Institutions entering the cryptocurrency space are encountering unique challenges in managing wallet security and recovery. With billions in assets under management, companies like MicroStrategy, Tesla, and PayPal have had to implement robust recovery mechanisms. Losing access to corporate wallets is not an option, as it could jeopardize operations and shareholder trust. MicroStrategy’s founder, Michael Saylor, […]
Hardware wallets, like Trezor and Ledger, are lauded for their ability to provide offline storage and robust security against cyber threats. However, they are not without limitations. Cases of physical damage, firmware corruption, and forgotten PINs frequently challenge users, proving that even the most secure wallets can falter. In December 2024, a widely publicized case […]
The phenomenon of inaccessible wallets continues to challenge the crypto industry. A recent Chainalysis report revealed that approximately 20% of Bitcoin in circulation, worth billions of dollars, is effectively stranded due to forgotten passwords, misplaced seed phrases, or hardware failures. This represents a significant portion of the crypto economy trapped in limbo. Michael Gronager, CEO […]