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First Response & Preservation Operational Explainer

What should I do with a cryptocurrency hardware wallet?

Preserve the wallet, its live state and any recovery material, and obtain specialist support before entering credentials, approving an action or attempting to move assets.

The device controls keys, not coins stored inside it

Cryptocurrency balances and transfers are recorded on a blockchain. A hardware wallet protects private keys or signing capability used to control addresses. Its screen, companion application, PIN, passphrase and recovery seed can therefore be evidentially and financially significant even though the assets are not physically held on the device.

Photograph the wallet as found, including its display, buttons, model, serial number, power and connection state. Record nearby computers, phones, cables, packaging and notes. Do not connect it, update firmware, enter a PIN or approve a transaction; failed attempts or device actions may lock, reset or wipe it.

Recovery material requires separate protection

Seed words, recovery cards, passphrases and metal backups may enable control without the wallet. Preserve them as highly sensitive evidence and avoid copying them into personal notes, ordinary photographs or networked systems. If the wallet is connected and unlocked, document the host, application, account, network state and pending actions while urgent specialist advice is obtained.

Asset restraint or transfer requires its own lawful authority and risk assessment. Possession of the device or seed does not by itself establish beneficial ownership or responsibility for transactions.

Key takeaway

Preserve the wallet and credentials without interacting with them, keeping evidential handling, asset protection and attribution as separate specialist questions.

Reference: FRP-155First Response & Preservation