importing private key from already suspended Magnum wallet

[Billy T]

I was holding BTC funds in Magnum wallet.
Recently, the Magnum wallet was suspended. I was not informed on time for the suspension, and I could not transfer my funds to another wallet before the suspension.

I have my BTC address, private key, secret 12 word phrase.

In the blockchain explorer after entering the address my funds are visible (unspent).

I have created a new wallet in Blockchain and imported my BTC private key. The message was that there are no funds - 0.

In the blockchain wallet the address generated after importing the private key is not the same as my BTC address.

My address starts with 3
My private key starts with K

Can someone assist with a way I can transfer my BTC funds to another wallet?

[1715217950]

1715217950

[1715217950]

1715217950

[1715217950]

1715217950

[1715217950]

1715217950

[DaveF]

Use electrum.
https://www.electrum.org/#download

You should then be able to import your private key OR start new wallet using your 12 word mnemonic.
Depending on what you are using (PC / Mac / Android / iOS) there are other options but electrum works on all of them.

You can also check that your recovery phrase works by checking it against this:
https://iancoleman.io/bip39/

It should give you a list of all your addresses.

-Dave

[ABCbits]

Use electrum.
https://www.electrum.org/#download

You should then be able to import your private key OR start new wallet using your 12 word mnemonic.

If you import 12 words, you might need to tick option "BIP 39 seed" after clicking button "Option" when you enter 12 words.
If you import private key, you need to use prefix "p2wpkh-p2sh:", example

Code:

p2wpkh-p2sh:[Your private key]

[Billy T]

Dear ETFbitcoin and DaveF,

Thank you so much for your fast reply and professional assistance.

I have installed Electrum wallet, and I did a sweep adding prefix "p2wpkh-p2sh:" to my private key.

My funds were transferred successfully
 

[bob123]

Please note that importing your mnemonic code into another software wallet, does not transfer anything.
While you now have access to your coins via electrum, the private keys are still being derived from the original 12 worlds.

Now, i don't know anything about magnum wallet and neither did i ever hear from it. But i would recommend to create a new wallet with a new mnemonic code and move your funds over there.
If there has been a maliciously tampered random number generator (or maybe just a bug) in the wallet you have used to create your mnemonic code, your funds would be still at risk.

[Billy T]

Please note that importing your mnemonic code into another software wallet, does not transfer anything.
While you now have access to your coins via electrum, the private keys are still being derived from the original 12 worlds.

Now, i don't know anything about magnum wallet and neither did i ever hear from it. But i would recommend to create a new wallet with a new mnemonic code and move your funds over there.
If there has been a maliciously tampered random number generator (or maybe just a bug) in the wallet you have used to create your mnemonic code, your funds would be still at risk.

Dear bob123,

I did not use my 12 words. I opened a new electrum wallet, after that I have done "sweep" with using my private key with prefix "p2wpkh-p2sh:" to transfer my funds.

By choosing the Sweep method for transferring my funds to the new electrum wallet I have:
new mnemonic phrase
new private key
new address

[bob123]

~snip~

Perfect  

This thread was ambiguous until now.
Could have been either the sweep or an import. Or at least i didn't understand that you indeed swept them.

Just wanted to make sure you are on the safe side. This will also help other newbies stumbling across this thread