Comment 7 for bug 1028532

I'm having the same issues too. Tried to get the passphrase like this:

 $ sudo ecryptfs-unwrap-passphrase /media/USERNAME/763e56fe-cce3-4fe6-ab5d-50426cbd408e/home/USERNAME/.ecryptfs/wrapped-passphrase

and then trying to unlock like:
$ cd /media/USERNAME/763e53fe-cce3-4fe6-ab5d-50426cbd408e/home/nutella
$ sudo ecryptfs-recover-private .
INFO: Found [.].
Try to recover this directory? [Y/n]: Y
INFO: Could not find your wrapped passphrase file.
INFO: To recover this directory, you MUST have your original MOUNT passphrase.
INFO: When you first setup your encrypted private directory, you were told to record
INFO: your MOUNT passphrase.
INFO: It should be 32 characters long, consisting of [0-9] and [a-f].

Enter your MOUNT passphrase:
INFO: Success! Private data mounted at [/tmp/ecryptfs.V6lfkUV1].

And then I only see the same files as if it would not have been decrypted.