What is a Crypto-Hunter and can he find your lost Bitcoin cache?

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Every year thousands of dollars of cryptocurrency are stolen or lost. Of the 19 million Bitcoins in circulation, around 20% are considered irretrievably lost. Hacked crypto wallets or forgotten wallet start phrases prevent users from accessing their wealth forever.

Fortunately, there are two groups of professionals you can turn to to recover your lost coins: “crypto-hunters” and “crypto-hypnotists”.

What is a Crypto-Hunter?

As the name suggests, a crypto-hunter searches for and retrieves lost or stolen cryptocurrency. Crypto hunters are usually computer programmers or anyone in the related field.

Crypto-hunters use a variety of programs and devices to accomplish their tasks, from specialized software to supercomputers that generate thousands of password combinations. Some use hacking techniques similar to “classic” hackers to help customers recover their cryptocurrency.

One method is a brute force attack, in which millions of passwords are tested in quick succession to crack a wallet. The crypto-hunter will usually request as much information about the wallet as possible. Any existing information can dramatically reduce the time it takes to break into a wallet. However, if there is no existing information, a crypto hunter may deem the wallet unrecoverable (due to existing IT limitations and the time it would realistically take to crack the password or otherwise) .

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Crypto-hunters also offer exclusive repair services with internal equipment if the problem is with faulty hardware, such as broken hard drives or SSDs.

While most customers are looking for help with lost Bitcoin or Ethereum, cryptocurrency hunters offer services in a range of cryptocurrencies, including Dogecoin, Litecoin, and Tether stablecoin. Some also help customers recover stolen NFTs.

Some have also created dedicated crypto-hunting companies. Well-known crypto hunting companies include:

But there is more out there.

How much does a Crypto-Hunter cost?

Any individual, investor, or business looking for long lost tokens can hire a crypto hunter. Additionally, some cryptocurrency hunters work with law enforcement to find stolen cryptocurrencies. However, due to the nature of the cryptocurrency space, where everyone prefers anonymity, few details are known about the industry.

Crypto hunters accept payments in cryptocurrency or fiat currency. The cost of hiring a crypto hunter largely depends on the size of the customer’s lost cryptocurrency. For example, Wallet Recovery Services typically takes 20% of the total amount recovered.

A few other factors also come into consideration when setting a price: difficulty, success rate, duration of the hunt (some data can be retrieved in ten minutes, some can take over a year, and some will be unsuccessful), the type of device that will be used for hunting, and so on.

What is a crypto-hypnotist?

If the crypto-hunt doesn’t work, some resort to hiring a crypto-hypnotist. A crypto-hypnotist has training in hypnotherapy and uses a range of hypnotic methods like mindful meditation to help clients remember their wallet password or where they misplaced their hardware wallet.

How much does a crypto-hypnotist charge vary. It has been reported that customers are required to pay a lump sum before a Skype session begins, but some are also charged a portion of the total amount of the cryptocurrency sought, which can be a significant sum.

Recover lost cryptocurrency

Many Bitcoin, Ethereum, and cryptocurrency users have lost access to their wealth due to reckless or improper storage, so much so that there is now an industry dedicated to helping people recover lost money. . It is estimated that billions of lost cryptocurrencies are floating in virtual space, waiting to be found. So, recovering lost digital money is a lot like a treasure hunt.

However, the complex and demanding nature of the job means that hiring their services may not be the most affordable option.

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About the author Jie Yee Ong (62 published articles)

Currently based in Melbourne, Australia, Jie Yee has writing experience in the Australian real estate market and Southeast Asia tech scene, as well as conducting business intelligence research in the wider Asia-Pacific region.

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