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Bitcoin, while down from its all-time high, is still well above its previous highs over the past few years. And with any exponential rise in the price of BTC, the number of frantic people with bitcoin stashed somewhere in a crypto wallet protected by a password they’ve long since forgotten – well, that’s increased exponentially as well.
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“These days because of the price rise and just the increased interest, we get around 50 to 70 requests daily,” he said. (For our interview we connected over a web chat service that doesn’t require user accounts, just a unique URL. Evo Bitcoin cares about his privacy and prefers an “ephemeral WebRTC conversation.”)
The proprietary software is essentially a brute force attack on your crypto wallet; it tries millions of passwords in quick succession. Run on Linux nodes hosted on AWS, the algorithms the software uses try a multitude of permutations of whatever potential password customers think might be associated with the wallet. This often works because unfortunately, people tend to reuse passwords, despite a host of reasons to not do so.
Cryptocurrency is generally deemed as pretty secure, but sometimes things do happen. Even top traders have had cryptoassets lost or stolen and, until quite recently, it seemed like there was very little one could actually do about it. Thankfully, there are ways to get your cryptocurrency back. Well be looking at the top ways to recover your lost or stolen crypto, and how to avoid going through something so traumatic in the first place!
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