Oct 2021 - Ellipal Lost Wallet Passphrase nak22589 - $50k (Global)
"Self-custody, full control of what yours Recommended by Forbes Trusted by users in over 140 countries Store over 10,000 coins and tokens"
"Air-gapped cold wallet is always 100% isolated from the internet. It is fully protected from unauthorized access, cyber hacks, malware, and any online threats."
"ELLIPAL was founded by two encryption technology experts, David and Thomas, in 2018. The company focuses on one-stop solutions for cryptocurrency security and blockchain service ecosystem. Headquartered in Hong Kong, ELLIPAL has warehouses in various parts of the world, such as Australia, Germany, the United States, and the United Kingdom to quickly meet the demands of fast growing customers."
"During a blockchain meeting in 2019,David proposed the concept of a cold wallet 2.0 and he named this new concept "air-gapped cold wallet". David applied this solution to ELLIPAL’s product: the ELLIPAL Titan Cold Wallet. The ELLIPAL Titan is the market leader of large screen air gapped cold wallet."
"We create the most secure cryptocurrency cold wallet and share a portable and fast cryptocurrency service system with all of mankind."
"I started socking money away on this thing Dec. 2020 BUT when I wanted to move some $ out I couldn’t remember my password. I guessed and unknowingly I created another profile when I actually thought I’d logged in. I tried sending money out but received error messages. Now I understand why. In the middle of this process all of the balances disappeared on the assets tab. Literally went blank. So now the page I used to track my balances as they grew in the different coins I owned, now was literally blank. I know I was looking at the right profile too because I could view the balances on another link/tab that showed me a pie chart instead. I know my coins are still there thanks to the blockchain explorer but the mnemonics will only bring up the second “profile” I’d created!! Not the original one with all my money! Customer service is basically non existent. After time on Reddit and speaking with Ellipal’s COMPETITORS customer service I have been led to believe that I must have created a “passphrase” when I initially set it up. I don’t think I did, I don’t think I would do that. Regardless it’s my only hope that I can think of. I will be trying every possible combination of “passphrase” that I can think of. I wish someone could help me! “0” stars
I know others have had similar issues. Is the only way to access this for me to guess what phrase I used when setting up? Hard to do when one doesn’t think they’d do that in the first place"
"On a side note I have 50k locked in my account that I cannot retrieve. I have my mnemonics but I have been lead to believe that I must have created a passphrase when I initially set up my account. I have been going through a trial and error method testing any phrase I can think of but no luck so far."
"It kept telling me that it was fully updated when it clearly was not. The only way I was able to figure it out was to update the firmware on another titan that I owned. It immediately worked on the first attempt when I used the second titan. This makes me highly skeptical of the initial wallet and it’s bugginess"
Further Analysis
Reddit user nak22589 was reportedly socking away money since December 2020, and accumulated up to $50k on their Ellipal hardware wallet. One day they experienced error messages when trying to move their money off the device. They believe that they may have forgotten the original passphrase which was used when first creating the wallet. These is some implication that the wallet interface is partially to blame for their confusion. It is unclear if they have been able to retrieve any of their funds from the wallet.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
Cream Finance Lending Attack > > < < Alpha Finance Sandwich Attack
Sources/Further Reading
Can’t recover account with mnemonics alone : ELLIPAL_Official (Dec 31)
nak22589 comments on Titan won't update (Dec 31)
nak22589 comments on Can Coins Be Recovered On Exodus Wallet? (Dec 31)
#Bitcoin #Ethereum, #Litecoin, #ADA How to link your #coldwallet account to ELLIPAL App? - YouTube (Dec 31)
#Bitcoin #ETH #crypto #hardwarewallet How to use ELLIPAL Titan to send and receive transactions? - YouTube (Dec 31)
ELLIPAL - YouTube (Dec 31)
ELLIPAL Official Website | Leader of Air-gapped Crypto Hardware Wallet
(Dec 31)
ELLIPAL Company Information
(Dec 31)
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