Crypto Trader Locked Out of Wealth After Losing Ledger Recovery Phrase

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 20 2026

Explore Agentic TradingLet AI Trade for You

Self-Custody Risks: Crypto trader Ocrxa lost access to his Ledger wallet after misplacing his recovery phrase, locking his assets, which, while the exact value remains unconfirmed, highlights the risks of self-custody where users forfeit standard password reset protections in exchange for asset security.
Recovery Process Warning: Ledger devices reset to factory settings after three incorrect PIN attempts, erasing stored private keys, and access can only be restored if the user possesses the Secret Recovery Phrase, underscoring the critical nature of this phrase, as its loss can lead to permanent inaccessibility.
Storage Recommendations: Recent safety coverage has stressed that recovery phrases must be protected from both theft and loss, with single-location storage increasing recovery risks and digital storage posing theft risks, thus advising users to implement offline backups and ensure redundancy to handle device failures or phone changes.
Phishing Risk Alerts: Ledger users are facing phishing attack risks, with one user reportedly losing about $1 million after exposing their recovery phrase, illustrating that while losing a phrase can lock users out, leaking it can allow attackers in, emphasizing the importance of secure storage and backup practices.

Get Real-Time Alerts for Any Crypto Movement

Monitor assets like SCRT with instant alerts on price breakouts and whale movements. Don't let a 24/7 market leave you behind.

Technical Analysis for SCRT

Technical Sentiment Analysis for Secret (SCRT). As of , Secret (SCRT) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SCRT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, SCRT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Secret (SCRT) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0676	0.0726	0.077	0.082	0.0864	0.0914	0.0958
Fibonacci	0.0726	0.0762	0.0785	0.082	0.0856	0.0879	0.0914

About SCRT

Secret Network is a layer-1 blockchain built on Cosmos which uses TEE technology to ensure all input, output, and state are encrypted by default. This hardware approach is the fastest and most efficient form of confidential computing. Its smart contracts are called Secret Contracts and allow decentralized applications to use private data on Secret, similar to how smart contracts operate on other blockchains. However, Secret Contracts are private by default.Additionally, Secret Network has launched the Secret AI SDK which uses TEE-enabled GPU hardware, integrated with the L1 blockchain, unlocking privacy-preserving decentraized AI. Secret AI allows for end-to-end encrypted LLM models and AI agents, unlocking private chatbots, DeFAI agents, proprietary AI business models, and more.Through interoperability via Cosmos Inter Blockchain Communications standard and further integrations of Secret’s Confidential Computing Layer, it unlocks privacy-preserving smart contracts for public blockchains including Ethereum, major EVM networks, and Solana. Making Secret Network the confidential computing hub of web3 and AI.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

Let AI Trade for You

Auto Trading Task on SCRT?

Get Started Free