A Guide to Recovering Your Assets from a Hacked Wallet
Helloo frens,
Welcome to a new issue of the Bankless Africa newsletter. We start this issue by being extremely thankful for all our readers and supporters. It’s been a pleasure having each and everyone of you on this ride of exploring the vast expanse of Web3 together.
So what do we have for this issue? Glad you asked. Let’s dive in.
In this issue💯📩
🎯 Recovering Your Assets from a Hacked Wallet with Hacked Wallet Recovery
🎯 Updates across the Multichain
🎯 Newsflash → Inside Africa 🌍
🎯 News Globe → around the world 🌐
🎯 On Air → Interesting podcasts episode to listen to🎧
🚨 Action Zone/Quick Links 🔗⚡
🎯 Recovering Your Assets from a Hacked Wallet with Hacked Wallet Recovery
As a Web3 enthusiast, you're likely aware of the critical importance of securing your wallet. This digital vault holds everything from your cryptocurrencies to NFTs and potentially much more, with values ranging from modest sums to staggering millions or even billions for the fortunate few. In true crypto style, the responsibility for safeguarding these treasures falls squarely on your shoulders. It's thrilling to have complete control over your assets, but let's face it, it can also be quite nerve-wracking, especially given the relentless threat of hacks in the Web3 world. Even the most security-savvy among us are not immune to these digital dangers. There's a running gag in the Web3 community: you've either been hacked, or yet to be hacked🥲. If you're among the lucky ones who've dodged this bullet so far, kudos to you! For those who've had the misfortune of a hack, I'm truly sorry. But don't lose hope—there's a ray of light in the form of a new tool developed by buidlguidl. It’s called Hacked Wallet Recovery, designed to help salvage your assets. Bankless Academy has put together an excellent step-by-step guide on using this lifesaver. Ready to dive in? Here's how👇🏾
Step 1: Connect Your Secure Wallet and Provide the Hacked Address
The recovery process begins by heading to the Hacked Wallet Recovery website and establishing a connection with your secure wallet. Once connected, you'll need to provide the address of the wallet that was compromised. This allows the Hacked Wallet Recovery tool to locate and secure your assets.
Step 2: Choose Your Assets
After the initial setup, you'll be presented with a list of assets detected in the hacked wallet. From this list, select the assets you wish to recover. If you notice any assets missing from the list, there's an option to manually add them, ensuring no asset is left behind.
Step 3: Review the Transactions
Before proceeding, take a moment to carefully review the transactions that the tool has generated for the recovery of your assets. This step is crucial for ensuring that all intended transactions are correctly lined up.
Step 4: Switch Network & Approve Transactions
Next, you'll need to allow Hacked Wallet Recovery to create and switch to your personal RPC network. This step is essential for preparing the transaction bundle for the recovery process.
Step 5: Fund the Hacked Account with Gas
To initiate the transactions, your hacked account will require a certain amount of gas – the fee required to execute transactions on the blockchain. Funding the hacked account with gas is a vital step, and patience is key as blockchain transactions can sometimes take time for complex transactions.
Step 6: Switch to Hacked Address
Now, verify your ownership of the compromised wallet. This verification step is a critical security measure, ensuring that the recovery process is legitimate and secure.
Step 7: Sign Each Transaction
For each asset you're recovering, there will be an individual transaction that requires your signature. This step involves actively authorizing the transfer of each asset you wish to recover from the hacked wallet.
Step 8: Wait for the Transfer of Assets
After signing off on the transactions, stay on the page and monitor the process until all transactions are complete.
Step 9: Recover Your Assets
Once the transfer is complete, it's time to check your secure wallet. Here, you should find all your retrieved assets. hooray 🙌🏾
While we are excited about this tool and it’s ability to help you recover your assets in case of a hack, it’s not 100 percent guaranteed that it will always work especially when the hacker quickly converts and moves your assets to a different change or offramps it. Prevention is therefore better than recovery. Take wallet security practices seriously on a daily basis.
🎯 Updates across the Multichain
🔗 There’s a new L2 in town and degens are salivating all over it. Blast is a new L2 that promises yield on assets. Users who join Blast can deposit ether or stablecoins and earn yields and BLAST points, which can be used to claim various rewards(airdrop).
This has sparked fomo where people are bridging to accumulate points for future airdrop. To join the network though, you need an invite code. We got a few. Goodluck.
blast.io/WCO8F
blast.io/9KYLK
blast.io/CHXDV
blast.io/IGD38
blast.io/0UEV1
blast.io/KE4ZB
blast.io/HWQM0
Check out Blast here
🎯 Newsflash → Inside Africa 🌍
🗞️ Crypto Valley Venture Capital (CV VC) to invest $20 million in early-stage crypto and Web3 startups in Africa through its AfricaFund. Read
🗞️ Lagos-based fintech FrontEdge secures $10 million in a seed round of funding to facilitate the growth of cross-border trade in Africa. Read
🗞️ Tether Freezes $225 Million in USDT After DOJ Investigation, Calling It 'Largest-Ever Freeze of USDT'. Read
🎯 News → around the world 🌐
📰 Kyberswap drained $48million from hack
🚨 Action Zone/Quick Links 🔗⚡
🖇️ Watch a youtube video on how to use Hacked Wallet Recovery
🖇️ Take the Bankless Academy Wallet Basics course
🖇️ Take the Bankless Academy Web3 Security course
🖇️ Read about Blast launch announcement
And that’s all for today frens. Thank you for reading. Stay safe and catch you on the next one. Peace!
