Passwords To Billions Of USD In Lost Bitcoin Can Be Recovered, Says This Firm

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"We get a really broad spectrum of clients. We have a client who is an early-stage miner in bitcoin who lost all of his information and he knows he's got some bitcoins somewhere … We get clients who were told in 2017 to buy into the hype-bubble and they bought USD 1,000 [worth of BTC] and they are looking for something to cover the rent," son Charlie told Business Insider.

Studying a thread on the BitcoinTalk forum, the father and son identified 72 posts that described the loss of at least BTC 0.5. Their analysis showed that 14% of these are potentially recoverable, and that, based on their experience, they can decrypt some 35% of passwords. As a result, they concluded that about 2.45% of lost bitcoin could be retrieved.

While many users forget the password that protects their cryptocurrency at a certain point, the majority of them succeed in retrieving it, as shown by a recent survey of some 1,021 US cryptocurrency owners by Cryptovantage. The survey showed that 39.7% of respondents had previously forgotten their passwords, but 95.6% managed to regain access to their crypto assets.

Businesses such as Crypto Asset Recovery are handy to those investors who cannot retrieve their passwords on their own. However, as David Veksler of walletrecovery.info previously told Cryptonews.com, "there are many 'Bitcoin recovery' scams. Almost all of them have two things in common. First, they ask for money upfront. Legitimate services ask for a percentage of recovered funds. Second, they make impossible promises rather than trying to understand your situation and offer realistic advice."

Industry players working in the field of crypto recovery declare that the vast majority of popular wallets are secure, and even if you have somehow been locked out of your own wallet, there are a number of ways you can regain access. Of these, some are new, while others revolve around unglamorous detective work.
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