on the crypto
A programmer recently released a tool that can recover lost BTCs using partial key data. The program simplifies what can be a painstaking and frustrating process when the portfolio data is lost or damaged.
A tool that recovers missing information
Redditor u / Coding_Enthusiast has developed a new tool, published under the name "FinderOuter". Although not the first program designed to recover lost key data, it simplifies the process.
FinderOuter has a simple interface that allows the user to enter partial information for the Base-58 or Base-16 private keys. Starting from this information, he is able to recover the whole key.
The open source tool can be downloaded from Github. The author plans to add additional features, such as the ability to use partially known information to recover complete BIP-based phrases and seed passwords.
Certainly, this new software will not fail potential users, since the loss of private keys is responsible for many lost Bitcoins. In fact, according to some estimates, up to 25% of all existing Bitcoins are currently inaccessible.
Other techniques can help restore lost funds
It is almost impossible to recover lost private keys without some partial amount of information, but not all lost Bitcoin cases are hopeless. TO
for example, computer crashes have often been responsible for the loss of funds, but there are many tools, both hardware and software, that can restore failed hard drives. Furthermore, files deemed corrupt are often easily recoverable.
In general, different hardware or operating systems are able to read the data believed to be lost. The same goes for files that have been deleted, since tools designed to recover deleted data have existed for decades.
Proper storage of bitcoins is more important than ever
Any cryptocurrency investment strategy should start with a plan to properly store long-term funds. In a nutshell, the best way to get back lost Bitcoins is to never lose them first.
Unfortunately, bad management of cryptocurrencies is all too common. Handing through hardware wallets has long been considered the best way to protect against leaks.
The fact remains that the phrases to access these devices require to be carefully written and kept in a very safe place. Cryptocurrencies should never be kept on exchanges, nor should wallet data be stored on any device without an adequate backup.
In addition, considerable sums of cryptocurrencies were lost because the owners died without providing the necessary recovery information. Therefore, this possibility should be considered in any plan investment in the long term.
