The worst thing about Bitcoin is that it's so darn easy to lose, and because it's not regulated, when it's gone, it's gone. That's why it's particularly important to treat your Bitcoin with care — almost as if it were a newborn child. Make one wrong move, and you could be left hundreds, thousands, or even millions, out of pocket.
That said, there are some instances where lost Bitcoin can be retrieved. For example, if your Coinbase Wallet is hacked and the funds are still there, you may be able to regain access. However, if they've been transferred to a different Bitcoin Wallet, you're most definitely bang out of luck. The same goes for Hard Wallets that have been misplaced.
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How To Recover Lost Bitcoin
This means that funds stored on a Hard Wallet like a Ledger Nano S can't be recovered once the device has been lost — unless you have a backup that can be used to tap into the Bitcoin stored on the wallet. Just keep in mind that not all Bitcoin Wallets offer this feature, with the main one that does being the aforementioned Ledger Nano S.