Hardware · Good news
I lost the device but I have the phrase: you have lost nothing
This is one of the few questions with a happy answer. The device doesn’t store your money: it stores a copy of your key, and you have another on paper. You buy another device — or use an app — type your words, and everything is back where it was.
What to do, in order
- Get a new device, bought from the manufacturer’s official site or an authorised reseller. Never second-hand.
- Set it up choosing the option to restore an existing wallet.
- Type your words on the device’s own screen, never on the computer or phone.
- Check your accounts and balance appear. If one is missing, add it by hand.
- Set a new PIN and store it properly.
The one real risk here
It isn’t the device: it is your phrase. If someone finds your lost Ledger or Trezor, they can do nothing without the PIN, and after a few attempts the device defends itself. But if your paper phrase was in the same bag or the same box as the device, then there is a problem.
And while you are at it, a review
This scare is a good moment to check two things: that your phrase is written down correctly — read it through and verify the words are valid — and that you don’t store it in the same place as the device. Separating the two is what turns a loss into an anecdote.