- Controversies surround Ledger’s latest firmware update featuring Ledger Recovery.
- Supporters of Ledger defend the company, urging people to dispel FUD.
- One defender advises not signing up for the service if concerned, while another points out that the trust security model remains unchanged.
Ledger, the renowned crypto hardware wallet provider, has stirred up a heated debate among users with its latest firmware update. While some are criticizing the company’s new service, there are others who come to Ledger’s defense.
The recent introduction of the company’s new product, Ledger Recover, allows users to back up their Secret Recovery Phrase and recover it if lost. The service works by allowing Ledger and two other providers to store each of the three shards of a user’s private key, acting as a duplicate backup.
However, this feature has faced criticism for granting access to users’ seed phrases to these external companies, undermining the primary purpose of a hardware wallet. At its core, Ledger is a specialized device that grants users exclusive control and access over their passwords and security information, ensuring the secure management of crypto assets.
Ledger emphasizes that the service is optional and won’t be automatically enabled through firmware updates. Charles Guillemet, CTO at Ledger, clarified, “You don’t have to use it and can continue managing your recovery phase yourself if that’s why you bought a Ledger.”
Amid the controversy, there are those who defend Ledger and urge others to dispel the fear, uncertainty, and doubt (FUD) surrounding the company. Ripple Van Winkle, an XRP researcher, advised, “Don’t sign up for their service, and you have nothing to worry about.”
Another Twitter user pointed out that the trust security model remains unchanged, stating, “Anyone saying ‘trust is now 100% broken’ or ‘backdoor was always there, to begin with’ either has no idea how hardware firmware development works or is anti-crypto/bad actor/moron.”
Similarly, a defender argued that rejecting the new feature solely because it requires collaboration among three entities is often irrational. In a tweet, he explained that most individuals complaining about Ledger Recover lack an understanding of wallet security or even real-world security in general.
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