Introduction
Recovering a multi-sig Bitcoin (BTC) wallet can be a complex process, but with the right tools and precautions, it can be done securely.
This guide will walk you through the steps to recover a multi-sig BTC wallet using mnemonics, HD wallet paths, and open-source tools. Ensure that you perform these steps in an offline environment for maximum security.
Note - This guide uses BTC as an example, but will work for other similar UTXO chains like BCH, LTC, and DOGE as well.
Prerequisites
Knowledge of how multi-sig wallets work.
Access to the wallet’s mnemonic phrase and HD wallet path.
Wallet Key card: This will have details of the derivation paths and number of keys and configuration.
A secure offline computer.
Access to a full node or services like BlockCypher or Mempool.space.
How to Restore the Wallet?
Step 1: Gather Mnemonic for Required Keys
Determine the number of keys required to recover the wallet (e.g., 4 of 6).
Obtain the mnemonic phrase corresponding to the number of keys required.
Step 2: Retrieve Individual Private Keys (Offline)
Setup this tool on your offline computer - iancoleman.io/bip39.
Once done, open it on your offline machine.
Enter the mnemonic phrase into the BIP39 Mnemonic field.
Select the coin type (Bitcoin, BTC).
Verify that the Derivation Path is set according to the wallet keycard path.
Retrieve and securely store the individual private keys for each required key.
Step 3: Retrieve Public Keys
Use the wallet keycard to obtain the public keys for each required key.
Store the public keys securely.
Step 4: Obtain Previous Transaction details
(The input that needs to be consumed)
Access a full node or use services like BlockCypher or Mempool.space to find the previous transaction details associated with the tx.
Step 5: Generate a Signed Transaction (Offline)
Use an offline environment to run a script similar to the one available at https://github.com/bitcoinjs/bitcoinjs-lib/blob/master/test/integration/transactions.spec.ts#L452.
Input the individual private keys, public keys, previous transaction details, and transaction details.
Generate the signed transaction.
Step 6: Export and Broadcast the Signed Transaction
Export the signed transaction to a secure location, preferably on an offline computer or external storage device.
Move the signed transaction to an online computer.
Broadcast the signed transaction using a full node or services like BlockCypher or Mempool.space.
Verify the status of the transaction to ensure that the wallet recovery was successful.
Important Notes
Always perform these steps in an offline environment to protect your private keys.
Ensure the security of your mnemonic phrase, private keys, and signed transaction.
Double-check all transaction details to avoid mistakes.
Be cautious when using online tools, and preferably use open-source, trusted solutions.
At Liminal, we are committed to providing you with a seamless and user-centric staking experience.
If you have any questions or require assistance, please do not hesitate to reach out to our dedicated support team here: support@lmnl.app
Your success is our priority.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article