Bitcoin Emergency

Bitcoin Emergency Kit

Don't panic. Most Bitcoin emergencies have solutions. This guide walks you through common scenarios with immediate actions, recovery options, and how collaborative security can help prevent or resolve issues.

If you're a client of The Bitcoin Adviser, we're here to help. Our collaborative security model eliminates many single points of failure that cause Bitcoin emergencies.

⏳ Transaction Not Confirming

Transaction stuck in mempool or taking too long

🔐 Lost Key or Compromised Seed

Lost phone/device, can't access wallet, or suspect compromise

📱 Dedicated Lost iPhone Guide available

❌ Sent to Wrong Address

Accidentally sent Bitcoin to incorrect address

🏦 Exchange/Service Down

Can't access exchange or custodial wallet

⚠️ Possible Scam / Compromised Security

Think you've been scammed or phished

💰 Transaction Fee Too Low

Transaction stuck due to low fee rate

👨‍👩‍👧‍👦 Inheritance Emergency

Beneficiary needs to access inherited Bitcoin
Scenario 1

⏳ Transaction Not Confirming

Don't Panic! Most "stuck" transactions eventually confirm. Your Bitcoin is safe—it's just waiting in the mempool for a miner to include it in a block.

What's Happening?

Your transaction is in the mempool (waiting area) competing with other transactions for inclusion in a block. Miners prioritize transactions with higher fees. If your fee is competitive, the transaction will confirm when the mempool clears or when fees drop.

For TBA Clients: Transaction Tracking

We use tools like mempool.space to track transactions in real time. If you're concerned about a transaction status, we can help you understand what's happening and verify it's been broadcast correctly.

Learn how to track your Bitcoin transactions and understand mempool dynamics.

Immediate Actions

  1. Check transaction status: Look up your transaction ID (TXID) on a block explorer like mempool.space. This shows if it's been broadcast and its position in the mempool.
  2. Determine if it's really stuck: Transactions with fees above 1 sat/vB usually confirm within 24–48 hours. If your fee is competitive, just wait.
  3. Check current fee rates: View current mempool conditions to understand if your fee is appropriate for the current network state.

Options If Truly Stuck

Option A: Wait It Out

The mempool eventually clears. Your transaction will either confirm or be dropped (usually after 2 weeks), returning funds to your wallet. This is often the best option if you're not in a hurry.

Option B: Replace-By-Fee (RBF)

If you enabled RBF when sending, you can bump the fee. Check your wallet's "advanced" or "transaction details" options for a "Bump Fee" or "Increase Fee" button. Not all wallets support RBF.

Option C: Child-Pays-For-Parent (CPFP)

If you're the receiver, you can spend the unconfirmed transaction with a high fee to incentivize miners. They must confirm the parent (stuck) transaction to get the child's high fee.

⚠️

Important: Never share your private key or seed phrase with anyone claiming they can "unstuck" your transaction. This is always a scam.

Prevention

  • Always check current fee rates before sending using mempool.space or your wallet's fee estimator
  • Enable RBF (Replace-by-Fee) in your wallet settings for future flexibility
  • Time your transactions during weekends or low-activity periods for cheaper fees

Need help verifying a transaction?

If you're working with The Bitcoin Adviser and want assistance tracking or understanding a transaction, contact us or reach out to your adviser.

Learn About Transaction Tracking
Scenario 2

🔐 Lost Key or Compromised Seed Phrase

This is where collaborative security makes the difference. If you've lost access to your key or suspect your seed phrase has been compromised, your response depends on whether you're using single-signature or collaborative security.

For TBA Clients: Recovery Is Possible

With our 2-of-3 collaborative security setup, losing your key doesn't mean losing your Bitcoin. Here's how recovery works:

  1. Contact us immediately — We'll work with you and your vault provider (Theya or Unchained) to coordinate recovery
  2. Create a new key — You'll generate a new seed phrase and set up a new 2-of-3 multisig vault
  3. Transfer funds — Using The Bitcoin Adviser key and your vault provider's key, we'll transfer all funds from the old vault (where your key is lost/compromised) to your new secure vault
  4. Continue securely — Your Bitcoin is safe in the new vault, protected by the same collaborative security model

This process is exactly why we built collaborative security—to eliminate the single point of failure that makes lost keys catastrophic in single-signature wallets.

