Crypto Wallet

Lost the key to your Crypto Wallet? “Cryptocurrency Rescue” is here to help.

Ever imagined the possibility of locking yourself out of your crypto wallet. Well the probability of this scenario is significant. “Unciphered – cryptocurrency rescue” company aids the people to overcome the situation in a unique way.

What is Unciphered?

Many individuals trap themselves in the situation mentioned above, luckily a golden saviour who practices crypto-dark arts to salvage lost funds. Unciphered, a San Francisco-based wallet recovery business created in 2021, focuses on poorly implemented wallets by examining software and encryption flaws.

The most widely use strategy at the moment is called “brute-forcing”. In which the experts employ a cryptographic method that entails flooding the wallet with as much passwords as possible in the hopes of eventually recognizing the right one. 

Is it a legal way to extract lost money?

Well now the fundamental strategy is clear of the company, let us understand weather it is a way or not? 

Hacking crypto wallets is not a legitimate strategy to recover lost funds. It is an illegal activity that violates the law and puts people’s personal information and finances at risk. Additionally, stealing funds from a crypto wallet can result in irreparable harm to the owner of the wallet, who may have invested significant amounts of time and money into their digital assets. 

The company claims they proceed in a legal way. Here are 6 simple steps to understand how:-

  1. At initial step fill out a form 
  2. A company executive will contact you.
  3. Send your wallet information.
  4. The company will recover your cryptocurrency.
  5. Your old wallet is destroyed and you will receive a new wallet.
  6. The cryptocurrency is returned to you, deducting the company’s fee.

The most recent incident came to light on Friday when it disclosed the Unciphered had earlier this year exploited a weakness in the Firmware, the embedded software that contains machine instructions, to steal a private key from the well-known OneKey hardware Wallet. OneKey reveal the flaw in a statement, thank Unciphere for helping to find it, and declare that the problem had been swiftly fix.

How big is this market?

Approximately 23% of Bitcoin (BTC) could be permanent loss due to forgotten keys. The password composed of a string and numbers that enables you to access and handle cryptocurrency funds. According to Chainalysis, a blockchain research company. This translates to roughly 3.79 million BTC, or close to $90 billion. A staggering amount that accounts for less than a tenth of the total market value of all cryptocurrencies. 

To conclude, if someone has a lost access to their crypto wallet or has had their funds stolen, the best course of action is to report the incident to the relevant authorities and seek legal advice. In general, it is important to be vigilant and take steps to protect digital assets from theft or loss. This includes strong passwords, enabling two factor authentication, keeping software up to date, and storing private keys securely.