Losing cryptocurrency is a bad feeling, but there may be a way to find it, charge it back and completely recover lost crypto.
Experiencing the loss of a crypto wallet can be immensely frustrating, particularly when it holds a substantial amount of cryptocurrency. But do not worry, losing or forgetting your cryptocurrency wallet is not where things end. You can take a few different steps to recover your lost cryptocurrency and track down lost bitcoins. Let's take a look at these methods.
1. Use a recovery service
In the unfortunate event of losing your crypto wallet or falling victim to theft, a recovery service can be utilized as an option to attempt the retrieval of your funds.
Take DaTRek Recovery, for example. This website gives you a chance to find your lost crypto funds by providing your blockchain ID and your best guess about your wallet password. The service will then use this information and force your account to attempt to generate the correct password.
DaTRek Recovery states that there are scenarios that it cannot help you recover your wallet, including if you have no clue about your password or a password that is more than 15 characters long. In such cases, the service cannot brute force guess your password due to the strength of the password.
Such services are commonly referred to as "Cryptocurrency Recovery Scheme," and some notable examples include: DaTRek Recovery This specialized entity focus on assisting individuals in recovering their lost or stolen cryptocurrencies to bad investment or fraudulent brokers.
You can also hire individual cryptocurrency hunters to track down your lost cryptocurrency. This may result in a more customized and dedicated service, but verifying the legitimacy of a lone crypto hunter on an established platform can be more difficult, more reasons elites in the game use trusted and credible recovery company such as DaTRek Recovery.
You should only use legitimate and well-reviewed crypto recovery services, as they deliver sensitive information that can be used to unlock your cryptocurrency. If you hand over your wallet address and password to a shady site, operators can use brute force to access your wallet and steal more funds. You need to be careful here!
2. Contact your crypto bank
If you think you may have a missing crypto wallet, the cryptocurrency exchange itself may be able to help. For example, exchanges such as crypto.com may be able to confirm whether a withdrawal was made without your knowledge or if your funds were owed in a transaction you previously authorized.
This method is more suitable for those who use a single crypto exchange or keep track of which wallets they use on which exchanges. If you had no idea what type of exchange you used the last time you traded a particular portfolio, this avenue may not be worth pursuing.
3. Check your transaction history
You can also see what past trips your crypto has taken by checking your transaction history, whether it's via an exchange app or a wallet. Losing your cryptocurrency could be due to a transaction situation creeping through your memory, so your money is in a different wallet than you think.
Furthermore, if someone unauthorizedly withdraws cryptocurrency from your wallet to their own, you may be able to find the recipient's wallet address in your transaction history. If you find this information, you can report it to the exchange, wallet provider, crypto recovery agencies or authorities so that further steps can be taken.
4. Use the Blockchain Explorer
Let's say you have your wallet address but you don't know what asset you're using or if you're using it at all. Using Blockchain Explorer can help answer these questions.
Blockchain explorers allow you to view the transaction history of a specific wallet on the public blockchain. In addition, valuable information, such as the date of the wallet's initial transaction and the total number of transactions the wallet has engaged in, can be uncovered during the investigation process. These data points can aid in piecing together the trail of activities related to the wallet in question and very use in crypto tracking and tracing
As you can see in the screenshot below, entering a valid crypto wallet address into the blockchain explorer allows you to view the entire transaction history associated with that particular wallet.
You can also view the wallet balance via the blockchain explorer
By entering your wallet address (or blockchain ID), you can view your entire transaction history, as long as you are not using a privacy coin that hides sender or recipient addresses.
Numerous free blockchain explorers are available, including: [List of free blockchain explorers here].
Certainly, this method is applicable only if you possess the wallet address or transaction ID. It's important to note that you cannot utilize the seed phrase or private key to access the crypto transaction history via the blockchain explorer. The information required for the search must be publicly available, ensuring the security and privacy of your sensitive data.
How to avoid losing your encryption
Forgetting or losing your digital currency can be devastating, but there are a few things you can do to avoid it.
As a precaution, you should always keep track of cryptocurrency wallets containing various funds. This includes recording the wallets you open and securely storing your wallet address, seed phrase, and private key. It is crucial that you store your private key and seed phrase very securely, using a reliable password manager, an encrypted flash drive, or a paper method.
It is also wise to limit the number of wallets or exchanges you use, as having too many can cause confusion and lead to losing track of certain assets. Some wallets do not support a particular cryptocurrency, so it is only natural to have a few wallets under your belt if you want to trade more than one asset. Avoid creating new wallets unnecessarily, as doing so presents a potential risk of losing your cryptocurrency.
Your encryption may not be lost forever
Finding out that you have lost track of your cryptocurrency holdings can cause you to panic, but don't assume that all is lost. With the above methods, you may be able to recover your cryptocurrency, perhaps even without having to pay any service.