Learn more about collaborative security and how it protects against key loss.

If You Have Your Seed Phrase (Single-Sig)

You can recover! Download a reputable wallet (Sparrow, BlueWallet, Electrum), select "Restore from seed" or "Import wallet," and enter your 12 or 24 words in the correct order. Your Bitcoin will reappear once the wallet syncs.

💡

Remember: Your seed phrase IS your Bitcoin. This is why "Not your keys, not your coins" matters—and why backing up your seed phrase is critical.

Lost Phone with Mobile Key

If you've lost your iPhone (or Android) with a mobile key stored on it, don't panic. With collaborative security, losing your phone doesn't mean losing your Bitcoin.

📱 Comprehensive Guide Available

We have a dedicated, step-by-step guide for lost iPhone scenarios covering everything from immediate actions to recovery procedures. Read the complete Lost iPhone Emergency Guide for detailed instructions.

Quick Actions (First Hour)

  1. Lock your phone — Use Find My iPhone (app or iCloud.com/find) to mark as lost and erase if necessary
  2. Secure Apple ID — Change password, review trusted devices, sign out suspicious sessions
  3. Contact mobile carrier — Disable SIM, block SIM-swap attempts
  4. Change critical passwords — Email, password manager, banking apps
  5. Contact TBA if you're a client — We'll verify no unusual activity and help coordinate recovery

For TBA Clients with Multisig: Your Bitcoin Is Safe

With 2-of-3 collaborative security, losing your mobile key doesn't prevent access. You can continue using your hardware device and other keys. Once you have a replacement phone, we'll help you set up a new mobile key and update your vault configuration.

See the complete guide for detailed multisig recovery steps, or learn more about mobile keys.

For Single-Key Mobile Vault

If you backed up to iCloud Keychain, recovery is usually possible by signing in to the same Apple ID on a new device. The wallet app should detect and restore your mobile key automatically.

Important: Recovery requires iCloud Keychain backup being enabled and your Apple ID being accessible (which is why securing it with YubiKey is critical).

See the complete guide for detailed single-key recovery steps, or learn more about mobile keys and backups.

⚠️

For meaningful amounts, always use multisig. Single-key mobile vaults should be limited to smaller balances with proper backups. The complete guide covers all scenarios including stolen phones, high-risk situations, and replacement procedures.

If You DON'T Have Your Seed Phrase (Other Scenarios)

Critical information: Without your seed phrase (12/24 words) or private key, recovery may be impossible in single-signature setups. Bitcoin is designed this way for security.

For Custodial Wallets (Exchange, Cash App, etc.)

  • Contact customer support immediately
  • Go through account recovery process (email, 2FA, ID verification)
  • They control the keys, so they can help—but you're trusting them with your Bitcoin

For Other Self-Custody Wallets

  • If you have an encrypted backup file + password, you may recover
  • Some wallets save backups to cloud storage (check iCloud, Google Drive)
  • Check for paper backups in safe places
  • Professional recovery services exist but are expensive and not guaranteed
⚠️

Scam Warning: Anyone promising guaranteed recovery without your seed phrase is a scammer. No legitimate service can access your Bitcoin without your private keys.

If Your Seed Phrase Is Compromised

If you suspect someone has your seed phrase or private key, you need to move your Bitcoin immediately. In a single-sig wallet, this requires creating a new wallet and transferring funds before the attacker does.

For TBA Clients: Compromised Key Recovery

With collaborative security, a compromised client key doesn't mean your funds are lost. We can help you:

  • Create a new key and set up a new 2-of-3 vault immediately
  • Transfer all funds from the compromised vault using The Bitcoin Adviser key + Vault Provider key
  • Secure your Bitcoin before any unauthorized transaction can be attempted

Contact us immediately if you suspect compromise. We can coordinate emergency recovery procedures.

