When you switch to a new phone and need to restore your MPC wallet, you don't look for a "key share." Instead, you need the backup you saved earlier—that's your backup file and recovery password. The core of switching devices with an MPC wallet is using the backup to create new signature shares, not copying the old shares over.
What You Need for Switching Phones
The recovery process is similar across different MPC wallet providers. The essentials are:
Wallet account information: Usually your login account (like Binance account, Cobo organization account, etc.) to link your wallet identity. Binance MPC wallet recovery requires you to be logged into your Binance account, and Cobo requires logging into the Cobo Portal and selecting the right Vault.
Backup file / QR code: The backup data generated when you created the wallet. Binance MPC wallet supports iCloud backup or QR code backup. ChainUp supports manual backup (mnemonic phrases/key fragments) and automatic cloud backup.
Recovery password / decryption key: This is the most critical part; it decrypts the backup file. The recovery password is a separate key from your Binance account password. If you forget it, you basically cannot recover your assets.
High-risk warning: Many people think switching phones for an MPC wallet just means "logging in again." That's a dangerous mistake. Most MPC wallet recoveries require all three elements above—missing even one will fail. If you changed phones but your iCloud backup wasn't saved to the cloud, and you didn't manually save a QR backup, simply logging into your account won't show anything.
Where to Find the "Key Share" After Switching Phones
The key share isn't stored on your phone, nor is it waiting somewhere to be found—it is created from the backup.
Case A: You saved a manual backup (mnemonic phrase/QR code/JSON file). After installing the wallet app on your new phone, choose "Restore Wallet" or "Import Wallet." Follow the instructions to enter your recovery password, scan the QR code, or import the backup file. The system will generate a new set of signature shares from the backup data, not restore the old shares. In a proper MPC wallet, the recovery process uses the backup shares and the custodian's share to collaboratively generate brand-new signature shares in a secure environment. The old shares are no longer used.
Case B: You enabled automatic cloud backup (like iCloud). If you use a wallet that supports cloud backup (such as Binance MPC wallet with iCloud), after logging into your account, the system will automatically pull the backup file from the cloud. However, you still need to enter the recovery password to decrypt it; otherwise, the backup file is just scrambled data.
After the Recovery
Verification: Once recovery is successful, the wallet address shown must be exactly the same as before. Go to the wallet settings, find the "Backup Management" or "Recovery Verification" feature, and check whether the backup status is valid. Most mainstream MPC wallets support verifying the backup status and recovery password in that section.
Next steps: After confirming the recovery is successful, immediately create a new backup in the settings page. Because the recovery process generates new shares, the old shares are invalid. If you don't update the backup, you'll face the same problem when switching devices again. Also, delete any old backup files you still have to avoid confusion.
