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Crypto wallet users may be able to regain access to their assets in some cases even after losing part of a seed phrase or password, but recovery is effectively impossible if a randomly generated seed has been lost in full, Cointelegraph reported.
Bruno Krause, co-founder of wallet recovery firm ReWallet, said recovery is possible by testing likely combinations if some words from a BIP39 seed phrase remain or if there are clues about how the password was created. By contrast, Trezor Bitcoin analyst Lucien Bourdon said no recovery service can help if a user has lost a wallet backup and also cannot access the wallet storing the private key. Bourdon added that users considering a recovery service should check genuine customer reviews and avoid firms that demand upfront payment.