Prevention

  • Use collaborative security: 2-of-3 multisig eliminates single point of failure—even if you lose your mobile key, recovery is possible with other keys
  • Secure your Apple ID with YubiKey: Hardware authentication protects your iCloud account and mobile key backups. See our YubiKey guide for setup instructions.
  • Enable iCloud Keychain backup: Always backup mobile keys to iCloud Keychain for recovery options
  • Multiple key backups: Write seed phrases on metal, store in safe deposit box, consider geographic distribution
  • Test recovery: Practice restoring with small amounts first
  • Use strong passcodes: Avoid predictable passcodes and enable Face ID / Touch ID
  • Enable Stolen Device Protection: If using iOS 17.3+, this adds critical protection
  • Never share your seed phrase: Legitimate services never ask for it

For comprehensive lost iPhone guidance: See our Lost iPhone Emergency Guide which covers immediate actions, recovery procedures, stolen phone scenarios, replacement checklists, and security strengthening steps in detail.

TBA Client with lost or compromised key?

Contact us immediately. We'll coordinate recovery using your collaborative security setup.

Contact Support Learn About Collaborative Security
Scenario 3

❌ Sent to Wrong Address

Harsh reality: Bitcoin transactions are irreversible by design. Once confirmed, there is no "undo" button or customer service to reverse it. However, there may be options if the transaction hasn't confirmed yet.

Situation Assessment

First, check the transaction status on a block explorer like mempool.space. Has it confirmed yet?

  • Not confirmed (0 confirmations): There MAY be options. See below.
  • Confirmed (1+ confirmations): Transaction is final. See "If Transaction Confirmed" below.

If Not Yet Confirmed

Option A: Replace-By-Fee (RBF)

If you enabled RBF and the transaction hasn't confirmed, you MAY be able to replace it with a transaction sending to the correct address. This requires technical knowledge—consult your wallet documentation or a Bitcoin expert immediately. Time sensitive: Act within minutes. Once a transaction confirms, this option disappears.

Option B: Double-Spend (Advanced)

If RBF wasn't enabled and fees are very low, some wallets allow creating a competing transaction. Success is not guaranteed and requires technical expertise. Act immediately—once confirmed, this won't work.

If Transaction Confirmed

Outcomes depend on who controls the receiving address:

  • Sent to your own wrong address: If you control it (typo in your own address book), your Bitcoin is safe. Access that wallet to recover.
  • Sent to someone you know: Contact them and politely request they return it. This relies entirely on their honesty—they have no legal obligation to return it.
  • Sent to a stranger/random address: Funds are effectively lost. You can try contacting them if it's an exchange or known entity, but they have no obligation to return it.
  • Sent to invalid/non-existent address: Most wallets won't let you send to invalid addresses. If you somehow did, funds are lost forever.

For TBA Clients

Collaborative security doesn't prevent sending to wrong addresses, but it ensures you can always recover if you still have access to your collaborative security setup. If you've sent funds to the wrong address from your vault, we can help you understand what happened and verify the transaction details.

Remember: Always double-check addresses before authorizing transactions, especially for larger amounts.

💡

Learning experience: Bitcoin's irreversibility is a feature, not a bug. It prevents fraud and chargebacks. Moving forward, always double-check addresses, send small test transactions first, and use QR codes instead of typing addresses.

Prevention

  • Always double-check addresses before sending, especially for large amounts
  • Send small test transactions first when sending to a new address
  • Use QR codes instead of typing addresses
  • Save verified addresses in your wallet's address book
  • Be extra careful with large amounts—consider requiring multiple confirmations before finalizing
Scenario 4

🏦 Exchange/Service Down

First: Don't Panic. Temporary outages are common. Your funds are likely safe, just temporarily inaccessible.

