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Re: @theymos - Time to update the current Ledger situaion @ Important Announcements?
by
theymos
on 18/05/2023, 23:57:49 UTC
⭐ Merited by Poker Player (1) ,Lucius (1) ,LoyceV (1) ,NotATether (1) ,dkbit98 (1) ,DdmrDdmr (1)
It strikes me as very unlikely that anything related to this is going to cause widespread losses anytime soon, so I don't think that an Important Announcement is necessary.

Tweet by Ledger from 6 months ago:

Hi - your private keys never leave the Secure Element chip, which has never been hacked. The Secure Element is 3rd party certified, and is the same technology as used in passports and credit cards. A firmware update cannot extract the private keys from the Secure Element.

I'm not as bothered by the whole idea of an opt-in centralized recovery thing as a lot of people seem to be, but this quote in particular is pretty damning because it shows that Ledger was/is either incompetent or lying.

I edited Ledger out of my "do not keep your money in online accounts" post. I still want to recommend some hardware wallet which is fairly easy-to-use, so I left Trezor in, even if it may not be perfect.