Hyperliquid Wallet Recovery: OneKey Backup & Restore Guide

Jan 26, 2026

What You’re Actually Recovering (And What You’re Not)

Before talking about restore steps, it helps to name the “things” involved:

1) Your main wallet (the key that controls funds)

Most DeFi-style onboarding uses an EVM wallet (a standard 0x address). In this model:

Your seed phrase (mnemonic) or private key is the root secret.
Your funds and positions are on-chain (or recorded by the protocol), so losing a device does not erase assets.
Recovery = restoring the same wallet keys on a new device/wallet app.

The platform’s official onboarding flow explicitly reminds users that the wallet has a “secret recovery phrase” and that anyone with it can access funds, and it shows the signing steps for enabling trading and depositing collateral. See the official onboarding guide here: official onboarding guide

2) An email-based wallet (if you used “log in with email”)

Some users start with an email login and later realize they want stronger key control. In that case, the platform provides a way to export the wallet’s private key—this is critical for long-term recoverability and moving to stronger custody.

If you used email login, your recovery path may depend on maintaining access to that email account, plus exporting and safely storing the private key.
The platform’s docs describe how to export the email wallet private key from settings. Reference: email wallet export instructions

3) API / agent keys (for trading automation)

If you use bots or third-party terminals, you may generate API credentials/agent keys. Treat these as powerful operational secrets (often used to authorize trading actions). They are usually rotatable, but they should never be stored casually.

If you’re managing automation, review the platform’s API area directly: API page

The Non-Negotiables of Backup: Seed Phrase vs Private Key

Most recovery failures happen because users confuse what needs to be backed up.

Seed phrase (mnemonic): best for long-term recovery

A seed phrase (typically 12 or 24 words) deterministically generates your wallet keys. This standard is widely documented (BIP-39): BIP-39 specification

If you have the seed phrase, you can usually restore everything.
If someone else gets it, they can restore everything too.

Private key: works, but is easier to mishandle

A private key can restore a single account/address, but it’s more fragile operationally (easy to copy/paste, easy to leak, harder to manage multiple accounts).

For email-based onboarding, exporting a private key may be the only way to migrate into a stronger custody model—so treat that export as a major security event.

Backup Checklist (Do This Before You Need Recovery)

1) Write the backup offline, verify it once

Write the seed phrase clearly on paper (or a metal backup).
Verify it by performing a test restore on a clean device flow (many people skip this and discover mistakes when it’s too late).
Never store it in:
- screenshots / photo albums
- notes apps
- cloud drives
- email drafts
- chat apps

2) Keep it private, but not “lost-proof”

A practical model is two physical copies stored in separate secure places (e.g., home safe + bank safe deposit box). Avoid “one copy only” unless your loss risk is truly low.

3) Consider a passphrase only if you can operationally support it

Many wallet systems support an optional BIP-39 passphrase (sometimes called a “25th word”). It can meaningfully improve security, but it also increases the chance you lock yourself out if you forget it.

If you use a passphrase:

store it separately from the seed phrase
use a process you can repeat correctly under stress

OneKey Restore Flow (Practical Step-by-Step)

A hardware wallet changes the risk model by keeping keys offline and requiring physical confirmation for sensitive actions. Recovery still depends on your backup, but the day-to-day exposure surface is typically smaller.

Step 1: Prepare a clean recovery environment

Use a private room and a trusted computer.
Disconnect screen sharing / remote access tools.
Don’t type seed words into websites, forms, or “support chats.”

Step 2: Initialize the new device in “Restore” mode

On a new (or wiped) device:

Choose Restore / Recover wallet
Enter the seed phrase on the hardware device (not on a computer keyboard if you can avoid it)
Set a strong PIN

Tip: After restore, you should be able to reproduce the same public address(es) you used before. If addresses don’t match, stop and reassess—one word may be wrong, or a passphrase may be missing.

