How to Retrieve Your Hacked Crypto Wallet?

Have you ever been hacked? About 30% of the OneArt community members answered ‘yes,’ pointing to the top crypto space issue. To be true, it’s a dangerous trend in the whole industry. As of July 2022, hackers stole $1.9 billion worth of crypto (+ 0.7 billion compared to July 2021), according to Chainalysis.

Source: Chainalysis

The major hacks and other crypto security issues roughly correspond to spikes in these topics-related searches, which is natural. For example, ‘crypto security’ queries grew in popularity after the Wormhole exploit, with $325 million stolen in February. But the #1 question is ‘how do I retrieve my stolen crypto?’ OneArt tries to find out the answer (if there is any).

Source: Google Trends

The short one would be ‘by no means,’ since blockchain is immutable, and you can’t revoke a transaction once it was added to the blockchain.

However, miracles do happen sometimes, and there still is a tiny chance of getting your assets back:

  1. Centralized crypto exchanges may declare they return your stolen assets.
  • Binance reimbursed about 83% of assets stolen from Curve Finance users.
  • Bitfinex recovered most of the stolen funds in the form of BFX, but it was a long way to go.
  • BitMart’s CEO promised refunds to hack victims, but the latter complained they didn’t get any.

2. You may cross your fingers and wait till the small voice of human conscience makes a hacker change his mind like in the “crypto Robin Hood” case. The thief who stole $50 million refunded the money — but only to those who needed it (the hacker reserved the right to decide who fell into this category).

These cases are more of an exception. So, the best thing to do is to learn how to keep your crypto assets safe, as security breaches account for the most of cryptocurrency value stolen in 2020 — Q1 2022.

Source: Chainalysis

How to secure yourself in crypto

1️⃣ Cherish your seed phrase like the apple of an eye…

Continue reading on our new blog: https://oneart.digital/en/blog/how-to-retrieve-your-hacked-crypto-wallet#how-to-secure-yourself-in-crypto

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