Post
Topic
Board Hardware wallets
Re: Ledger Recovery - Send your (encrypted) recovery phrase to 3rd parties entities
by
Meuserna
on 28/11/2024, 20:22:21 UTC
But we can't also prove that there is no flaw either, and I personally WON'T gamble my Bitcoin savings on it by storing them in a hardware wallet that has closed source firmware. I'll probably use it for shitcoining very small amounts of Bitcoin through Magic Eden Runes market merely because I have already ordered it. But if I remembered this topic before I purchased it, I probably will not buy it.

Your way of thinking is exactly right.

Even if there isn't a flaw, there's no way to know if Ledger will leak their code again, giving hackers the chance to reverse engineer it.  And there's no way to know if a future firmware update will introduce a bug that could give hackers access.

With closed source code, there are too many unknowns.

And after a company lies to their users, there's no way to trust them.

I learned another lesson, the HARD WAY.

But you learned it, which makes you wiser than those who never do.