In 2025, recovery options for lost crypto accounts depend on whether the wallet is custodial or non-custodial. If a seed phrase is available, a non-custodial wallet can be restored by importing it. Custodial wallets often allow recovery via email-based password resets. However, losing both the password and seed phrase typically results in permanent loss. Significant losses have been documented, with millions in Bitcoin unaccounted for and cryptocurrency fraud costs exceeding $9.3 billion, particularly affecting individuals over 60. Awareness of recovery processes and avoiding scams is crucial.
Losing both the password and seed phrase for a non-custodial wallet usually means permanent loss of access to the crypto wallet.
According to Ledger analysts, as of early 2025, between 2.3 million and 3.7 million Bitcoin (BTC) is permanently lost.
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