Abstract: Disclosed are systems and methods for recovering cryptocurrency assets which may be tied to a lost personal private encryption key. The disclosed system deploys a multi-signature wallet formed from a set of keys including the user's personal key, the key of an organization provides blockchain service for the user, and a reserve key stored by third-party escrow organization. To recover a lost user private key, the system generates and digitally signs with the appropriate private keys a blockchain transaction that includes a script configured, when executed by a node in a blockchain network, to replace the user key with a replacement key.