Paper wallets peaked around 2014–2017. Clients still bring them to our office folded inside books, taped under desks, or laminated in fireproof bags.
Common formats
BitAddress.org printouts — Two QR codes (public and private key) with a decorative border. Often printed on standard A4 paper with the URL visible at the bottom.
WalletGenerator.net variants — Similar layout but with a different header font. Frequently cut into quarters and distributed among family members.
Exchange-issued paper — Some Korean exchanges printed deposit slips with QR codes that clients mistook for cold storage. These are hot wallet deposit addresses, not offline holdings.
BIP38 encrypted paper — Shows an encrypted private key starting with “6P”. Requires a passphrase to spend. Clients often forget they set one.
Identification tips
Look for the generation URL printed on the page. Check whether the private key area was folded or taped — damage can make QR codes unreadable. Photograph both sides before attempting to import.
Red flags
- Private key visible without encryption on paper stored since 2013 (funds may already be swept)
- Multiple copies of the same paper in different locations (suggests someone already found and copied it)
- Lamination that obscures QR code contrast
If you find paper wallets during an estate search, do not scan the private key QR code with a phone app connected to the internet. Bring photographs to a consultation instead.