Crypto Wallet Password Recovery
Useful tips on how to go about recovering a crypto wallet password containing crypto-currency such as Bitcoin or Ethereum in as safe a manner as possible.
In this article IT Security Locksmith will be providing some useful tips on how to go about recovering a crypto wallet password for crypto-currency such as Bitcoin or Ethereum in as safe a manner as possible. This service is only available in the UK to Police Authorities, prosecuting authorities and solicitors registered with the Solicitors Regulation Authority (SRA).
Rule #1 Keep your wallet safe!
When attempting to recover a crypto wallet password it’s important to remember that the wallet contains real money and just like a wallet full of five pound notes, euros or dollars, it’s in your interest to keep it safe at all times. This may seem obvious but you don’t want to give anyone full control at any point unless you fully trust them. This is more important for crypto wallets because they can be duplicated and emptied at later dates even if you have still have possession of the original wallet.
Rule #2 Provide the minimum amount of access
To recover a crypto wallet password it is essential to extract the hashed value of the password used to encrypt the wallet. In most cases this requires a specialist piece of software to be run with the wallet as input. This can be performed under supervision on a computer under your control. Any recovery service should be able to assist with this. Then the hashed value can be transferred for cryptanalysis where the hash value is processed to enable the password to be derived or determined. For some specific wallets the full wallet needs to be shared – if the wallet potentially holds a significant amount of crypto-currency it may be necessary to conduct recovery on-site using specialist hardware and software with the equipment being securely wiped at the end of the recovery. This is to provide the owner of the wallet with the necessary peace of mind both now and in the future.
It is critical that the entire wallet is not copied because it contains the private key which enables funds to be transferred (both now and at any time in the future!).
Rule #3 Always perform due diligence!
When selecting a password recovery service, it is very important that you perform a full background check on the company and person performing the service. There is a degree of trust that you are placing in them, and the basic steps outlined above gives you limited control. If at any point you are not comfortable do not share the information about your wallet or the wallet itself.
Providing confidence
IT Security Locksmith is a UK registered company and more details are available at Companies House – https://find-and-update.company-information.service.gov.uk/company/14853879.
The crypto wallet recovery is performed by Jonathan Evans and his LinkedIn profile provides his background where he has managed the IT/Cyber Security and confidential matters for some of the world’s most prestigious and private banks – see here www.linkedin.com/in/jonathan-evans-78250213
Performing crypto wallet recovery
When performing recovery of a crypto wallet password, it’s important to remember that this is as much an art as a science. This means that password recovery is not guaranteed and that some passwords are so complex and difficult that breaking them is not viable. You should expect a success rate of 30-50%. It is important to have as much information about the owner who set the password as possible such as previously used passwords, PINs and where available computers or mobile devices.
Why is the recovery rate low?
This all comes down to the complexity and length of the password set on the wallet, whether it’s used regularly and if it’s been recorded anywhere as a backup. In general, people tend to set a more complex password than usual.
In my opinion, the rate is pretty good, sometimes people may think their new password is more complex but it is simply a variation of what they have used before or a combination of previously used passwords. If that’s the case there is a modest probability of recovery.
How IT Security Locksmith can help?
Given the nature of this service it is not available directly to the public as additional steps are required. This is to ensure it is suitably authorised and appropriate checks have been made.
If you have a crypto wallet that you need to have the password recovered IT Security Locksmith provide a premium service available to:
- UK Police Authorities and prosecuting authorities with supporting court order or similar
- UK Solicitors that are registered with the Solicitors Regulation Authority (SRA) after performing relevant checks including Know Your Client (KYC) and Anti-Money Laundering (AML).
Benefits of the service:
1) Processing performed in the UK / EU
2) Your due diligence questions supported
3) Non-disclosure agreement and service contract
4) Due diligence on-line meetings supported
5) In person meetings available for high value wallets
6) No recovery no charge!
Get in touch!
If you represent a UK Policy Authority, prosecuting authority or solicitor registered with the SRA and have any questions about the service please email: contact@itsecuritylocksmith.co.uk.
About IT Security Locksmith
IT Security Locksmith is a cybersecurity company that specialises in board level training and consultancy.
- To find out more about our capabilities please click here
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