Forgot my private key in ether.li

Question

I've bought 50 ethers on btc direct 2 weeks ago. I've send it to my user account on ether.li. What was not the best choice. Because now I need the private key to withdraw it. I can't remember I had to choose one or that they gave me one. Is there a way to withdraw my balance without a private key? Or is there a way to recover my private key?

Answer 1

As ether.li is still a PoC (proof of concept) you would have to be careful and not store a big amount of ether in it.

However, the goal of ether.li is to be a multisig wallet, so that means that ether.li has one key and you own the two other.

When you create a wallet, you have the choice to create new keys or to provide existing ones that you generated with another Ethereum client like Geth.

Then when you choose to generate new keys, they display them and ask you to save them (these are a test account I created to create screenshots, don't try with them).

Of course if you didn't save at least on of them, you lost 50 ETH, that's all and there's absolutely no way to recover.

This is the way cryptocurrency works and this is why it's strong. Sorry.

Answer 2

I'm the creator of the wallet, I'd like to help out here however I can.

Losing access to your private key information does not mean that you lost funds. When you attempt to send from the wallet, you will be asked for a password. This password is all that you need to send a transaction.

The password is used to decrypt your private key and to sign the transaction in the browser.

If you do not have all of your key information, then I would recommend creating a new account, this time saving the key information, and transferring the funds into there.

Please feel free to reach out to me at anytime mason at ether.li

Thanks,

Mason