Quote from: Volgastallion on May 17, 2023, 11:46:55 PM

I think Ledger want to be the first oficial """"""aproved hardware wallet"""""" by the goverments/stablishment, i cant find another idea about what are they doing.

Because this seem very very similar at how it works the payment system on shops online when you paid with credit/debit card. You never give to the local where you are buying you credit card info, you send that information to a third party who say its OK or not and make the payment in conection with the bank and the commerce.

So i think this its very similar, they are making some lobby and making some new units of business with someone to be the first and only """"LEGAL"""" hardware wallet.
Trusted by some XXX third party companie who the goverment aproves and they are all friend between them.

And yes before you say, they sell their soul to the devil.

I'm guessing the endgame here is to sell the company to some big bank or to Paypal or someone else, there's literally no other reason why they would want a government to "approve" a hardware wallet unless they don't mind making it easier for Feds to seize cold storage coins at a whim.

Quote from: Pmalek on Today at 08:34:21 AM

Here is the problem. Ledger is one of many hardware wallet brands that use a secure element chip whose sole job was to keep your seed and private keys offline. Meaning, it was supposed to be impossible that sensitive information leaves the chip and gets transmitted online. Turns out, that's not the case at all. The Ledger Nano X secure element can change its behavior after a software update, allowing you to "voluntarily" share your keys online with 3rd-parties. Soon, the same thing will be possible for the Nano S Plus. Apparently, only the old Nano S can't implement this feature.

In theory, unless you update to the newest firmware that unlocks seed-share and approve it physically by pressing the buttons on your Nano, the feature won't work. That's just the theory. It's again a matter of trust. We have trusted Ledger to protect our keys and we trusted them when they said nothing can ever leave the safe enclosure of the secure element. That trust is now gone because the most valuable data can, in fact, leave the SE.

Now you have to make up your own mind. Are you going to trust that what they have said about Ledger Recover is accurate, and that they need your approval to share your seed? Or, can they just do it with or without your consent? They have already told us that data was always obtainable from secure element chips, they just didn't activate that feature before.

You should not trust the usage of the secure chip unless all of the code and firmware is open-source and signed, so that you can verify all of the interactions with the secure chip.