Quote from: The Sceptical Chymist on Today at 06:59:04 AM

I've been checking the Ledger subreddit pretty often since their idiotic, trust-destroying Recover service was announced and looking at it today, I saw a thread that linked to a Twitter post that in turn linked to some other source saying that Ledger is laying off 12% of its employees.

When a company goes bad (for one reason or another), the first to pay the price are the employees. I do not think that these dismissals of employees are solely the result of their business decisions, but also due to the global economic situation, which definitely affects the EU as well.

Quote from: The Sceptical Chymist on Today at 10:13:45 AM

OK, this is the first time I'm reading that quote and if he knows that information, then Ledger obviously knows which coins are being kept on Ledger wallets and how many. Hmm. D'ya think the disclosure that your private keys could be exfiltrated from the secure element that went along with the Recover announcement could have something to do with that?

In other words, do you think Ledger has already got something akin to a master list of every Ledger user's private keys? Just thinking out loud here, you know?

I wonder how many of those 500 or so employees are various government spooks. Christ I need a drink. And I don't even drink.

My opinion is that they know exactly how many coins are on their devices, because their devices communicate with their servers and use the blockchain data located on those same servers. Considering this fact, it is easy to conclude that such data can be collected very easily and also connected to the IP addresses with which they are accessed.

If some big brother were to knock on their door (if he hasn't already) and ask for all this information on any basis (taxes, money laundering, terrorism...) I'm sure they would have to hand over this information. Considering everything that has been happening around that company for several years now, everyone should ask themselves if there is any logic in trusting them with something as sensitive as our private keys?