Ledger has been involved in one controversy to another. There was the data leak which affected hundreds of thousands of its customers. There was Ledger Recover, a scandalous feature offered from a hardware wallet that's supposed to be the front-liner in promoting Bitcoin's 'not your keys, not your coins' principle.
Even how is it a cold storage when some people that
has ithave the wallet can send parts of their seed phrase backup to third party for backup. This is one of the major
reasonreasons I do not like the wallet while the second being the secure element. Also they do not care about their customers privacy just as you also posted.
And then there's the fact that Ledger's firmware remains partially open-source until today, another controversial choice from a company that's supposed to be strongly advocating the fundamental Bitcoin principle of 'don't trust, verify'.
One of the
Ledger hardware part
call called 'secure element
' in
Allall Ledger wallets are completely close source.