Immediate Actions

  1. Verify the outage: Check multiple sources:
    • Exchange's official Twitter/X account
    • Status page (e.g., status.coinbase.com)
    • DownDetector.com
    • Reddit: r/Bitcoin, r/CryptoCurrency, exchange-specific subreddits
    If many users report issues, it's likely a temporary technical problem.
  2. Determine outage type:
    • Technical outage (common): Site down for maintenance, high traffic, or technical issues. Usually resolved in hours. Your funds are safe.
    • Security incident (rare but serious): Exchange pauses withdrawals due to suspected hack or security breach. Monitor official communications closely.
    • Insolvency/exit scam (very rare): Exchange suddenly disappears or announces bankruptcy (e.g., FTX, Mt. Gox). See below.
  3. Document everything: Take screenshots of your balance, transaction history, emails. This may be important if the issue escalates.

What You Can Do While Waiting

  • Contact support: File a support ticket (response may be slow during outages)
  • Be patient: Most outages resolve within 24 hours
  • Stay informed: Follow official channels for updates
  • Don't make rash decisions: Avoid panic selling when access returns

If Exchange Fails/Goes Bankrupt

⚠️

Critical situation: If an exchange becomes insolvent, recovery is uncertain and may take years through bankruptcy proceedings.

  • File a claim in the bankruptcy case (monitor official announcements)
  • Join creditor groups for collective action
  • Report to authorities (SEC, FBI IC3 in US)
  • Consult a lawyer specializing in crypto cases
  • Set realistic expectations—full recovery is rare

Prevent This with Collaborative Security

"Not your keys, not your coins." Exchanges are custodians, not banks. For long-term holdings, move Bitcoin to a wallet where YOU control the private keys.

Our collaborative security model eliminates this risk entirely. With 2-of-3 multisig, your Bitcoin is on the blockchain under your control—not on an exchange vulnerable to hacks, regulatory seizure, or operational failures. Even if The Bitcoin Adviser or your vault provider has issues, you can still access your Bitcoin using the remaining keys.

Learn how collaborative security protects against exchange risk and gives you true ownership of your Bitcoin.

Prevention

  • Self-custody: Only keep on exchanges what you're actively trading
  • Use reputable exchanges: Stick to well-established, regulated platforms (but remember, even reputable exchanges can fail)
  • Diversify: Don't keep all funds on a single platform
  • Regular withdrawals: Move long-term holdings to your own wallet
  • Use collaborative security: Protect your Bitcoin with 2-of-3 multisig—no single point of failure

Want to move off exchanges?

If you're ready to eliminate exchange risk and secure your Bitcoin with collaborative security, we can help.

Learn About Collaborative Security Contact Us
Scenario 5

⚠️ Possible Scam / Compromised Security

Act quickly, but carefully. If you've been scammed or suspect your security is compromised, immediate action may limit damage. However, it's also important not to rush—making mistakes during emergency recovery can compound the problem. Take deliberate, methodical steps.

Immediate Actions

  1. Stop all contact with scammer: Cease all communication immediately. Block phone numbers, emails, social media accounts. Do not engage further.
  2. Assess what information was compromised:
    • If you shared your seed phrase or private keys: Your Bitcoin is at immediate risk! See below.
    • If you sent Bitcoin to scammer: Transaction is likely irreversible. See "Sent to Wrong Address" section.
    • If you gave personal info (but not keys): Change passwords, enable 2FA, monitor for identity theft.
🚨

CRITICAL: If you shared your seed phrase or private keys

You need to act quickly, but carefully. If you're using a single-signature wallet, create a NEW wallet (different seed phrase) and transfer ALL Bitcoin from the compromised wallet to the new wallet. Double-check addresses before sending—rushing and sending to the wrong address would be catastrophic.

