Educational content, not investment advice. Crypto-asset values fluctuate.

Modulis 2 Β· Security and practice
5/8

What to do if... β€” a troubleshooting guide

This lesson turns you into a cool-headed operator

For every commonly occurring situation there's a clear action plan. Once you've read this guide, in a crisis you'll have a checklist instead of panic β€” you just follow the steps. Read it calmly now, use it when you need it.

πŸ”‘ I lost or don't have my seed phrase

Is the wallet still working (on your phone/browser)?

YES β€” you can still recover:

  1. IMMEDIATELY move all your tokens to a NEW wallet with a NEW seed phrase
  2. Create a new Jupiter Wallet (Solana) or MetaMask (Ethereum) wallet β†’ write down the 12 words
  3. Send all your crypto from the old wallet to the new one
  4. Once everything's moved β€” write down the new seed phrase on paper
  5. The old wallet can stay empty

NO β€” you've lost access:

Master these 4 habits and your seed phrase will never go missing

  • Write the seed phrase down ON PAPER (not on your phone, not in the cloud)
  • Keep it somewhere safe (a safe, or with someone you trust)
  • Make 2 copies in different places
  • NEVER photograph it or save it in digital form

❌ I sent crypto to the wrong address

SOL sent to an Ethereum address (or vice versa)

Sent on the wrong network (e.g., ETH via BSC)

Sent to the wrong person / address

⏳ My transaction has been "pending" for an hour

Solana (rarely happens)

Solana transactions confirm within 1-2 seconds. If it's "pending" longer than that:

Ethereum (happens more often)

🏦 My bank is blocking a transfer to a crypto exchange

Why does it block it?

Some Lithuanian banks automatically block transfers to crypto exchanges' IBANs as "risky":

What to do

  1. Call your bank β€” explain that you're transferring to a licensed crypto platform
  2. Give the exact name: "Nexo β€” an EU-regulated platform", "Kraken β€” a US-regulated platform"
  3. If they refuse:
    • Revolut almost never blocks crypto transfers
    • N26 is friendly too
    • Paysera supports crypto transfers
  4. Buying crypto is legal β€” but under AML procedures the bank may temporarily hold the transfer and ask for an explanation. Usually the transfer goes through once you've explained

Banks that block most often

Rarely blocks: Revolut, N26, Paysera

Sometimes blocks: SEB, Swedbank

Blocks more often: Luminor, smaller banks

This can change β€” banks constantly update their policies. (This reflects Lithuanian banks specifically β€” if you bank elsewhere, check your own bank's policy on crypto transfers.)

πŸ” I forgot my Nexo/Kraken password

Nexo

  1. On the login page, click "Forgot password"
  2. Enter your registration email β†’ you'll get a link to reset your password
  3. Create a new password β†’ log in
  4. If you don't have access to that email β€” contact Nexo support (can take 1-7 days)

Kraken

  1. "Forgot password" β†’ email + 2FA code
  2. If you lost your 2FA (phone gone) β€” contact support with ID documents
  3. Kraken Master Key (if you set it up at registration) can help you recover

Prevention

  • Use a password manager (Bitwarden, 1Password)
  • Save your 2FA backup codes at registration (not just on your phone)
  • Kraken Master Key β€” always set it up and store it like a seed phrase

πŸ’Έ Not enough SOL/ETH for gas fees

The problem

You have $5,000 USDC in Kamino, but 0 SOL in your wallet. You can't withdraw because you need SOL for gas.

Solution (Solana)

  1. Nexo/Kraken: buy 0.1 SOL (~$15) and send it to Jupiter Wallet
  2. Jupiter: if you hold any Solana token, swap a small part of it for SOL
  3. A friend: ask them to send 0.05 SOL (if you trust them)
  4. Prevention: always keep at least 0.05 SOL in your wallet as a gas buffer

Solution (Ethereum)

  1. Buy ETH via Kraken/Nexo and send it to MetaMask
  2. Minimum: 0.01 ETH (~$25-30) β€” a mainnet operation now costs cents (a transfer ~$0.01, a DeFi operation ~$0.03-0.30), so a reserve like that will last a long time. Fees rise temporarily during congestion β€” check etherscan.io/gastracker before a bigger operation
  3. Arbitrum: if your positions are on Arbitrum, fees are even lower (<$0.01-0.05) and stay steady even when mainnet is congested

πŸ“§ I got an email "from Nexo/Jupiter/Deribit"

You'll spot it instantly β€” 99% chance it's phishing (a fake link or site)

Rules for checking:

  1. Never click links in emails about "security issues" or "account blocked"
  2. Check the sender's address: the real Nexo sender is @nexo.com, not @nexo-security.com
  3. Go straight to the website: open your browser and type nexo.com manually
  4. If it urges you to act quickly β€” that's almost always a scam
  5. Jupiter Wallet/MetaMask never send emails β€” they don't have your email address

πŸ“± Phone stolen / lost

If you had Jupiter Wallet / MetaMask on your phone

  1. Do you have the seed phrase? β†’ Install the wallet on a new phone β†’ restore with the seed phrase β†’ for safety, move the funds to a NEW wallet with a new seed phrase (the old key was on the stolen phone)
  2. No seed phrase? β†’ If the wallet only existed on the phone and you don't have the seed β€” the funds are lost

If you had Nexo / Kraken on your phone

  1. Don't worry β€” a CEX account is protected by a password and 2FA
  2. Log in on your new phone with your email/password
  3. Remotely wipe the old phone (Find My iPhone / Find My Device)
  4. Change your password from the new phone

Summary β€” prevention checklist

RiskPreventionIf it already happened
Seed phrase lost2 paper copiesMove tokens while the wallet still works
Wrong addressTEST with a small amountLost (usually)
Pending transactionUse the recommended gasSpeed up via MetaMask
Bank blockingRevolut as a backupCall the bank
Forgotten passwordPassword manager"Forgot password"
No gasKeep a 0.05 SOL / 0.01 ETH bufferBuy some via a CEX
PhishingNever click linksDon't change your password via a link
Phone lostSeed phrase on paperRestore on a new phone

Keeping this table in mind, you can face any of these situations calmly β€” you know both how to avoid them and what to do if they happen anyway.

Quick check
You have a wallet but lost your seed phrase β€” the wallet still works on your phone. What should you do FIRST?
Practice task
0 / 5
Write your own personal 'what if' plan

In a crisis, panic does the thinking β€” not you. A plan written calmly now can be worth thousands during a crisis. Takes about 15 minutes.

Never write the seed phrase itself, passwords, or 2FA codes in the plan β€” only actions and links.

This is learning, not investing β€” use only small amounts you treat as tuition.

You just put together your own personal crisis plan β€” something most crypto users never do, leaving them to rely on panic in a crisis.

Token approvals and revokingWhy futures are dangerous