What happens if I lose private key?

What Happens If I Lose Private Key?

If you lose your private key and do not have a backup (e.g. seed phrase), you cannot access the crypto in that wallet. There is no central authority to reset it. The funds remain on the blockchain but are effectively lost. This is why backing up the seed phrase is critical. Store it offline in more than one secure location. For custodial (exchange) wallets, losing your password can often be recovered through the platform's process, but you do not control the keys there.