Step 3: Reconnect your wallet interface (App / Extension)

Most users interact through a wallet interface (browser extension or desktop/mobile app) that connects to the hardware device.

Pair the device
Add the restored account
Confirm the receiving address matches your historical address

Step 4: Run a small “proof-of-control” test

Before moving size:

sign a harmless message if required by a dApp connection
send a tiny transfer (if applicable) to confirm you can sign and broadcast transactions normally

Reconnecting After Recovery: What to Expect

Trading enablement and deposits

For many users, the first “it worked” moment is when they can reconnect and see balances/positions again. The platform’s onboarding guide shows:

connecting with a DeFi wallet
signing an “Enable Trading” action (described as gas-less)
depositing collateral (for USDC deposits, you’ll confirm a normal on-chain transaction)
notes about withdrawals and fees

Reference: official onboarding guide

Bridging considerations (collateral location matters)

If you’re restoring onto a fresh wallet interface, you may also be re-establishing your funding rails. The platform’s docs reference bridging routes and specifically mention Arbitrum as the native bridge path in the onboarding section.

A commonly used official route is: Arbitrum Bridge

If your original onboarding was email-based and you now want hardware-grade custody, the safest plan is:

1) Regain access to the email account first

Email security becomes “Layer 0”:

change your email password
remove unknown forwarding rules
enable strong 2FA (preferably security key–based, if available)
review active sessions and log out unknown devices

2) Export the email wallet private key (once) and treat it like a seed phrase

Follow the platform’s documented steps: email wallet export instructions

When you export:

do it on a clean machine
avoid copying it into cloud notes
do not paste it into random “import helpers”

3) Import → move funds → retire the hot key

After importing that private key into a wallet interface, the best practice is typically to move assets to the new hardware-controlled address and stop using the exported key for daily operations.

Recovery Threats in 2025–2026: What Changed (And Why It Matters)

Wallet recovery is now one of the most targeted moments in a user’s lifecycle. Two recent trends are worth highlighting:

1) AI-powered impersonation and industrialized scams

Chainalysis estimates $17B was stolen in crypto scams and fraud in 2025, with major growth in impersonation tactics and AI enablement. This matters because attackers often focus on recovery moments—when users are anxious and more likely to follow fake instructions. Source: Chainalysis report on 2025 scam trends

2) Personal wallet compromise volume is high—even when per-victim losses vary

Chainalysis also notes a surge in individual wallet compromises (incident counts rising sharply in 2025). This reinforces a simple point: you should assume phishing attempts are constant, even if markets cool. Source: Chainalysis overview of 2025 theft patterns

Practical anti-scam rules for recovery day

No legitimate support will ever need your seed phrase or private key.
Never “validate” your wallet on a website to fix a connection issue.
Treat “signature requests” like transactions:
- verify the domain
- understand what you’re approving
- when in doubt, reject and re-check from the official docs

Quick Troubleshooting: When Restored Funds Don’t Show Up

1) Wrong account / derivation path

If you restored the seed phrase but see a different address, you may be viewing a different account index. Add additional accounts and compare.

2) Missing passphrase

A missing (or mistyped) BIP-39 passphrase will generate a completely different wallet. If you ever enabled one, you must re-enter it exactly.

3) You restored the interface, not the wallet

Reinstalling a browser extension does not restore keys unless you import the seed phrase/private key or reconnect the hardware device.

When It Makes Sense to Use a OneKey Hardware Device

If you trade actively, use multiple devices, or simply want a safer recovery posture, a hardware wallet can reduce your exposure to browser malware and “copy/paste” key leaks by keeping signing operations on-device.

A OneKey wallet setup is especially useful if your goal is: backup once, restore anywhere, and keep keys offline during daily trading—so your recovery phrase remains a last-resort tool rather than something you handle frequently.

For most users, the best outcome is simple: a verified offline backup, a clean restore process, and a routine that never involves typing secrets into the internet.