Hacking Crypto Wallets Is Latest Strategy in Quest to Recover Lost Billions

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Hacking Crypto Wallets Is Latest Strategy in Quest to Recover Lost Billions
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Lost access to your crypto wallet? uncipheredLLC can work on recovering those funds by finding vulnerabilities in the wallet's code. cryptauxmargaux reports

shows that 7% of presale wallets have never had any crypto move – suggesting the ETH in those wallets have just been sitting there, untouched, ever since the Ethereum blockchain went live in 2015. That’s 621 of the 8,893 wallet addresses, or 521,574.608 ETH .Some users may have lost funds through no fault of their own but because of flaws in the wallet’s underlying code. In such cases getting help from a recovery specialist can be like calling a private eye to look for clues.

“Helping this one customer helped us find this bigger problem,” Eric Michaud, Unciphered’s co-founder, said in an interview with CoinDesk. “He opened this entire door," Michaud said about this initial client, who got the ball rolling for recovering other customers' funds that were locked in the legacy EthereumWallets. “There's countless people locked out that we haven't reached out to yet or we hope they come to us because they're clearly still locked out.”

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