How to recover lost stolen cryptocurrency from ledger nano and trust wallet
Cryptocurrencies are a popular target for hackers because crypto transactions are pseudonymous and typically irreversible. This makes it challenging to associate stolen crypto with the real-world identity of the hacker and essentially impossible to reverse nefarious transactions. The chances of you recovering your cryptocurrency are, therefore, close to zero if your wallet is hacked. What’s more, if you suspect your wallet has been compromised, you need to act as quickly as possible to safeguard your funds. So, what can you do if your wallet gets hacked? In this guide, we take a look at how to know you have been hacked, what to do, and how to reduce the chances of getting hacked again.
How Do You Know You’ve Been Hacked?
Hackers prowl the Internet looking for vulnerabilities or weaknesses they can exploit. While advances in technology are helping make crypto wallets more secure, hackers typically use social engineering tactics, such as phishing scams, to get their victims to unwittingly provide them with access to their wallets. So, how can you know that your crypto wallet has been hacked? That’s very simple:
If you notice any transactions going out of your crypto wallet that you didn’t make, your wallet has probably been hacked.
Setting up notifications for transactions coming into or moving out of your wallet can help you catch nefarious transactions quickly. Alternatively, a wallet hack could also lead to unsanctioned transactions on your debit or credit card if they are linked to your crypto wallet. Some hackers won’t just go after your crypto. They will go after the money on your bank account, too, if they can get their hands on it.
What Can You Do Now?
If you are positive that your wallet has been hacked, you need to act fast. To start with, try and create a new wallet as quickly as possible and transfer all your coins there if the attacker does not already have access to them. Alternatively, you can quickly change your login details and activate two-factor authentication, which will enable you to lock out the attacker. However, if the hacker has already wiped your wallet clean, proceed to immediately create a new wallet and permanently delete the old one. Remember, you cannot reuse a hacked wallet as it has already been compromised. Additionally, you can contact the police and report your stolen funds if you plan on taking legal recourse to get your money back. Following these actions, check your devices for any malware. There are various ways that cybercriminals accomplish a bitcoin wallet hack, and crypto-stealing malware is a popular choice.
In the event that you notice any suspicious transactions or charges on your bank card or bank account (if they are in any way attached to your crypto wallet), call your bank immediately and inform them of the unauthorized transactions. Also, have them cancel your cards if they were linked to your crypto wallet. In case you notice the attacker is trying to transfer the funds from your wallet to a crypto exchange, you can immediately report it to the relevant exchanges. Because most exchanges have a KYC process in place, a good exchange can help you identify the thief’s identity, potentially leading to their arrest. So, how can you reduce your chances of getting hacked again?
How to Reduce the Chance of Getting Hacked Again
If you have been hacked, chances are you don’t want to go through that again. To reduce your chances of getting hacked again, with cryptocurrency recovery experts at POLYGON DECIPHER, you can take the following steps:
Ensure you don’t store your crypto on an exchange. Exchanges should only be used to temporarily store your crypto when you are buying or selling them.
Store your funds in a non-custodial wallet like Trust Wallet. Trust Wallet is a multi-asset crypto wallet that supports more than 40 blockchain networks and allows you to store 160,000+ digital assets.
Store your recovery phrase in a secure location offline, and don’t share it with anyone.
Use two-factor authentication where possible. Two-factor authentication can provide an extra layer of security to crypto service providers, exchanges, and wallets.
Store large amounts of crypto in a cold wallet. Cold wallets help you keep your cryptocurrency offline, which reduces the chances of hackers accessing and stealing your funds.
To prevent losing your crypto to hackers, use a secure wallet like Trust Wallet, back up your wallet recovery phrase, and stick to cybersecurity best practices to make sure your funds stay safe.
How to recover lost stolen cryptocurrency from ledger nano
Recover lost Ledger wallet account: Ledger wallets are hardware cryptocurrency wallets made by Ledger, a company headquartered in Paris, France. Ledger was launched in 2014 by eight experts who had backgrounds in embedded security, cryptocurrencies, and entrepreneurship. The company’s goal is to create secure solutions for blockchain applications.