For TBA Clients: Compromised Key Protection

With 2-of-3 collaborative security, a compromised client key doesn't mean your funds are lost. Here's how we protect you:

  1. Contact us immediately — We can coordinate emergency recovery
  2. Create new key — Set up a new 2-of-3 multisig vault with a fresh seed phrase
  3. Transfer funds — Using The Bitcoin Adviser key + Vault Provider key, we'll move all funds to your new secure vault before any unauthorized transaction can be attempted
  4. Secure your Bitcoin — Your funds are safe in the new vault, protected by collaborative security

This is a key advantage of collaborative security—even if your key is compromised, attackers can't move funds without The Bitcoin Adviser or Vault Provider keys, giving us time to recover.

Contact us immediately if you suspect your key or seed phrase has been compromised.

Document Everything

Gather all evidence:

  • Screenshots of conversations
  • Transaction IDs (TXID)
  • Scammer's wallet addresses
  • Website URLs, social media profiles
  • Emails, text messages
  • Any promises or claims made

Report to Authorities

Warn Others

Help prevent others from falling victim:

  • Report scammer's accounts (Twitter, Telegram, etc.)
  • Share experience on r/Bitcoin, r/Scams (without doxxing yourself)
  • Report fake websites to Google Safe Browsing
  • Warn friends/family if it was a social media scam

Prevention

  • Never share seed phrases or private keys — Legitimate services never ask
  • No guaranteed returns — If it sounds too good to be true, it is
  • Verify before sending — Double-check addresses, URLs, identities
  • Be skeptical of urgency — Scammers create time pressure
  • Use collaborative security — 2-of-3 multisig provides additional protection even if your key is compromised

TBA Client with compromised security?

Contact us immediately. We can coordinate emergency recovery to protect your Bitcoin.

Emergency Contact Security Model
Scenario 6

💰 Transaction Fee Too Low

Good news: Low-fee transactions usually confirm eventually. You have several options to speed things up.

Your Options

Option 1: Wait It Out (Recommended if Not Urgent)

Timeline: Low-fee transactions typically confirm within 24–72 hours when mempool clears (weekends, low activity periods).

Pros: Free, no technical knowledge required, usually works

Cons: Unpredictable timing, could take up to 2 weeks in extreme cases

Tip: Check mempool.space to see if fees are trending down. Your transaction will confirm when fee market cools.

Option 2: Replace-By-Fee (RBF)

When available: If you enabled RBF when sending (check transaction details)

How it works:

  1. Go to your wallet's transaction history
  2. Find the unconfirmed transaction
  3. Look for "Bump Fee," "Increase Fee," or "RBF" option
  4. Select new higher fee rate
  5. Broadcast replacement transaction

Cost: You pay the difference between original and new fee

Note: Not all wallets support RBF. Popular wallets that do: Electrum, Sparrow, BlueWallet (advanced mode).

Option 3: Child-Pays-For-Parent (CPFP)

Who can use: The recipient of the stuck transaction

How it works: Recipient spends the unconfirmed Bitcoin in a new transaction with a high fee. Miners must confirm parent (stuck) transaction to get child's high fee. Both transactions confirm together.

When to use: If you're receiving payment and need it confirmed urgently, or if sender doesn't have RBF enabled.

Option 4: Transaction Accelerators (Last Resort)

What they are: Mining pools that prioritize your transaction for a fee

  • ViaBTC: Free accelerator (limited slots, resets hourly)
  • BTC.com: Paid acceleration service
  • Mempool Accelerator: Auction-based acceleration

Caution: Many "accelerator" services are scams. Only use well-known mining pools. Never pay upfront to individuals claiming they can accelerate transactions.

For TBA Clients

We can help you understand your transaction status and fee options. Use our transaction tracking guide to check where your transaction sits in the mempool and determine the best course of action.

Prevention

  • Check fee estimates: Use mempool.space or your wallet's fee estimator before sending
  • Enable RBF by default: Gives you flexibility if fees spike
  • Don't cheap out on important transactions: The few extra sats are worth peace of mind
  • Time your transactions: Send during weekends or low-activity hours for cheaper fees

Need help understanding fees?

Check our transaction tracking guide to see how to monitor mempool conditions and fee rates.

