WalletScrutiny on Nostr: Will Ledger recover from "Ledger Recover" backlash? Probably. Most customers will not ...
Will Ledger recover from "Ledger Recover" backlash? Probably. Most customers will not notice. Most that do, will not understand what's going on. It will blow over but some will level up and learn what was long common knowledge for experts.
#ledgerrecover
Many users claim to prefer Ledger hardware wallets as they use a so called "secure element" or SE. This chip is advertised to resist sophisticated physical attacks but part of the defense of these chips is legal in nature - talking about flaws or details is forbidden.
To use an SE, companies have to sign NDAs and are required to not share aspects of the chip. This also includes to not share the code they run on said chip.
If you can't verify, you have to trust. Trust the claims of the provider. And these claims were unequivocally clear:
Yesterday Ledger announced a new product, enabled with a firmware update that does just what prior was advertised as being impossible: Send your keys to trusted parties with https://www.ledger.com/recover.
While many take aim at the potentially insecure storage of keys with such third parties and criticize the KYC required for it, the main issue here is that of trust. If this is possible and undetectable, have they maybe already built in legal confiscation features?
If you believe in "Don't trust. Verify!" your only option is to use verifiable tools. We list those and follow up with them. Check how transparent your preferred Bitcoin wallet is at https://walletscrutiny.com/
#ledgerrecover
Many users claim to prefer Ledger hardware wallets as they use a so called "secure element" or SE. This chip is advertised to resist sophisticated physical attacks but part of the defense of these chips is legal in nature - talking about flaws or details is forbidden.
To use an SE, companies have to sign NDAs and are required to not share aspects of the chip. This also includes to not share the code they run on said chip.
If you can't verify, you have to trust. Trust the claims of the provider. And these claims were unequivocally clear:
Yesterday Ledger announced a new product, enabled with a firmware update that does just what prior was advertised as being impossible: Send your keys to trusted parties with https://www.ledger.com/recover.
While many take aim at the potentially insecure storage of keys with such third parties and criticize the KYC required for it, the main issue here is that of trust. If this is possible and undetectable, have they maybe already built in legal confiscation features?
If you believe in "Don't trust. Verify!" your only option is to use verifiable tools. We list those and follow up with them. Check how transparent your preferred Bitcoin wallet is at https://walletscrutiny.com/