Types of wallet — recover lost Ledger wallet account:
There are two types of wallet:
· Cold wallet
· Hot wallet
Hot wallet: Hot wallets are the most common types of crypto wallets because they are simple to set up and easy to use. When you create an account on an exchange, download a mobile wallet, or download a desktop wallet on your laptop, you are creating a hot wallet.
Cold wallet: Cold wallets are considered the more secure cryptocurrency storage solution as they are not connected to the internet. You only connect your cold wallet to the internet when you want to make a transaction.
Hardware wallets and paper wallets are both cold wallet options. However, hardware wallets are more popular as they are easier to use and come with customer support provided by the manufacturer.
What makes Ledger wallet different from other cryptocurrency wallets?
Ledger wallet is a hardware wallet that is device-based, which means they use storage mechanisms — USB drives — to store private keys, thereby making it difficult for hackers to access the key from an online location. Ledger offers two hardware wallets: the Ledger Nano S and the Ledger Nano X wallets.
What makes Ledger wallet is that it is cold wallet based. This is a type of wallet that the private key is stored on an offline device, it can be a piece of paper, a flash drive or a hard drive. The main purpose of a cold wallet is to take the private key off the internet so hackers can’t have access to it. So whoever is going to get the private key has to gain physical access to the device the key is stored on.
Recover lost Ledger wallet account
Ledger wallet have been able to mitigate both characteristics of a cold and a hot wallet. By making it easy to connect ledger cold wallet devices securely to the internet and being able to do almost if not all transactional functions of a hot wallet. So you can have your crypto on a secure platform and still be transact like you are using a hot wallet.
Can Ledger Wallet be hacked? — recover lost Ledger wallet account
With how secure Ledger is they have been a bridge on their server before, in July 2020 the Ledger was hacked. Approximately 272,000 customers were affected by the data breach with approximately one million email addresses leaked. Personal information such as postal addresses and first and last names were exposed, according to the company.
In addition to this breach of data, the stolen information was dumped onto a website called Raidforums, a website committed to database sharing. In response to this, Ledger has hired a new Chief Information Security Officer (CISO), conducted a series of penetration tests, and taken other measures to improve their security.
Owning a cold wallet is not entirely safe just like everything created by man. When you own a cryptocurrency wallet, what you have is a private and public key. A hardware wallet stores your private keys on a physical and portable device, rather than keeping it bound on a clunky PC or laptop. Your public key is the wallet portion of the software and your private key is the “deed” to your wallet, so to speak. It proves your ownership of it.
Hardware wallets can currently claim to be immune to certain viruses, as they are simply storing data without an operating system on it to infect. This claim is not necessarily true, as hardware wallets can still be infected with malware. As well, most hardware wallets still run on a given software, meaning that the quality of the wallet can only be as good as the software running it. So keep that in mind before committing to one under the impression that it’s invulnerable, no matter how many companies and developers make promises and earn certifications.
Keeping these flaws in mind, hardware wallets are useful as they serve as a better store for cryptocurrency but this does not mean they are invulnerable. Ultimately, you as an individual are the most reliable line of defence against hacks and information theft. Diligence and continuous learning are key habits to get into when handling a cryptocurrency portfolio of any size. Cybersecurity is an evolving field and will continue to be as both hackers and security professionals continue to race against each other. So it is more important than ever to continue to learn how you can protect yourself and your assets.
In case of a hack, how can you recover your Ledger wallet account?
In case of a hack be it a general occurrence or a personal hack you can wait for the customer care centre to attend to you but this will take a lot of time especially if it is a general issue. Your best option is to hire a private investigator from POLYGON DECIPHER. They can help you go through the software algorithm of the cold wallet or trace transactions related to your wallet on the blockchain to retrieve both your account and your cryptocurrency in case it has been transferred to another wallet.
