Post
Topic
Board Hardware wallets
Merits 2 from 2 users
Re: Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
by
Synchronice
on 23/05/2023, 07:59:07 UTC
⭐ Merited by vapourminer (1) ,dkbit98 (1)
Don't update newer firmware because you could enable access to your keys, and some government could potentially seize coins from you in future, especially if you live in US, UK and France.
Ledger is a failure and I think no one should rely on their words anymore, at least since things are clear. Are you sure that your keys weren't even revealed before this latest firmware update and it wasn't backdoored the whole time you were using it?
It's not only okay but necessary to go brutal on own Ledger devices Cheesy


Here is the podcast with Pascal Gauthier, the CEO of Ledger. He says that customers who talk to them, frequently say that they can't trust themselves with 24 words seed and that's the reason why Ledger came up with Ledger Recovery service. He also confirmed in live that technically, government will be able to subpoeana users and get access to their funds
But if you watch the podcast, one thing is clear, Ledger CEO and people around him think that KYC has become a normal procedure in crypto business that people have accepted and taken it normally. For that reason, he thinks that KYC procedure is very much okay for Ledger Recovery service users.
I don't know what to say, it's shit!