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How to Recover Lost Crypto?
Posted: Jan 09, 2024
Usually, losing crypto means that the trader lost his access to the Wallet, password, or private key. However, an investor may know the crypto wallet address and can even trace it. But, you may not get access if you forget or delete the seed phase.
When you are unable to access your crypto wallet, you have two options to recover it. The first option is to seek assistance from a professional crypto-hunting service. The second option involves extracting data from the hard drive that contains the lost private key.
Check the following steps on how to recover lost crypto.
Seek Assistance from A Professional Crypto-Hunting Service
As many people lose their cryptocurrencies, many companies started services to find the lost cryptos. These providers utilize computing power and advanced algorithms to search for a seed phrase or password through brute computing methods. But it is not an easy task.
The amount of time and effort that a professional crypto-hunting service needs largely relies on the user’s ability to recall crucial information. If the user can remember portions of the seed phrase or password, then the required time can be significantly reduced.
However, normally the crypto hunter doesn’t charge and fixed amount. Instead, they ask for a percentage of the total cryptos they can retrieve. Therefore, they only take the task if you lose a huge sum of virtual currencies.
Extract Crypto Data form Hard Drives
There might have been some cases where investors delete their wallets or seed phrase by mistake. In such cases, extracting data from hard drives will help. In most cases, deleted files are not permanently removed from the system and can be recovered using specialized software that can also retrieve corrupt files. Although users may need to download, install, and operate the software themselves, this method is relatively more affordable than hiring a professional crypto-hunter.
However, it is important to keep cautious when selecting a recovery software program. Because the industry is still in its early stages, there are numerous crypto scammers and fraudulent individuals offering ineffective recovery services
Stolen cryptos resulting from a compromised seed phrase, fraudulent activity, or unauthorized access to a custodial wallet or cryptocurrency exchange can be retrieved. The most common approach to recover the stolen funds is by tracing the money and notifying crypto exchanges to freeze the account while engaging a professional crypto hunter.
However, before you know the ways on how to recover stolen cryptocurrency, you need to know the nature of the theft.
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