Lost Your Phone? Here’s What to Do About Your Crypto

Losing a phone can be stressful, especially when it is also used to access crypto wallets, exchange accounts and two-factor authentication. The first step should be securing the accounts that were accessible from the device, including changing passwords and disabling the lost device where possible. Users should also check whether their wallet’s recovery phrase is safely backed up and whether the wallet itself was protected by a separate password or biometric security. If an exchange app was installed, contacting the platform and temporarily restricting access may also be sensible. The situation becomes more complicated for self-custody wallets because losing the phone isn’t necessarily the same as losing the crypto. What should every crypto user have prepared before losing their phone?