FAQ's

Think about a toast, to the honesty of people who understand though not perfect, we can turn to the law for protection of our property rights by seeing it recovered if lost or stolen.

Most recovery services deal with seizing, freezing and recovery of assets where access to wallets or private keys is already secured. Tohonesty goes beyond that and helps recover your assets even if yours keys are lost.

Our business aims to reclaim your cryptocurrency, lost under the following circumstances

  • accidentally: lost private key, seedphrase, passphrase, hardware or wallet file

  • estate management: where no instructions were left for access

  • stolen: from hacked exchanges, computers or appropriated illegally in any way

  • any other form of loss

Misinformation. Bitcoin has been going since 2009. During that time a narrative has developed which tells you that if you are not in possession of your keys, you no longer own your crypto assets. That is all. It’s pure misinformation. Do not believe it. For further detail on how this came about by all means use the Request a Callback form.

We are experts on the Bitcoin protocol. If you ask we can show you very quickly that possession of keys alone, is not ownership. And its ownership that matters in the end under the law. Imagine your car keys were stolen and in the possession of someone else. You still own the car legally. The law as always can put that straight immediately. This is something we all understand quickly. There is absolutely nothing special about cryptocurrency assets. 

We give you these numbers to make it clear how big the problem of lost coin is and to visualise where you stand as a crypto asset owner in the whole scheme of things.

Professional research indicates about 20% of all crypto assets currently distributed, has been ‘lost’. By lost we mean owners believe it no longer belongs to them because they no longer are in possession of their keys, wallet or it was stolen on the exchange.

Chainalysis, a research firm that analyzes activity across different cryptocurrency markets, estimates that between 2.78 and 3.79 million, or between 17 and 23 percent of all bitcoins have been lost.

ToHonesty maintains a lost coin database to keep our eyes on how much is lost, how much is recoverable and other data points useful to our analysis in helping our clients recovery. 

  • 3.79 million of all BTC distributed so far amounts to about US$240 billion. This is the total amount of Bitcoin available for recovery. If you have lost your Bitcoin, it will come out of this number
  • The largest lost coin owner is about US$7 billion.
  • A theoretical representative action for accounts in the Mt. Gox exchange hack could recover up to 850,000 Bitcoin or US$50 Billion
  • The Tulip Trust which may or may not be lost is valued at $70 billion
  • Our LCR database shows the top 10 Lost Coin Owners are valued at over US$15 billion
  • There will be tens of thousands of smaller yet not insignificant family owners amounting to $billions, some of which could be recovered in a class action
  • Our LCR database has already captured about 12% of the total Bitcoin distributed. And nearly 60% of estimated lost Bitcoin.
 

Note: Unless otherwise stated, ToHonesty uses Bitcoin Core (BTC) as a reference blockchain, because it has by far the largest number and highest value of lost coins. All values priced up with BTC @$63,000 on 1 March 2024