Losing access to your wallet as well as your seed phrase can be a frustrating experience, as it may mean losing access to all your digital assets, especially your tokenized shares.
Although recovering the seed phrase itself is impossible, Aktionariat provides a decentralized recovery mechanism to move share tokens from the lost address to a new address.
If you find these steps challenging, we are happy to provide an assistance service for an additional cost where one of our experts will guide you personally through the entire process.
Please follow the steps below and keep in mind:
You need to know your old Wallet address. If you don’t have it written down, the issuer may be able to help you identify their address after the ID check.
If you have multiple positions (assets) on the same address, a recovery process must be initiated for each one of them separately.
This process can't be used to recover tokens if your recovery phrase was stolen, as the thief can potentially control your address to also delete your claim and seize your collateral.
Make sure you back up the seed phrase of the new wallet address that you will define as the receiver address during the recovery. Store your seed phrase in a safe place you will remember.
Step 1. Contact the issuer
Contact the company whose shares you hold informing them that you have lost your shares. The company should verify your identity and contact us for the next steps. Once we received the confirmation from the issuer you can proceed with the next steps of the recovery process.
Step 2. Create a new Wallet
Follow the instructions described in this documentation. Make sure that you back up your new Wallet and write down your seed phrase.
Step 3. Fund your Wallet
3.1. Fund your Wallet to provide collateral
You will need to provide collateral to proceed with the recovery mechanism.
The company will determine the collateral type and value once the ID check is completed and inform you about the required amount.
If the collateral is XCHF, you should fund your wallet with XCHF as per the instructions below:
In the Aktionariat Portfolio app, switch to the "Portfolio" tab and tap on the CryptoFranc (XCHF) there.
After that, tap on (Buy/Sell) in the upper left corner. Select your new Address. You will be redirected to the browser.
If the collateral is share tokens, you should buy shares in the specified amount through the Brokerbot.
3.2. Fund your Wallet to pay transaction fees
You will need to have ETH in your new Wallet to cover a transaction fee. Ether (ETH) is a native token that facilitates operations on the Ethereum network.
As transaction fees on Ethereum fluctuate a lot, you can calculate the estimated transaction fee with the formula:
Ethereum:
Transaction Fee = Gas Price * Gas Limit
Where:
Gas Price: The amount of ETH you’re willing to pay per unit of gas. It’s typically denoted in Gwei (1 Ether = 1’000’000’000 Gwei). You can check the current Gwei here. For estimation you can check the average Gwei.
Gas limit. The maximum amount of gas you’re willing to spend on a transaction (the Gas limit is 166’461 for a declareLost transfer).
For example:
Transaction Fee = 43/1’000’000’000 * 166’461 = 0.007157823 ETH
As prices change minute by minute, our best advice is to buy 20% more ETH in addition.
Optimism:
We recommend buying XCHF 5 to cover the transaction fees on Optimism.
Once you know the estimated transaction fee, please follow the steps below:
In the Aktionariat Portfolio app, switch to the "Portfolio" tab and tap on the Ether (ETH) there.
After that, tap on (Buy/Sell) in the upper left corner. Select your new Address. You will be redirected to the browser.
As soon as you have funded your Wallet, you can follow the next steps.
Step 4. Declare Lost Process
Open the Recovery Widget. We recommend proceeding on the desktop for your convenience.
Read the provided instructions there and click on “Start”.
4.1. Provide your lost wallet address
Image 1. Provide the address of your lost wallet
4.2. Select the token you would like to recover and click on “Proceed”
Image 2. Choose the token you would like to recover
You will be asked to connect your new wallet:
Open your Aktionariat Portfolio App.
Switch to the “Connect” tab.
Click on “Scan QR Code” and scan the QR code you see on the screen.
Choose the correct wallet address.
Confirm the connection on your phone.
Image 3. Connect to a new Wallet
Image 4. Confirm the access
4.3. Declare lost
On the screen, you will see the claim status of your selected token and lost wallet address.
You would need to choose your collateral. Choose the asset of your collateral in the dropdown menu based on the information you received during step 2.1.
Click on “Declare Lost”.
Your lost declaration will be successfully made. The recovery process will take 6 months. Afterward, you will be able to claim your shares back.
Image 5. Claim Status
Image 6. Confirmation message
Step 5. Claim shares back
To claim your shares back after the waiting period (usually 6 months):
Open the widget.
Provide your lost Wallet Address.
Connect your new Wallet Address.
Click on "Recover Now" on the right side of your screen.
You will need to have ETH in your new Wallet to cover a transaction fee. If the network is Ethereum, you can calculate the estimated transaction fee with the formula:
Ethereum:
Transaction Fee = Gas Price * Gas Limit
Where:
Gas Price: The amount of ETH you’re willing to pay per unit of gas. It’s typically denoted in Gwei (1 Ether = 1’000’000’000 Gwei). You can check the current average Gwei here.
Gas limit. The maximum amount of gas you’re willing to spend on a transaction (the Gas limit is 60’224 for a claimshares transfer).
For example:
Transaction Fee = 43/1’000’000’000 * 60’224 = 0.002589632 ETH
As prices change minute by minute, our best advice is to buy 20% more ETH in addition.
Optimism:
We recommend buying XCHF 5 to cover the transaction fee on Optimism.
Please follow instructions described here to fund up your wallet.
Your shares and collateral will now be transferred to your new wallet.
