A new Israeli startup is helping people access their cryptocurrency wallets and get back the cryptocurrency, like Bitcoin, they thought they would never see again.
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According to Brute Brothers co-founder Or Weinberg, despite its reputation, cryptocurrency has its downsides.
"Bitcoin allows anyone to be their own bank, but that also means that responsibility for safeguarding the coins themselves is on the holder," a setup he said can sometimes lead to problems.
"People forget the passwords to their [cryptocurrency] wallets and expect the retrieval process to be simple, the same as with any other internet service. But in this case, it's complicated if not impossible," he said.
The company's integrated solution allows cryptocurrency wallets that store the keys for cryptocurrency transactions to be restored, allowing users to get their money back.
According to a report on the Walla news website, they do this by guessing a portion of the users' passwords. In some instances, cryptocurrency can be located even if it was transferred to inaccessible places. Brute Brothers have even managed to extract funds from outdated cryptocurrency wallet applications that were out of service.
So far, the firm has successfully restored over $1 million worth of cryptocurrency.
"People bought Bitcoin a long time ago, and now these fragments are worth hundreds of thousands, if not millions, of shekels. Our goal is to tell all of these people: In some cases, we can get to the money and we can extract it. There's no reason to give up."
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