Ledger has introduced a new feature, sparking concerns among its users.
Ledger Recover is an ID-based subscription service enabling the retrieval of the secret recovery phrase. It applies to Ledger Nano X hardware wallets and will roll out under firmware release 2.2.1.
Up to $545 million in Bitcoin (BTC) was estimated to be lost in 2022 due to lost passwords or mistakes with the recovery phrase — demonstrating a real need to address the issue.
However, Ledger users have voiced strong objections to the feature as it requires online storage of the secret recovery phrase and association with a passport or national ID card.
Ledger users say no
A Reddit post on the new Ledger Recover feature labeled it “a disaster waiting to happen.”
The OP summarized the arguments against the feature by pointing out the dangers of sharing seed phrases online — referencing Ledger’s 2020 data breach.
“Again, I’m in disbelief about this. Apart from the risks that they’re hacked again, apart fr
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