Multibit Wallet Recovery  - Keychainx - We recover lost crypto assets
23.02.2021
KeychainX

Multibit Wallet Recovery 

There is a lot of people who lost access to crypto wallets. As you know (if you follow our blog longer than one week), we have a wide range of issues related to lost cryptocurrencies. Most cases apply to Bitcoin and Ethereum, but we can see the trend of getting more lost wallets with ERC-20 tokens or BEP20 wrong chain transactions. 

We want to dedicate this article to the Multibit wallet. There are many reasons why Multibit is a special and unique wallet. Still, it mainly boils down to its creation, which took place already in 2011, so at the very beginning, when the community around Bitcoin was starting to create.

Multibit owner = Multimillionaire?

Like most people in the crypto community, you must have wondered where you would be today if you bought Bitcoin in 2011 when the price was around a few dollars. Everyone thinks that they would be a millionaire today, but the truth is quite different. In those years, most people who bought bitcoins lost them on MtGox in 2012 or sold them for tens of dollars more. Hardly anyone kept bitcoins from those years, up to the prices that we could observe at the end of 2017.

Between 2011 and 2017, the Multibit wallet was trendy with tens of thousands of users. However, when answering the question, some people have millions in Multibit, but mainly because they forgot their wallet password, which they managed to crack with KeychainX. Those Multibit wallet owners who have forgotten their wallet passwords can enjoy the vast profits from the bitcoin they bought in 2011-2013. Currently, the Multibit wallet is not further developed, so it is impossible to use it.

Forgotten password Multibit wallet 

Warsaw, February 2021. 

We currently have a bull market that attracts new investors, and many people also remind themselves about their old wallets.

A few days ago I was taking a city bus to the airport. I was a little bit late, so I started to worry about whether I would make it to my plane, but I was lost in thoughts about the current wallets and the problems we have to solve.

Few more minutes passed, and my phone rang. I looked at the number, it seemed utterly foreign, but I decided to pick it up.

“Hello, am I talking with KeychainX, wallet recovery service?”

“Yes, how can we help you?” – I said

“I have a multibit encrypted wallet without a password, but I remember hints.”

In such cases, we can help; very often, the hints’ quality affects recovery speed. If the suggestions are entirely different from the password that the wallet owner set, unfortunately, the recovery process will take a long time. At that point, I didn’t know what kind of hints we would get, but I was optimistic. Sometimes I have a natural intuition towards specific clients and sense whether the solution to the problem and the recovery process will be more straightforward or very difficult. 

However, I sent the contract to the client without delay and then asked for a Keystore file and hints. At that point, I did not expect any additional surprises. In our industry, however, wonders are commonplace, which I could see the next day again.

The client signed the contract and then sent the file, which was damaged, as it turned out. It was a piece of the file that we couldn’t do anything about. Unfortunately, the client only informed us about it after sending it. He wasn’t able to explain how the file was corrupted but offered to send us his HDD where he was generating the wallet, and as he claimed, he never deleted anything.

How to recover Multibit wallet? 

A few days later, the hard drive was in our office. We started checking the entire disk. As we assumed, there was a chance that the file had been deleted, and we could restore the rest file pieces if they were not overwritten. In such cases, the main risk is that the files have been overwritten.  After plugging in the drive, we started searching for files that the owner did not delete. We have ready-made scripts that efficiently explore large data sets and show private keys (including encrypted) in all formats.

Of course, before that, we made a copy of the entire disk. Unfortunately, we were unable to find the whole file with the encrypted key. Therefore, it was necessary to recover the deleted data to check if there is a rest of our file to restore. We knew that we would not be able to recover the lost cryptocurrencies without it.

We started, and after 20 minutes of recovery …

BINGO!

There is the file we are looking for, and it is complete! So we started writing a script to crack the password. We knew one thing that we are in the middle of success 🙂

When asked how long the recovery process takes, our answer is typically 10 minutes to 4 months. In this case, our client had great hints, and we were able to recover the Multibit wallet in 15 minutes, so the result was pretty good. If you forgot your Multibit wallet password, you can contact us to determine the chances of getting your Bitcoins back.

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