Think of them as the metal detectors of the digital age. Instead of combing beaches for gold, these experts use everything from supercomputers to hypnotherapy to reunite people with their lost cryptocurrency.
According to Chainalysis, a blockchain-analysis firm based in New York City, about a fifth of all bitcoin—around $20 billion—is lost, most of it permanently. When people purchase bitcoin, the details of their transactions are stored in software called a “wallet,” which they can unlock with a personal-identification number. Unlike an ATM PIN, this password can’t be recovered easily, since there is no bank to retrieve it.
High Tech Applications and Old-School Methodology:
Going low tech Jason Miller of South Carolina has tuned his skills as a hypnotist to manipulating his client’s memories in order to reveal the repressed information knocking around in their sub-conscious.
“Everybody has a photographic memory. With skilled hypnotic regression, you can access that photograph.” Miller says about his services, that have so far had a 50% success rate, he charges .5 Bitcoin up front and 5% fee of whatever is recovered.
Of course, all of this pain and suffering can be easily avoided by jotting down relevant passwords and PIN numbers on paper, which are then put in a safe place as many exchanges and wallet makers recommend.