Your passkey is lost, and you have no backup device. This is the most troublesome situation, but not a dead end. Whether you can recover your account depends entirely on whether you enabled cloud sync, and whether your passkey is "device-bound" or "syncable."
First, determine which situation you are in.
Case A: Device lost, but passkey had cloud sync enabled
If you used iCloud Keychain on iPhone or Google Password Manager on Android, your passkey has actually been encrypted and backed up in the cloud all along.
How to do it
Get a new device, sign in to the same Apple ID or Google account you used when creating the passkey. Try logging in to the exchange app with the passkey. If successful, cloud sync is working.
Risk note: If you also forgot the password for your Apple ID or Google account, this path won't work. The passkey is tied to your cloud account — if the cloud account is gone, the key is unreachable. You must first recover your Apple or Google account.
Case B: Device lost, no cloud sync, or passkey bound to a hardware security key (like YubiKey)
If you didn't turn on cloud sync when registering, the passkey stored on that lost device is permanently gone. There is no "recovery," because the private key never left that hardware.
But some platforms (like OKX, Binance) have an alternative: you can start a reset request using other verified methods (email, original linked phone number).
On the login page, choose "My passkey isn't working" or "Security verification unavailable?" The system will guide you to verify your identity using email or other 2FA devices, then rebind a new passkey. After submitting the reset request, wait for platform review (usually hours to days). Once a new device is bound, a new passkey is generated.
Common reasons for failure
Many people only set up one passkey without any backup verification method, such as a backup email or authenticator app. This means if the device is lost, you are left with only "manual review." According to the FIDO Alliance, even adding one extra syncable passkey as backup reduces the chance of account lockout to nearly zero.
How to check after completing the process
After reset, log in to the exchange using the new device and confirm you can pass the passkey verification. Then immediately go to security settings and bind a second passkey or backup verification method. After resetting the passkey, some platforms may impose a 24-48 hour restriction on withdrawals and C2C selling. During this period, fund functions are unavailable — this is a normal protection period.
