Tuesday, June 8, 2021

How to Restore Old Multibit Wallet & Recover Funds

Multibit is a lightweight desktop Bitcoin wallet for Windows, MacOS, and Linux came on the surface in 2011. From 2011 to 2017, the Multibit wallet was quite popular with thousands of users around the corner. However, in mid of 2019, the owner company stopped providing further support for both Multibit Classic and Multibit HD. Many people bought bitcoins and stored them in Multibit wallets in the early days of cryptocurrency. Some have millions in Multibit, but could not recover money mainly because they had forgotten or lost passwords of their wallets. Sometimes, a hard drive crash pushed people into this issue. It means they could become billionaires overnight from bitcoin investments they made earlier if they are able to restore the old Multibit wallet and recover funds. There are a lot of people who lost access to crypto wallets. There are different reasons and ways to restore Bitcoin from a Multibit wallet. Firstly, you'll need a recovery mnemonic also known as recovery seed. If it is not written somewhere then you can use your software wallet to find them from specific folders. The simplest one is to export the private key from a backup file. A backup enables the recovery of funds in the event that Multibit files are corrupted or accidentally deleted. If the hardware where the Multibit wallet was installed gets crashed then a hardware recovery using different pre-made tools and scripts can be useful. In such cases, the main risk is that the files have been overwritten. Deleted files are recovered and checked for the encrypted key. Also, if you only have an encrypted Multibit wallet, and you don’t know the password, you will have to brute force the Bitcoin wallet password to restore funds. For this purpose, one can use a Python script that can extract recovery words from a backup file.


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