East Africa News Post

Complete News World

Growth of companies specializing in password recovery

Growth of companies specializing in password recovery

As the value of Bitcoin has risen, interest in recovering passwords for currently locked wallets has also increased. So much so that the companies responsible for this have been witnessing a significant increase in their activity for some time as a result of investor requests.

It’s happened to all of us at some point: we created an account on a platform, and after many years of no use, we ended up leaving. Forgot or lost access credentials. A scenario that, in most cases, is not very serious. However, when it comes to Bitcoin, the situation can change dramatically. Especially if we take into account the value that these and other cryptocurrencies have reached in recent years. Great encouragement for portfolio recovery.

As Reuters reported, the companies are dedicated to… Restore access to the wallet They will increase their activity significantly in recent months. The reason for inaccessibility of wallets is not only due to forgotten passwords, it is also important to take into account the increase in hacking in recent years or loss of access to security devices. Two-factor authentication Which prevents correct identification. This also happens, for example, when we change phone numbers and cannot reach the previous number.

Problem accessing wallets

Access your cryptocurrency wallet as soon as we lose its credentials It’s not a simple task. The scenario that causes a business model to emerge, with Bitcoin increasing its current value, causes its activity to increase dramatically. These are companies dedicated to restoring access to wallets that were initially blocked.

See also  Japanese court sentences two Americans who helped escape Carlos Ghosn's cinematic escape

The previously mentioned media outlets confirm that some of them were able to achieve growth in… Order size The number of users reaches 334%. This is a number that is increasing at the same time as interest is rising in more than recovering the investment made in this well-known cryptocurrency for years.

20% of Bitcoins are inactive

According to the same previously mentioned media, it is estimated that 20% of 19 million bitcoins Those in circulation are inactive. Adding value of approximately $237 million. It is undoubtedly a good indicator to understand the global value of the business model adhered to by companies trying to deal with portfolio recovery.

The services provided by these types of companies cost the investor 20% of the total portfolio content. However, most of them work successfully. That is, the wallet owner does not have to pay unless the wallet is fully redeemed. If the funds are not accessible, no amount will be due.