IOTA (IOT) - GUI Wallet: Phase Two of the Reclaim process
Two weeks ago we released an update to our GUI wallet so that users could begin with the reclaim process. The reclaim process was necessary for all users whose tokens were moved to an IOTA Foundation owned address as part of precautionary measures.
Today, we are releasing a new wallet containing the functionality for the second phase of reclaim process. As part of this process, you’ll publish a PGP encrypted message containing your old seed to the tangle which we’ll then use to verify & send you your tokens.
If your tokens were moved to the IF as part of one of the following events, you are eligible for recovery:
- Transition Phase
- Kerl Key Reuse
- Oct 23 Bugfix
We will start processing reveals on 13.11.2017. After this date has passed and we have processed all reveal claims, we will start processing reveals on a first-come-first-serve basis. The reason for this further delay is that we know that some users’ seeds were compromised and as there’s no link between proofs and seeds, we first need to collect all reveals to filter out duplicates where we might have to follow up with separate reclaim procedures.
Download GUI Wallet with complete IOTAs Reclaim tool
The Reclaim Process in detail
During the proof phase, users publish a cryptographic proof of ownership for their recoverable IOTAs as a transaction on tangle. Ownership of the old seed and its associated addresses, is only considered to have been established upon confirmation of the proof transaction.
It is important to note that only Kerl hashes are published and old seeds cannot be derived from proof transactions.
However, old seeds must not be used again for receiving tokens as soon as they’ve been revealed. As such, please ensure that you moved all your funds from your old seed, before using the Reclaim tool.
The new seed is used to generate an address (at index: 0), to which reclaimed tokens will be sent. If you have completed the proof phase of reclaim tool, you were able to view this address, which is also shown after completing the reveal phase. You should not spend from this address until you have received all your tokens.
Finally, please note that it is of utmost importance to always keep both your seeds safe.
The reveal phase can only be accessed if the wallet was able to find a confirmed proof transaction. Here, users are prompted to publish an encrypted payload containing their old seed to the tangle. In order to ensure that the reveal transaction will succeed, please wait for confirmation and make use of the “re-attach” button, if needed.
We use PGP for encrypting the old seed. Therefore, old seeds are accessible by the IOTA Foundation, who is the sole owner of the PGP private key.
The new seed is only used for client side computation of the new address, where users will receive their reclaimed tokens, and never leaves the user’s computer.