Glossary
Wallet recovery glossary
The terms we use, explained in plain language. Start with the word that matches your situation.
Wallet basics
Crypto wallet
Software or hardware that holds the keys to your cryptocurrency. The coins live on the blockchain; the wallet holds access.
Hot wallet
A wallet connected to the internet (desktop, mobile or browser).
Cold storage
Keys kept offline - for example on a hardware wallet or paper wallet.
Hardware wallet
A physical device (such as Ledger or Trezor) that keeps keys offline and signs transactions.
Non-custodial
You keep control of the keys and funds; a service never holds or moves them for you.
Custodial
A third party (such as an exchange) holds the keys on your behalf.
Browser wallet
A wallet generated in a web browser (common in 2011-2018; some had weak randomness - see Randstorm).
Exchange wallet
A wallet hosted by an exchange; access is through the account, not a seed you control.
Watch-only wallet
A wallet that can view balances and addresses but cannot sign transactions.
Multi-signature (multisig)
A wallet that requires more than one key to sign, e.g. 2-of-3.
Metal backup
A fireproof physical copy of a seed phrase, stamped into metal.
Public key
The public counterpart of your private key, from which your address is derived. Sharing it is safe, but a public key or address alone is never enough to restore access.
Web3 wallet
A browser or app wallet for decentralised applications, such as MetaMask or Trust Wallet. It uses a recovery phrase and often a vault or keystore file.
Vault (MetaMask)
The encrypted file in which MetaMask stores wallet secrets, unlocked with your MetaMask password. A usable recovery phrase lets you restore the accounts derived from it and set a new local password. This does not decrypt the old vault: that still requires its original password, which may be a candidate for targeted password analysis.
Secure element
The hardened chip in hardware wallets (such as Ledger) where keys physically live. Even with full device access, keys cannot be read out of it.
Crypto inheritance
Crypto belonging to someone who has died. Heirs and executors can restore access with the right documentation; we work with notaries and lawyers on such cases.
Access & backups
Seed phrase (recovery phrase)
The ordered list of words (usually 12 or 24) from which your wallet and keys are derived. With it, a wallet can be recreated.
BIP39
The standard that defines the word list and checksum for seed phrases.
Passphrase (25th word)
An optional extra word or phrase added to a seed phrase; a different passphrase creates a different wallet.
Private key
The secret that allows transactions from a specific address. Anyone with it controls those funds.
Public address
The address you share to receive funds; it does not give access.
Keystore / UTC file
An encrypted JSON file containing a private key, protected by a password.
wallet.dat
The wallet file of Bitcoin Core (and some other software), which can contain keys and transaction history.
Paper wallet
Keys printed or written on paper, typically with QR codes.
Brain wallet
A wallet whose key is derived from a phrase you memorise - risky because phrases can be guessed.
BIP-38
A standard for encrypting a private key on paper with a passphrase (keys start with 6P).
SLIP-39 (Shamir)
A standard that splits a seed into shares; a threshold of complete shares restores the wallet.
Wallet export
A file or format that lets you move keys between wallets (e.g. a private key or a wallet.dat copy).
Sweep
Importing a private key into a wallet and moving its funds to a new address you control.
Gap limit
How many unused addresses a wallet scans during restore; funds beyond the limit may not appear.
Account index
The numbered account inside an HD wallet; a different index means a different set of addresses.
Electrum seed
Electrum uses its own word list and seed formats that differ from BIP-39 and vary by version. Restoring an Electrum wallet needs the right software version and knowledge of the old formats.
Data recovery
Recovering files from a failing, wiped or non-booting drive. Wallet files (wallet.dat, keystores, backups) can often be reconstructed from a disk image; with physical damage a specialist bench is usually needed.
Unlock password (app)
The local password that unlocks an app such as Phantom or MetaMask. It protects only that installation and is not the same as the recovery phrase: with the seed you set the wallet up again yourself.
Solana keypair file
A JSON file holding a Solana account's private key as 64 bytes; the wallet can also be restored with a base58 private key. With a (partially) readable file, access recovery is often possible.
Polkadot JSON backup
The encrypted backup file of polkadot.js and Polkadot apps, protected by a password. With the file and the password the account restores; a forgotten password can be analyzed in a targeted search.
Technical
HD wallet
A hierarchical deterministic wallet: one seed derives many addresses and accounts.
Derivation path
The route inside an HD wallet that defines which account and address type is used.
Checksum
A validity check built into seed phrases; a wrong word usually fails it.
Encrypted wallet
A wallet file protected by a password; both file and password are needed.
Brute force
Systematically testing many password or phrase combinations, ideally offline with GPU acceleration.
Blockchain
The public ledger that records all transactions; entries cannot be reversed.
WIF
Wallet Import Format: a common way to write a Bitcoin private key (starts with 5, K or L).
Hex key
A private key written as 64 hexadecimal characters.
Entropy
The randomness a seed is generated from; predictable entropy is what Randstorm exploited.
BIP32
The standard behind hierarchical deterministic wallets (one seed, many keys).
BIP44 / BIP49 / BIP84
Standard derivation paths for legacy, wrapped and native SegWit addresses.
KDF rounds
How many times a password is hashed to derive a wallet key (e.g. Bitcoin Core uses at least 25,000) - more rounds means slower guessing.
GPU acceleration
Using graphics cards to test many password candidates per second in offline searches.
Wordlist
The fixed list of words a seed phrase is drawn from (BIP39 uses 2048 words).
Dictionary attack
A form of brute force that tests words, names and common patterns. Effective against self-chosen passwords; a fully random password creates a much larger search space and requires case-specific assessment.
