Cypherock
Cypherock is the maker of the Cypherock X1, a hardware wallet that splits its key with Shamir Secret Sharing across one USB-C device and four NFC cards instead of one written seed phrase.
What Is Cypherock?
Cypherock is the brand of HODL Tech Private Limited; its privacy policy gives a head office in Singapore, and the team is based in India. Its main product is the Cypherock X1, a hardware wallet designed so that the backup does not depend on a single written seed phrase.
The X1 consists of the X1 Vault, a USB-C device with a small OLED screen and a joystick, and four NFC X1 Cards. The key is split 2-of-5 with Shamir Secret Sharing: one share stays on the Vault and one on each card. For every signature the full key is rebuilt inside the Vault.
Any two of the five parts restore the wallet: the Vault plus one card, or two cards on a replacement Vault. A forgotten PIN is different. It cannot be recovered without Cypherock Cover, a paid opt-in service.
The X1 signs only through the cySync desktop app on Windows, macOS and Linux; the mobile app cannot connect to the device. cySync sends analytics by default, with an opt-out in Settings. The Vault's application firmware and cySync are public, while the bootloader and the card applet are closed. The rebuilt key briefly sits in the Vault's general-purpose microcontroller, and the USB link is not encrypted. Keylabs audited the Vault in 2022.
HODL is cryptocurrency slang for holding assets long-term despite price volatility, rather than selling. It originated from a 2013 forum post misspelling 'hold' as 'I AM HODLING.'
A hardware wallet is a dedicated device that keeps private keys offline and signs transactions internally, so the keys never reach an internet-connected computer or phone.
A backup in cryptocurrency is a secure copy of a wallet's seed phrase or private keys. It enables recovery of funds if the original wallet is lost or damaged.
Read full definition: BackupA mnemonic phrase is a set of words that stores a cryptocurrency wallet's private keys, allowing users to recover access if lost.
Read full definition: Mnemonic PhraseNFC Connectivity in cryptocurrency enables contactless transactions using near-field communication, allowing users to sign or authorize actions by tapping their device to a reader.
Read full definition: NFC ConnectivityShamir Secret Sharing (SSS) divides a secret, like a crypto wallet seed, into multiple shares. A threshold number of shares reconstructs it, enhancing security as in SLIP-39 backups.
Read full definition: Shamir Secret SharingPIN Protection is a security feature that requires a personal identification number (PIN) to access a cryptocurrency wallet or device, preventing unauthorized access.
Read full definition: PIN ProtectionFirmware is the software that runs on a hardware wallet itself: it generates keys, shows transaction details on the screen and signs.
Read full definition: FirmwareA bootloader is a small program that initializes hardware and loads the main operating system or firmware on a device, often used in blockchain hardware wallets for secure startup.
Read full definition: BootloaderReal-World Examples
Example 1: An owner keeps the X1 Vault at home and the four cards in different places. A fire destroys the Vault and one card; two of the remaining cards and a replacement Vault restore the wallet.
Example 2: A single X1 Card is found by a stranger. One share out of five is below the threshold of two, so on its own it does not give access to the key.
Example 3: A user who wants to approve transactions from a phone finds that the Cypherock X1 cannot: signing requires the cySync app on a computer.
Cypherock hardware wallets
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Frequently Asked Questions
What happens if one Cypherock X1 Card is lost or found by a stranger?
A single card holds one share out of five, below the threshold of two, so on its own it does not give access to the key. The wallet can still be restored from any two of the five parts: the X1 Vault plus one card, or two cards on a replacement Vault.
Can a forgotten PIN on the Cypherock X1 be recovered?
Not by default. A forgotten PIN is different from a lost part: it cannot be recovered without Cypherock Cover, a paid opt-in service. Without that service, the PIN needs the same care as the cards, which should be kept in different places so that one event does not take out two parts.
Can I sign transactions with the Cypherock X1 from my phone?
No. The X1 signs only through the cySync desktop app on Windows, macOS and Linux; the mobile app cannot connect to the device. Note also that cySync sends analytics by default, with an opt-out in Settings.
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