Post
Topic
Board Hardware wallets
Merits 6 from 2 users
Re: My worries with ledger
by
The Sceptical Chymist
on 30/06/2023, 20:19:00 UTC
⭐ Merited by LoyceV (4) ,Pmalek (2)
@Synchronice, If people didn't react appropriately when hundreds of thousands of personal information leaked from their company, I don't think most people care if their seed is put at risk at some point.
I don't know about that; having a database of names, e-mails, and maybe home addresses leaked is one thing.  I could live with that and still use whatever company had that data leaked (and I probably have been in that situation already, unknowingly), but private keys being exposed to someone else?  That's a different beast entirely.  It doesn't even matter if a hacker could gain access to my private keys from Ledger, it's the fact that they can be gotten from the secure element from Ledger themselves that's turned me off from them entirely.

I guess my two Ledger devices are going into my growing HW wallet museum. 

As long as you only use it with (verified) Electrum, you should be good to go for many years. 
Is that really true?  I don't really understand the process by which private keys can be extracted from the Ledger device--do you have to be using Ledger Live for that to happen?  What if you have to update the bitcoin app?  And even if that is true that you can use Ledger with Electrum safely, you're still screwed if you hold any other coins aside from BTC, ones that need frequent updates to their apps to keep working.  A lot of folks hold more than just bitcoin, and I still think Ledger users are playing Russian roulette if they continue to use one of their devices.