The following is a guest post from Robert Rhodin, the CEO of KeychainX.
As the crypto market’s capitalization has grown, the diversity and complexity of assets also increase. This growth, supported by advanced technology and innovations, also increases the number of lost or inaccessible assets. It is estimated that hundreds of billions of dollars of digital currency remain in limbo due to forgotten passwords, hardware failures, and the untimely death of asset owners.
According to research, around six million of Bitcoin’s total supply of 21 million is missing. Another report shows that 29 percent of Bitcoin has not moved in the last five years. Of course, this includes long-term investors or those who have not touched their assets for a long time. However, it is also a fact that some BTCs are lost or cannot be accessed due to forgotten passwords.
Fortunately, the view is not dark at all.
New methods and technologies continue to be developed to recover lost, forgotten or inaccessible digital assets. Regardless of the user’s balance, crypto wallet recovery services help to recover lost Bitcoin or Ethereum from software or hardware wallets.
This piece discusses the advanced solutions used by crypto recovery firms to recover lost assets. The article emphasizes technical skills, legal acumen, and customer-focused approaches that support recovery efforts.
Advanced AI Techniques
At the heart of crypto, recovery are cutting-edge technical solutions designed to tackle a variety of issues, from forgotten passwords to damaged storage devices.
Artificial Intelligence (AI) models are at the forefront of transforming crypto recovery strategies. By harnessing the power of machine learning, these models can analyze vast datasets to identify patterns and predict the most likely passwords and encryption keys. AI-powered methods find new undetected patterns used to find lost passwords.
PASS-GPT, a new AI model based on OpenAI’s GPT-2, has 20% more password-guessing capacity than its counterparts. PASS-GPT uses a technique called progressive sampling to generate hard-to-decipher passwords and evaluates the password’s strengths and weaknesses, revealing its potential utility in crypto recovery efforts.
Building on the foundation laid by AI, the hardware that powers these recovery efforts is equally important.
The Power of Modern GPUs and CPUs
The introduction of new and faster GPUs (graphics processing units) and CPUs (central processing units) provides a substantial boost to the computational capabilities available for crypto recovery efforts. These advancements allow for more effective brute-force attacks, which are methods of trying all combinations until the correct password is found.
GPUs are favored in many cryptographic calculations and brute-force attack scenarios due to their ability to perform a large number of simple calculations simultaneously. CPUs, on the other hand, are not as efficient as GPUs for parallel processing tasks — CPUs are more suited for memory-intensive encryption algorithms like SCRYPT. Designed to be computationally intensive to deter large-scale custom hardware attacks, SCRYPT serves as a password-based key derivation function.
With the muscle power of GPUs/CPUs, the process is executed faster and more efficiently —improving the chances of successful recovery without compromising the security of the assets.
Algorithms vs. Side-channel Attacks
Algorithm innovations play a critical role in improving the decryption capabilities of recovery services. Algorithms optimize for hardware with ever-increasing operating speeds and capacities and obtain more precise results.
While these algorithmic advancements significantly enhance the decryption capabilities of crypto recovery services, they also bring us to the forefront of an ongoing battle against increasingly sophisticated threats. Among these, side-channel attacks emerge as a challenge, exploiting the physical execution of these advanced algorithms to compromise security.
Side-channel attacks are a technique used to attack hardware devices like Trezor or Keepkey by observing the physical parameters of a system, such as power consumption and electromagnetic radiation, and electronically glitching the device to bypass security measures like PIN check.
Most side-channel attacks are divide and conquer. So, they get an ordered list of secret key fragments. Considering the listed key pieces and their probabilities, it is today not possible to protect against side-channel attacks without adding extra security like passphrases or extra word to 24-word seeds when using Trezor and Ledger devices.
Ethics and Security
As we advance technologically, we must also confront the ethical and security implications of these innovations. While the aim is to recover lost digital assets, being aware of potential scams is paramount.
Legitimate crypto recovery services stand out by never requesting upfront fees and operating transparently and ethically. However, the prevalence of scams, characterized by promises of guaranteed recovery or requests for sensitive information, poses a significant threat.
Users must ensure to avoid imitation websites that mimic the names of legitimate recovery services. These fraudulent sites may purport to assist with fund recovery but instead aim to misappropriate funds. Before making a request, it would be wise to research the presence and reliability of the rescue service on social media platforms such as X to verify its authenticity.
This focus on ethical practices and security measures is not just about protecting assets but also about safeguarding the trust and privacy of individuals in the crypto space. By adhering to these principles, recovery services can offer a beacon of hope to those who have lost access to their digital fortunes without compromising the integrity of the ecosystem.
In Conclusion
The integration of AI models like PASS-GPT, advancements in computing hardware, innovative algorithms, and techniques like side-channel attacks are significantly enhancing the capabilities of crypto recovery services. These technological breakthroughs offer new hope for recovering lost assets, showcasing the potential to address even the most daunting challenges.
As the digital asset landscape continues to evolve, staying informed about the latest recovery technologies and best practices is the best defense against loss. Users should choose recovery services wisely and always prioritize security and ethics.
The post New AI and hardware may crack the code on lost crypto appeared first on CryptoSlate.
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