PBKDF2 & scrypt
Key-derivation functions that protect wallet files: scrypt (or PBKDF2) for keystore files, PBKDF2 for BIP-39 seed derivation. They make every password thousands of times more expensive to test.
Salt
A unique random value mixed into encryption. Every file gets its own encryption, and a password cannot be precomputed.
Legacy & SegWit
Bitcoin address formats: legacy (1...), SegWit (3...) and native SegWit (bc1...). One recovery phrase can generate addresses in any format; the right derivation path decides which ones you get back.
bech32
The modern address format for native SegWit (bc1...). Older wallets do not always display it, which regularly causes confusion about "missing" balances.
EIP-55
The mixed-case checksum for Ethereum addresses. It detects many accidental typing errors, but not every error, and does not prove that the address belongs to the intended recipient. Always verify the destination.
ERC-20 & BEP-20
Token standards on Ethereum and BNB Smart Chain. Tokens are not standalone; they live on the same address as your ETH or BNB and follow the same recovery route.
Mainnet & testnet
Mainnet is the real network, testnet a practice environment. A "restored" wallet on the wrong network is reading a different ledger, so it typically shows an empty balance instead of your funds.
UTXO
Unspent Transaction Output: a "coin" on the blockchain, as with Bitcoin. Your balance is the sum of your UTXOs, each signed with its own key.
Cross-chain (wrong network)
Crypto sent to the wrong network (e.g. an ERC-20 token to BNB Smart Chain) lands on an address you know, but on another chain. Whether it can be returned depends on both networks and the token.
Two-factor authentication (2FA)
A second check on accounts and in some wallets, such as Electrum. Lost 2FA on an exchange account can only be resolved by the exchange; with Electrum, the route depends on the recovery phrase, retained authentication methods and wallet configuration. The ordinary 2FA wallet file alone is not enough to replace the missing second factor.
CashAddr (Bitcoin Cash)
CashAddr is a Bitcoin Cash address format, often shown with the bitcoincash: prefix. A CashAddr address and its equivalent legacy address refer to the same destination; changing the encoding alone does not change the balance.
Byron & Shelley (Cardano)
The two generations of Cardano wallets: the old Byron era and the modern Shelley era. Backup length depends on the wallet: older Daedalus Byron wallets use 12 words, while Shelley wallets use 15 words in Yoroi or 24 words in Daedalus. A restored wallet shows no balance when the wrong era or derivation path is used.
Ethereum presale (2014)
The first public sale of ETH in 2014. Presale wallets used the encrypted encseed format or a JSON keystore; both are formats we know even when the original software no longer exists.
TRC-20 & USDT on Tron
The token standard of the Tron network. Most USDT lives on TRC-20; USDT also exists on Ethereum (ERC-20) and BNB Smart Chain (BEP-20). Many "recovery" cases are network confusion: the tokens are there, on the wrong chain view.
Monero seed (25 words)
Monero uses its own word list and a 25-word recovery phrase with a checksum - not the BIP-39 system of Bitcoin. Recovery requires the right software and knowledge of the old formats.
Spend key & view key (Monero)
A Monero account has two keys: the private spend key (moving funds) and the view key (viewing the balance). Without the spend key or full recovery phrase, XMR cannot be moved; a view key only shows the balance.
Green 2FA & multisig
Blockstream Green can use extra keys alongside the mnemonic: a two-factor key or multisig (e.g. 2-of-3). Without the required quorum of keys, the wallet cannot be opened.
BEP-2 & BEP-20 (BNB)
BNB's token standards: the older Beacon Chain (BEP-2, with memo) and the Smart Chain (BEP-20, see ERC-20 & BEP-20). Many BNB recovery cases are about opening the right network, not lost crypto.
Cryptocurrency
Digital money that exists on a blockchain and is controlled with private keys. No central party holds the balance; access depends on your wallet file, recovery phrase and password — which is the core of wallet recovery.
NFT (non-fungible token)
A non-fungible token: a unique digital asset recorded on a blockchain, usually an image, collectible or digital item. NFTs belong to the wallet holding their private key; a missing display usually means the wallet is not looking at the right chain or standard.
Stablecoin
A cryptocurrency designed to hold a stable value, usually pegged to a fiat currency such as the US dollar (for example USDT or USDC). Stablecoins are still self-custody assets: access depends on the wallet’s keys, not on the issuing company.
Cryptocurrency mining
The process by which proof-of-work networks such as Bitcoin create new coins and confirm transactions. Mining is not a wallet topic itself, but coins mined years ago often sit in old wallet software that needs recovery.
Smart contract
A program stored and executed on a blockchain, used by tokens, exchanges and DeFi protocols. Smart contracts move coins only when conditions are met; access to the coins still depends on the wallet keys.
Process
Free assessment
An honest first evaluation of whether recovery is realistic - before any work or payment.
No recovery, no fee
You pay a success fee only when access is actually restored.
NDA
A non-disclosure agreement, available on request before you share details.
KYC/AML
Identity and ownership checks used to verify the rightful owner or authorized representative.
Chain of custody
Documented handling of material when legal proceedings may follow.
Second channel
A different way to verify information (e.g. confirming a PGP fingerprint by phone). Never trust a key from email alone.
Verification call
A short call to confirm identity and ownership before sensitive work begins.
Client-controlled handover
The moment you open the wallet and move the funds yourself after a successful recovery.
Retention period
How long data is kept after a case, defined in the agreement and privacy policy.
Recovery scam
A recovery scam is a "recovery service" that asks for payment upfront, steals your data, or makes promises that are technically impossible. A serious firm never asks for money first and never asks for your recovery phrase or keys.
Phishing
Fake messages or sites trying to extract your recovery phrase or keys. Enter recovery phrases only on your own trusted device or official software - never via a link or an unknown site.