Transaction Tracking Guide
Scenario 7

👨‍👩‍👧‍👦 Inheritance Emergency

For beneficiaries: If you've inherited Bitcoin and need to access it, the process depends on how the Bitcoin was stored. This is where collaborative security truly shines.

For TBA Clients: Simple Recovery Process

If the deceased was a TBA client, recovery is straightforward:

  1. Contact us — Simply pick up the phone or email. Our team is here to help.
  2. Provide documentation — We'll work with the executor of the estate to verify identity and legal authority
  3. Access funds — We collaborate with the executor and vault provider (Theya or Unchained) to recover and transfer the Bitcoin
  4. Education and support — We'll guide you through the process and ensure you understand how to securely manage the Bitcoin going forward

During setup, every TBA client receives an Estate Plan Protocol document that accompanies their will. This document provides explicit instructions on where the Bitcoin is stored, how it's secured, and what steps to follow. This ensures that even in the absence of the client, their Bitcoin can be accessed and managed effectively, reducing stress for grieving loved ones.

Learn more about our estate planning approach and how we ensure Bitcoin can be inherited securely.

If Bitcoin Was in Single-Signature Wallet

⚠️

Critical situation: If the Bitcoin owner used a single-signature wallet and you don't have the seed phrase or private key, recovery may be impossible. Bitcoin is designed this way for security.

Your options are limited:

  • If you have the seed phrase: You can restore the wallet using the 12 or 24 words. Download a reputable wallet (Sparrow, BlueWallet, Electrum), select "Restore from seed," and enter the words in order.
  • If you have the hardware wallet + PIN: You may be able to access the funds, but you'll need to understand how to use the device.
  • If you don't have keys or seed phrase: The Bitcoin is effectively lost. Professional recovery services may help if there are encrypted backups, but success is not guaranteed and can be expensive.

If Bitcoin Was on an Exchange

Contact the exchange's support immediately. You'll need:

  • Death certificate
  • Will or probate documents naming you as beneficiary
  • Proof of identity
  • Executor documents if applicable

The process can take weeks or months, and some exchanges have specific inheritance procedures. There's also the risk that the exchange may have failed or frozen the account.

💡

This is why collaborative security matters: With 2-of-3 multisig and a documented Estate Plan Protocol, beneficiaries can access Bitcoin with professional support, even if they have no technical knowledge. The Bitcoin Adviser acts as a trusted guide during a difficult time.

What Information You Need

To help us assist you, please have ready:

  • Death certificate
  • Will or probate documents
  • Proof of your identity
  • Executor documents (if applicable)
  • Estate Plan Protocol document (if the deceased was a TBA client)
  • Any Bitcoin-related documents (wallet addresses, exchange account info, etc.)

Prevention (For Bitcoin Owners)

If you own Bitcoin and want to ensure your beneficiaries can access it:

  • Use collaborative security: 2-of-3 multisig with documented Estate Plan Protocol
  • Create an Estate Plan Protocol: Document where Bitcoin is stored, how to access it, and who to contact
  • Educate your beneficiaries: Ensure they know you use collaborative security and where to find the Estate Plan Protocol
  • Store documents safely: Keep Estate Plan Protocol with your will and estate documents
  • Update regularly: Review and update your estate plan as your Bitcoin holdings or circumstances change

Beneficiary needing to access inherited Bitcoin?

If the deceased was a TBA client, contact us immediately. We're here to guide you through the process with compassion and expertise.

Contact Support Find Your Adviser Estate Planning Info
Resources

Additional Resources & Support

These resources can help you understand Bitcoin security, prevent emergencies, and access support when needed.

The Bitcoin Adviser Resources

External Tools & Resources

💬

Remember: Most Bitcoin "emergencies" feel worse than they are. Stay calm, research carefully, and never make hasty decisions under pressure. When in doubt, ask for help—we're here to support you.

Need Immediate Assistance?

If you're a TBA client facing an emergency, don't hesitate to reach out. We're here to help you navigate any situation with confidence.

Contact Support Find Your Adviser