It is extremely important not to lose your recovery phrase and to keep it secret and secure. If anyone else has access to it, they can use it to gain access to all of your funds even without knowing your PIN code.
If you do lose your Lockbox recovery phrase, or the Recovery Sheet where you wrote down your 24 words, it is imperative that you follow these steps:
- Immediately transfer all your funds to another wallet, like your Blockchain web wallet.
- Reset your Lockbox wallet and set it up as a new device.
- Transfer your funds back to your newly configured Lockbox wallet. Please note that resetting a Lockbox and setting it up as a new device will result in a completely new set of addresses and a completely new, unique 24-word recovery phrase.