create a password that you think looks and sounds similar to your lost password.

The process sounds simple but requires sophisticated computation and machinery and is expensive. The cost of the service may be more than the value of the crypto you’re trying to recover.

Sometimes a person who stores crypto offline cannot access a wallet because a file containing the key became corrupted or was deleted. The least expensive way to restore the file is to use commercially available data recovery software.

If the software is unsuccessful, try a data recovery service. It will use more powerful software and computer technicians’ expertise to locate your missing files. However, this is a far more costly option than using commercial software. And not all corrupted or deleted files are recoverable.

When You’re the Victim of a Crime

The worst loss of crypto is when criminals take over your account. For example, someone gets access to your password and masquerades as you to clean out your wallet.

Fortunately, the large crypto exchanges ensure your account against loss from theft. But they may only cover part of your total loss. Is there still a way to get back the remainder of your money?

At this point, the matter is far beyond the reach of the average person. You’ll have to bring in a firm that focuses on finding stolen crypto.

Rely on Professionals Who Know How to Recover Lost Cryptocurrency

Do you need help locating your lost or stolen crypto? Don’t delay. Each day that passes can make it more challenging to locate your funds.

If you’re convinced that your crypto purchases were smart investments, you need to protect those investments. Reach out to experienced crypto recovery experts.
 
We know how to recover lost cryptocurrency. Contact us today to get back what’s rightly yours.

Previous Post

Leave A Comment