WTF Ledger

Ledger, known for its hardware wallets, is facing ongoing criticism from customers regarding its new feature called “Recover.” 📣

The feature allows users to restore their seed phrase, but concerns have been raised about the potential security risks associated with it, as the seed phrase is the key to accessing most cryptocurrency wallets.

In response to the backlash, Ledger’s Chief Experience Officer, Ian C. Rogers, took to Twitter Spaces to address users’ concerns and emphasize the company’s commitment to data safety and self-custody principles.

Rogers assured users that the Recover feature is entirely optional, allowing individuals to opt-in if they choose. He emphasized that Ledger’s team consists of “security and self-custody maxis” and said they would never introduce a feature that compromises those fundamental principles. Rogers also mentioned that despite the present criticism, many customers had previously expressed a desire for such a feature, and their reaction to the announcement was largely positive. ⭐

Charles Guillemet, Ledger’s Chief Security Officer, joined the conversation to shed light on the security model of the Recover feature.

He explained that the approach involves sharding encrypted seeds and storing the data with multiple custodians, ensuring that Ledger or any other entity does not gain backdoor access to user wallets or devices. Guillemet emphasized that users retain complete control and that the decision to use the Recover feature rests solely with them, with nothing happening without their consent.

While Ledger’s executives have attempted to provide reassurances about the optional nature and security measures of the Recover feature, some users remain skeptical, and questions about its implementation and potential risks linger. 🤔

Rogers did share on Twitter in the late morning a long thread highlighting answers to some of the biggest questions:

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